Qiming Headlines: Intelligence Ignites the Future — Qiming Venture Partners' 17th RMB Fund Annual Meeting and Investor Summit Successfully Held in Shanghai

Recently, Qiming Venture Partners held its 17th RMB Fund Annual Meeting and Investor Summit in Shanghai.

In his opening remarks at the Investor Summit, Duane Kuang, Founding Managing Partner of Qiming Venture Partners, shared the firm's latest investment achievements and core strategic insights. Over the past year, Qiming has maintained its investment discipline while actively capturing market opportunities, with its investment deployment continuing to bear fruit. The firm has now backed more than 80 companies, with substantial IPO results — 13 portfolio companies have completed successful IPOs in the past 24 months, bringing the total number of listed companies it has nurtured to over 80.

Kuang offered an in-depth analysis of current industry trends. He believes that a great technological revolution fundamentally transforms how humans live and work, bringing about profound and lasting social change — and that the rapidly advancing artificial intelligence of today is precisely such a revolution. He also noted that this transformation is not driven by a single technological breakthrough, but by a series of advances across an entire technological system. Industry development does not follow a straight upward trajectory; cyclical fluctuations are inevitable. But cycles are not to be feared in venture capital — quality companies possess the core capabilities to ride through them.

Two major panel discussions followed. In the panel "Medical AI: The Deep Waters and Uncharted Territory," William Hu, Managing Partner at Qiming Venture Partners, served as moderator. He was joined by Zhang Qi, Founder of Huimei Technology; Zhao Zhengtuo, Founder of Jieti Medical; Hong Liang, Founder of Tiangui Technology; and Guan Weihua, CEO of EDCHEER. The panelists engaged in a deep exploration of AI's potential and opportunities in healthcare. Drawing on their respective commercialization experiences, they analyzed the development potential and trends of AI in medical diagnosis, protein structure design and industrialization, brain-computer interfaces, and future physical AI. They also discussed core issues including data moats, safety, regulatory frameworks, and technological iteration.

In the panel "Commercial Breakthroughs in Embodied Artificial Intelligence," Alex Zhou, Managing Partner at Qiming Venture Partners, moderated a discussion with Wang Xiaogang, Founder and Chairman of Daxiao Robotics; Dai Ruoli, Founder and CEO of Noitom Robotics; Yilun Chen, Founder and CEO of Tashi Zhihang; and Tang Wenbin, Founder and CEO of Yuanlingji. They conducted an in-depth examination of core topics including the current frenzy around embodied AI, criteria for evaluating investments in the space, trends in world model technology, strategies for growing data assets, and the global competitive landscape.

The panelists mapped out the industry's current state, technical logic, and future trajectory. They agreed that the core value of embodied AI lies in creating entirely new productive capacity in the physical world — replicating human labor. The commercialization scenarios are clear, and the market size is extraordinarily promising. The field has already demonstrated significant scaling laws. With data growing rapidly this year, model performance is approaching viable thresholds. Combined with maturing conditions for integrated algorithm, software-hardware, and supply chain deployment, along with China's massive application market and engineering advantages, the industry is attracting vast pools of talent and capital. As technology, data, and software-hardware systems continue to mature, embodied robots will gradually enter civilian and industrial scenarios, reshaping the nature of social productivity.

Beyond the main panels, the summit featured rich ancillary programming to deepen exchanges among LPs, investors, and entrepreneurs. Following the Investor Summit, the afternoon industry seminars featured four parallel closed-door sessions on technology and healthcare innovation.

In the AI Applications session, Wang Yu, Founder and Chairman of Qianshou Future Technology; Wang Aihua, CFO and Head of Financial Business at Infinite Light Year; and Wang Huiyan, Co-founder of Yuaiweiwu, joined Qiming investors and LPs for deep discussions. Topics included AI applications still being in early-stage deployment, with vertical scenarios (social, finance, education) representing the best breakthrough points; and how companies need to use AI to achieve tenfold improvements in core value while building three moats — data, scenario, and business cognition — to develop differentiated competitiveness in the large model wave.

In the Embodied AI and Robotics session, Maoqing Yao, Chairman and CEO of Mifeng Technology; Dai Ruoli, Founder and CEO of Noitom Robotics; Cai Yingpeng, Founder and CEO of Inspire Robots; and Tang Wenbin, Founder and CEO of Yuanlingji, joined Qiming investors and LPs to assess multiple topics. These included embodied AI having entered its first year of commercial deployment, with industrial and logistics scenarios率先 validating value at scale; the industry's core bottleneck being high-quality data supply, with full-stack technical capabilities and data flywheels as keys to success; and the future ecosystem evolving toward "a small number of platform companies plus numerous application integrators."

In the Innovative Drugs session, Wu Zheng, Founder of Ark Biosciences; Liu Yarong, Chairman of Weitao Bio; Wang Xiaoyan, CEO of Shengwu Technology; Guan Weihua, CEO of EDCHEER; and Sha Wei, Founder of Yangliyi, joined Qiming investors and LPs to exchange views on core topics. These included Chinese innovative drugs participating in global innovation, comparisons between BD and NewCo models; First-in-class/Best-in-class development strategies; AI's impact on new drug business models; and biotech versus biopharma strategies.

In the Innovative Medical Devices session, Cao Peng, Founder of Jialiang Brain Science; Zhao Zhengtuo, Founder of Jieti Medical; Cynthia Chen, Chairman of Pulnovo Medical; Shen Kun, Chairman of Tongxuan Medical; and Huang Ying, Vice President of Synaptic Medical, joined Qiming investors and LPs for in-depth discussions. Topics included the globalization of R&D and commercialization strategies for Chinese innovative medical devices; original breakthroughs in brain-computer interfaces, neuromodulation, and minimally invasive interventional devices; how "policy plus supply chain plus engineer dividend" supports companies going global; and the expectation that more innovative medical device companies will become global leaders in their niches over the next decade.

The Investor Summit also featured a special company showcase, with 12 high-quality innovative companies presenting their core technologies, flagship products, and deployment cases. These included Daxiao Robotics, Noitom Robotics, Inspire Robots, Yuaiweiwu, Yuanlingji, Jihao Technology, Yunji Technology, Benyao Technology, Jieti Medical, Tiangui Technology, Tongxuan Medical, and Zhongxi Bio. The showcase concentrated on industrialization progress and commercialization results in technology and healthcare innovation, creating an immersive technology experience and efficient platform for resource matching and partnership-building for attending guests.

P A S T H I G H L I G H T S

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Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total assets under management of $9.5 billion. Since its inception, Qiming 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 listed on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing, 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 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, 0800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Biren Technology (06082.HK), Zhipu (02513.HK), 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), SinoCellTech (688520.SH), Insilico Medicine (03696.HK), AHBIO, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, and StepFun.