December: No End to Progress | 5Y News Monthly
The big news from last month.
5Y News Monthly
"5Y News Monthly" is a recurring column from 5Y Capital. At the start of each month, we look back at the past month's news from 5Y and our portfolio companies, sharing it with friends who follow us. We hope it helps you get to know 5Y better.
01 Portfolio Company Highlights
Major news about funding, IPOs, strategic partnerships, breakthroughs, and new product launches from 5Y portfolio companies.
02 5Y Capital Updates
News about 5Y honors, investor interviews, and perspectives.
Note: Companies are listed in alphabetical order by pinyin.
01
Portfolio Company Highlights
Abogen Bioscience and Ruijin Hospital Launch Joint Research Institute to Accelerate mRNA Drug Clinical Translation
On November 26, Shanghai Jiao Tong University School of Medicine-affiliated Ruijin Hospital and Abogen Bioscience held an unveiling ceremony for the "Ruijin-Abogen Nucleic Acid Drug Research Institute" in Suzhou Industrial Park, officially announcing its establishment. Ruijin Hospital Director Ning Guang and Abogen Bioscience founder Dr. Ying Bo both expressed strong recognition for the partnership. Dr. Ying noted his genuine alignment with Ruijin's innovation philosophy of "from clinical practice to laboratory and back to clinical validation," which provides a solid platform for applying and validating Abogen's new technologies. He expressed particular honor in deepening this collaboration to accelerate patient-centered, clinically oriented nucleic acid drug R&D. Read more
Horizon Robotics SuperDrive Wins Lingxuan Gold Award, Setting Benchmark for Full-Stack Advanced Intelligent Driving
On November 8–9, the 2024 New Automotive Technology Cooperation Ecosystem Exchange Conference and 9th Lingxuan Awards Ceremony opened in Kunshan. Horizon Robotics took home the 9th Lingxuan Award for Forward-Looking Intelligent Driving Gold Award with its Horizon SuperDrive™ full-scenario intelligent driving solution (HSD). As an authoritative award in China's auto parts industry, the Lingxuan Awards are known for demanding selection criteria and rigorous review processes. This year's submissions set a new record, surpassing all previous editions. HSD stood out from 91 outstanding cases, winning on the strength of its leading technical algorithm architecture and consistently human-like experience nationwide. This follows multiple previous Lingxuan Awards for Journey 2 and Journey 5 computing solutions, with the committee once again recognizing Horizon Robotics' product capabilities in hardware-software integration and algorithmic leadership. Read more
Deepexi Partners with Shanghai Merchant Ship Design and Research Institute
On November 27, Deepexi and the Shanghai Merchant Ship Design and Research Institute announced a partnership. The two parties will jointly build an AI-assisted ship design and management system based on Deepexi's DeepexiOS enterprise AI platform, using AI and large model technology to assist the entire ship design process and optimize management and operations, accelerating intelligent development in ship design. Read more
XtalPi Partners with Sinar Mas Group to Drive AI Industry Innovation Across Asia-Pacific
On November 7, XtalPi and Indonesia's largest conglomerate Sinar Mas Group, through its Sinar Mas Financial Group subsidiary, formally signed a strategic partnership. The two sides will establish a joint venture to pursue comprehensive collaboration across multiple industrial sectors, jointly advancing the future of AI industry innovation in the Asia-Pacific region. The partnership will deeply integrate XtalPi's AI + robotics R&D platform with Sinar Mas Group's extensive industry resources and market channels, creating explosive growth points for technology upgrading and commercial revenue expansion for both companies. Read more
GigaAI Partners with Voyah
On November 14, GigaAI and Voyah signed a strategic partnership agreement to jointly accelerate the adoption of mid-to-high-tier intelligent driving. GigaAI is committed to providing OEMs with "extreme cost-performance" intelligent driving solutions, with its differentiated approach centered on pure vision intelligent driving via binocular cameras. Notably, GigaAI is one of the few system solution providers in the industry with in-house capabilities spanning binocular hardware design, software matching algorithms, and perception application algorithms. Read more
ReviR Therapeutics Partners with Kennedy's Disease Association
On November 25, ReviR Therapeutics and the Kennedy's Disease Association (KDA), a nonprofit focused on improving patients' lives and advancing treatment for Kennedy's Disease, announced a formal partnership. With KDA funding support, ReviR will work closely with the association to advance innovative therapy research for Kennedy's Disease (KD). Read more
Medbanks Health Technology and Jianyi Technology Form Strategic Partnership
On November 1, Medbanks Health Technology Co., Ltd. and Jianyi Information Technology (Shanghai) Co., Ltd. held a strategic partnership signing ceremony in Shanghai. The two sides will seize this opportunity to leverage their respective strengths based on principles of "complementary advantages, mutual benefit, win-win cooperation, and friendly consultation," deeply exploring the construction of a flexible, high-quality health management system to provide customers with more comprehensive and advanced coverage. Medbanks Chairman and CEO Ma Xuguang and Jianyi Technology founder and CEO Cao Baiyan jointly signed the strategic cooperation memorandum. Read more
Xpeng Aeroht's "Land Aircraft Carrier" Completes Global First Flight
On November 12, the 15th China International Aviation and Aerospace Exhibition opened in Zhuhai, Guangdong. That afternoon, at the exhibition's second demonstration zone (Doumen Lianzhou) for UAVs and unmanned vessels, Xpeng Aeroht's "Land Aircraft Carrier" modular flying car made its global public flight debut. Founder Zhao Deli demonstrated the full process of automatic separation and docking between the ground "mothership" and the aerial vehicle. In interviews with National Business Daily and other media, Zhao stated that the company plans to begin mass production and delivery in 2026, with a price tag not exceeding 2 million RMB. Read more
Pony.ai Lists on Nasdaq
On November 27, Pony.ai officially listed on Nasdaq under the ticker "PONY," becoming the first Robotaxi IPO. Pony.ai launched its Robotaxi service in 2018 and leads globally in autonomous driving technology and operational scale. It was among the first domestic companies to obtain driverless ride-hailing service permits in Beijing, Shanghai, Guangzhou, and Shenzhen, and the only autonomous driving company to secure all Robotaxi regulatory permits in these four tier-one cities. Its successful listing marks the official birth of the "Global Robotaxi First Stock." Read more
Xpeng Motors Hosts AI Tech Day, Unveils Turing AI Intelligent Driving Architecture
On November 6, Xpeng Motors held its "Xpeng AI Tech Day" under the theme "Technology Changes the World." For its AI vehicle business, Xpeng unveiled new technical solutions across its three core domains — "three electrics," intelligent driving, and intelligent cockpit — including the Xiaopeng Kunpeng Super Electric System, Xiaopeng Turing AI Intelligent Driving Architecture, and Xiaopeng Tianji AI OS. Read more
Multiple 5Y Portfolio Companies Named to "2024 Forbes China Global Expansion 30 & 30"
On November 19, the 2024 Forbes China Global Expansion 30 & 30 results were announced. Forbes China and Fucolink jointly launched the second annual Forbes China Global Expansion series, identifying Chinese brands boldly expanding and innovating in global markets, as well as outstanding individuals leading their companies to innovate and forge ahead internationally — showcasing the rising and transforming chapter of Chinese business in globalization. 5Y portfolio company Xpeng Motors was named to the "2024 Forbes China Global Expansion Flagship Brand TOP30," while 5Y portfolio companies PingCAP, Agora, and Galaxy Space were named to the "2024 Forbes China Global Expansion Leading Brand TOP30." Read more
Multiple 5Y Portfolio Companies Named to "2024 Forbes China Innovative Enterprises 50"
On November 13, Forbes China released its "2024 Forbes China Innovative Enterprises 50" list. This year, the scope expanded from 8 sectors to 12. As more hard tech startups secure substantial funding, China's innovation landscape is becoming increasingly diverse. 5Y portfolio companies Vastai Technologies, METiS Pharmaceuticals, Pony.ai, Xiaomi Auto, and Moonshot AI were named to the "2024 Forbes China Innovative Enterprises 50." Read more
02
5Y Capital Updates
5Y Capital Named to "ChinaVenture 2024 Most GP-Followed Venture Capital Firms TOP30"
On November 22, the ChinaVenture 2024 Limited Partners ranking was released. The ChinaVenture 2024 LP ranking draws on data from participating LPs for the period July 1, 2023 to June 30, 2024, using equity investment management scale, annual investment scale and number, and performance of invested funds as evaluation metrics. Through questionnaire surveys, interviews, data verification, and aggregation confirmation, the data was standardized and ranked by overall score. **5Y Capital was named to the "ChinaVenture 2024 Most GP-Followed Venture Capital Firms TOP30." Read more**
5Y Capital's Liu Kai: Technological Innovation and the Patience of Venture Capital
Recently, at the "18th China Investment Annual Conference · Limited Partners Summit" hosted by ChinaVenture, 5Y Capital partner Liu Kai shared his perspectives during a panel on "The Profound Questions of Our Era — Investing in New Quality Productive Forces." Liu noted that the essence of VC is investing in innovation; only by focusing on innovation can something new emerge. Venture capital has two key elements: a tolerance mechanism and agents. As agents, we certainly need to have patience. Read more
Opening the "Black Box," Building Proprietary Models — A Conversation on AI Entrepreneurship and Creation | 5Y Tavern Vol. 22 × Colorful Clouds Technology's Yuan Xingyuan
This episode of 5Y Tavern features Yuan Xingyuan, founder and CEO of Colorful Clouds Technology. Colorful Clouds Technology operates three products — Colorful Clouds Weather, Colorful Clouds Translate, and Colorful Clouds Dream — all AI-native applications with user bases exceeding ten million. Two years ago, Xingyuan shared his entrepreneurship story on 5Y Tavern. Since then, Colorful Clouds has made great strides in using AI to improve people's lives, and we've seen many new developments with Dream. Xingyuan also shared Colorful Clouds' explorations in AI. Read more
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