Qiming Star | Unisound, Pioneer in China AI Technology Commercialization, Successfully Lists on Hong Kong Stock Exchange | Bilingual
Qiming Venture Partners has stood by Unisound for more than a decade. Its investment in the company dates back to the Series A round in 2013, with continued support through the Series B and D1 rounds.
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On June 30, Beijing time, Unisound, a Qiming Venture Partners portfolio company and pioneer in the industrialization of AI technology in China, successfully listed on the Hong Kong Stock Exchange. Unisound (09678.HK) priced its IPO at HK$205.00 per share, achieving a market capitalization of HK$14.545 billion.
Qiming Venture Partners has stood by Unisound for more than a decade. Our investment in the company dates back to its Series A round in 2013, followed by continued support through its Series B and D1 financings.
Founded in 2012, Unisound focuses on building conversational AI products and solutions for everyday life and healthcare-related scenarios, helping users improve operational efficiency and strengthen decision-making capabilities. Its customers include insurance groups and more than 100 hospitals.
Unisound drives its R&D and productization capabilities through robust infrastructure. With forward-looking strategic vision, the company launched UniCore in 2019 — its first BERT-based large language model, which became the technical foundation of its core platform "UniBrain." In 2023, it released its self-developed large model "Shanhai," a 60-billion-parameter model that became the new core algorithm for UniBrain, featuring generative multilingual and multimodal capabilities that enable human-machine interaction through dynamic reasoning and cross-modal data processing.
Dr. Huang Wei, Co-Founder and CEO of Unisound (left), and Dr. Liang Jia'en, Co-Founder, Chairman and CTO of Unisound (right)
Dr. Huang Wei, Co-Founder and CEO of Unisound, said: "This IPO marks market recognition of the commercialization of China's AI technology, and represents a solid step toward the industrialization of AI technology. Going forward, Unisound will further strengthen its AI infrastructure and model R&D, attract and cultivate AI talent, and expand into international markets at the right time — bringing leading technologies and products abroad and enhancing our global brand influence."
Duane Kuang, Founding Managing Partner of Qiming Venture Partners, said: "As an early investor in Unisound, we are delighted to witness the company's important leap from technology exploration to IPO. This listing is not only a significant milestone for Unisound, but also represents important progress in the industrialization of AI technology in China. We look forward to Unisound taking this listing as a new starting point, continuing to deepen technological innovation, accelerating talent development, and demonstrating the hard power of Chinese AI enterprises. Qiming Venture Partners will also continue to patiently support more companies like Unisound that combine technical depth with commercial vision, constantly exploring and progressing."
Qiming Venture Partners' Portfolio Company Unisound Successfully Lists on the Hong Kong Stock Exchange
On June 30th, Beijing time, Unisound, a pioneer in the industrialization of AI technologies in China and a portfolio company of Qiming Venture Partners, has successfully debuted on the Hong Kong Stock Exchange. Unisound (SEHK:9678) was issued at HK$205.00 per share, with a market capitalization of HK$14.545 billion.
Qiming Venture Partners has been a long-standing investor in Unisound, first participating in the company's Series A funding round in 2013. Over the past decade, Qiming has continued to support Unisound through its Series B and D1 rounds.
Founded in 2012, Unisound is an AI company specializing in the conversational AI products and solutions for daily life and healthcare-related applications in China. Its business centers on empowering customers, including insurance providers and over 100 hospitals, with user-centric AI solutions that enhance operational efficiency and support better decision-making.
Leveraging a solid infrastructure, Unisound has advanced its R&D and productization capabilities. In 2019, the company launched UniCore, its first BERT-based large language model, which functioned as the initial core algorithm model of its central technology platform, UniBrain. In 2023, Unisound introduced UniGPT, UniBrain's new core algorithm model—a 60-billion-parameter large language model with generative multilingual and multimodal capabilities that enables human-machine interaction through dynamic reasoning and cross-modal data processing.
Dr. Huang Wei, Co-Founder and CEO of Unisound (left) and Dr. Liang Jia'en, Co-Founder, Chairman and CTO of Unisound (right)
"This IPO represents strong market recognition of China's AI technology commercialization and a meaningful step forward in the industrialization of AI technology," said Dr. Huang Wei, Co-Founder and CEO of Unisound. "We will continue to invest in core AI infrastructure and model development, cultivate talent, and strategically expand globally to bring our advanced technologies and products to the international markets."
"As an early investor in Unisound, we are delighted to have witnessed its remarkable leap from technological exploration to a successful IPO," said Duane Kuang, Founding Managing Partner of Qiming Venture Partners. "Unisound's listing marks a new chapter for the company and highlights the significant progress in the industrialization of AI in China. We look forward to seeing Unisound continue to push the boundaries of innovation, accelerate talent acquisition and development, and showcase the strength of Chinese AI companies. At Qiming, we remain committed to supporting companies like Unisound that combine deep technological expertise with strong commercial vision and long-term growth potential."
Past Highlights
Founded in 2006, Qiming Venture Partners currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, the firm has focused on investing in outstanding early- and growth-stage companies in the Technology and Consumer (T&C) and Healthcare sectors.
To date, Qiming Venture Partners has invested in more than 580 high-growth innovative companies, of which over 210 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. More than 80 portfolio companies have become recognized unicorns or super-unicorns.
Many companies in Qiming Venture Partners' portfolio 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), Genor Biopharma (688520.SH), Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu AI, StepFun, Biren Technology, and others.