Qiming Star | Chinese Chassis-by-Wire Leader Nexteer Technology Successfully Lists on Hong Kong Exchanges and Clearing Limited
Qiming Venture Partners co-led NaSen Technology's Series A round in 2018 and continued to back the company in its Series B round.
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On August 7, 2026 Beijing time, NASN Intelligent Tech, a portfolio company of Qiming Venture Partners and China's leading X-by-wire chassis company, successfully listed on the Hong Kong Stock Exchange. NASN Intelligent Tech (02261.HK) priced its IPO at HK$10.42 per share, opened at HK$16.9 per share, and reached a market capitalization of HK$10.06 billion.
Qiming Venture Partners co-led NASN Intelligent Tech's Series A round in 2018 and continued to back the company in its Series B. Prior to the IPO, Qiming Venture Partners held an 8.43% stake in NASN Intelligent Tech, making it the largest institutional shareholder.
Founded in 2016, NASN Intelligent Tech focuses on delivering mission-critical brake-by-wire solutions for intelligent driving, strengthening the autonomy of China's intelligent driving supply chain. As an industry participant, NASN Intelligent Tech advances the brake-by-wire sector through its full-stack solutions, driving the industry from zero to one, and from good to great.
According to China Insights Consultancy, NASN Intelligent Tech is the first Chinese company to commercially deploy an electronic brake booster solution (NBS solution) on L4 autonomous vehicles, and the earliest to supply proprietary electronic brake booster solutions (NBS solutions) to leading domestic EV OEMs. By 2025 brake-by-wire solution sales volume, NASN Intelligent Tech ranks among the top three domestic Chinese suppliers and is the second-largest independent third-party domestic brake-by-wire solution supplier.
Building on its mature R&D and mass production experience in automotive brake-by-wire technology, together with core competencies in control algorithms, software, and hardware, NASN Intelligent Tech is well-positioned to expand into humanoid robotics and low-altitude aircraft motion control—cultivating a high-potential second growth curve with substantial room for expansion.
Tao Zhe, Founder and Chairman of NASN Intelligent Tech, said: "China's automotive industry is undergoing a profound transformation toward electrification, intelligentization, and indigenous core technology development. Standing at this new milestone of our public listing, NASN Intelligent Tech will seize industry opportunities, continue to deepen our focus on automotive motion control, accelerate core technology innovation and global expansion, and strive to become an internationally competitive X-by-wire chassis enterprise."
Duane Kuang, Founding Managing Partner at Qiming Venture Partners, said: "When we invested in NASN Intelligent Tech in 2018, we were drawn to the founding team's determination to independently develop core X-by-wire chassis technologies and key components in China, along with their solid technical foundation and ability to commercialize at scale. Amid the intelligent driving wave, brake-by-wire and X-by-wire chassis serve as the core hardware safeguarding autonomous driving safety, and domestic innovators have vast room to grow. We are delighted to witness NASN Intelligent Tech reach this milestone of entering the capital markets. Looking ahead, building on its accumulated core capabilities in control algorithms, software, and hardware, we believe NASN Intelligent Tech is well-positioned to extend these technical strengths into the core software and hardware of embodied intelligent robotics, opening up an even broader market while continuing to consolidate its industrial advantages and expand globally."
Qiming Weekly | Top 10 Portfolio Company Updates Vol. 24, August 4, 2026
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. 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), Hesai Technology (NASDAQ: HSAI, 02525.HK), UBTECH (09880.HK), WeRide (NASDAQ: WRD, 00800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Biren Technology (06082.HK), Zhipu AI (02513.HK), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ: ZLAB, 09688.HK), CanSinoBIO (688185.SH, 06185.HK), Schrödinger (NASDAQ: SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), SinoCellTech (688520.SH), Insilico Medicine (03696.HK), Hope Medicine, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.