Qiming Venture Partners Portfolio Companies Named to Shanghai's 2025 Specialized, Refined, and Innovative SME and Innovative SME Lists (Second Batch)
The two initiatives are designed to enhance the innovation capacity and specialization of small and medium-sized enterprises (SMEs), promote high-quality SME development, and support the advancement of industrial foundations and modernization of industrial chains.
Recently, Shanghai released the second batch of its 2025 lists for Specialized, Refined, Unique, and Innovative (SRUI) SMEs and Innovative SMEs. These two initiatives are designed to enhance the innovation capabilities and specialization of SMEs, promote high-quality SME development, and support the advancement of industrial foundations and modernization of industrial supply chains.
Qiming Venture Partners portfolio companies Infinigence AI, Eigencomm, Insilico Medicine, Stackless Data, Fushoukang, and Qianmai Medical were named to the second batch of the 2025 Shanghai SRUI SME list; Houmo AI, YanYin Technology, and Insilico Medicine were named to the second batch of the 2025 Shanghai Innovative SME list.
Infinigence AI, Eigencomm, Insilico Medicine
Stackless Data, Fushoukang, Qianmai Medical, and others
named to
2025 Shanghai SRUI SME List
(Second Batch)
Houmo AI, YanYin Technology, Insilico Medicine, and others
named to
2025 Shanghai Innovative SME List
(Second Batch)
Evaluation Criteria
2025 Shanghai SRUI SME List (Second Batch)
The SRUI SME evaluation covers four dimensions: specialization, refinement, distinctiveness, and innovation capability. Metrics include the proportion of main business revenue to total revenue, average growth rate of main business revenue, years operating in a specific niche market, digitalization level, quality management level, market leadership position in niche segments, and the number of valid intellectual property rights related to the company's core products. Additional qualifying criteria include receiving provincial or national science and technology awards within the past three years, or making the national top 500 in the "Maker China" SME Innovation and Entrepreneurship Competition.
2025 Shanghai Innovative SME List (Second Batch)
The Innovative SME evaluation criteria include the number of valid intellectual property rights related to core products, R&D expenditure as a percentage of total revenue, growth rate of main business revenue, debt-to-asset ratio, field of core products, and proportion of main business revenue to total revenue. Additional qualifying criteria include being recognized as a high-tech enterprise, national technological innovation demonstration enterprise, IP advantage enterprise, or IP demonstration enterprise, or receiving national or provincial science and technology awards within the past three years.
Past Coverage
Founded in 2006, Qiming Venture Partners currently manages 11 USD funds and 7 RMB funds, with total assets under management of $9.5 billion. Since its inception, the firm has focused on investing in outstanding early- and growth-stage companies in Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies. More than 210 of these have gone public on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 portfolio companies have become recognized unicorns or super-unicorns.
Many Qiming Venture Partners portfolio companies have grown into the most influential players in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ:BILI, 09626.HK), Zhihu (NYSE:ZH, 02390.HK), Roborock (688169.SH), UBTECH (09880.HK), WeRide (NASDAQ:WRD), Insta360 (688775.SH), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ:ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ:SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), Berry Genomics (000710.SZ), SinoCellTech (688520.SH), Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu AI, StepFun, and Biren Technology.