Qiming Weekly | Qiming Venture Partners Portfolio Funding and Updates Vol. 35, 2025
Staying with you through milestone moments at Qiming Venture Partners portfolio companies
Editor's Note: The "Qiming Weekly" column is published regularly every week, rounding up funding news and development updates from Qiming Venture Partners' portfolio companies.
In the wave of technology and innovation, every step entrepreneurs take deserves to be recorded. Qiming Venture Partners will continue to accelerate and empower entrepreneurs, and we invite you to join us in following the milestone moments of our portfolio companies.
Funding News
01/
AusperBio Closes $63 Million Series B2 Round Qiming Venture Partners Co-Leads
Recently, AusperBio (Ausper Biopharma Co., Ltd. and AusperBio Therapeutics Inc., collectively "AusperBio"), a clinical-stage innovative pharmaceutical company focused on proprietary targeted delivery of small nucleic acid drugs with "achieving functional cure for chronic hepatitis B" as its core mission, announced the completion of a $63 million Series B2 financing.
This round was co-led by Qiming Venture Partners. It marks AusperBio's second successful financing in 2025, bringing the company's total funding raised this year to over $113 million.
The proceeds will be directed toward AusperBio's core development priorities across three main areas: first, accelerating clinical trials for its flagship product — AHB-137, an antisense oligonucleotide (ASO) innovative drug for functional cure of chronic hepatitis B — including Phase III trials in mainland China, Phase II combination therapy and treatment-naïve patient trials, and concurrent Phase II trials overseas; second, advancing early commercialization and industrialization planning for AHB-137 to lay the groundwork for successful market launch and global patient access; and third, continuing to expand the company's innovative pipeline, strengthen domestic and international team building, and accumulate core technology and talent for long-term growth.
William Hu, Managing Partner at Qiming Venture Partners, said: "Qiming Venture Partners is pleased to continue increasing our investment and co-lead this round for AusperBio. The company has demonstrated exceptional R&D capabilities and execution efficiency. Its core product AHB-137 has successfully entered Phase III clinical trials and has the potential to become a best-in-class therapy. Chronic hepatitis B represents a major global health challenge, and we look forward to AHB-137's clinical success and its ability to bring the promise of functional cure to patients worldwide as soon as possible."
02/
Shengshu Technology Raises Hundreds of Millions of RMB in Series A Round Qiming Venture Partners Continues Investment
Recently, Qiming Venture Partners portfolio company Shengshu Technology completed a new Series A financing round of several hundred million RMB, with continued investment from Qiming Venture Partners.
Dr. Yihang Luo, CEO of Shengshu Technology, stated that multimodal generation technology is accelerating its commercialization in the digital content industry, though it remains in early stages. Over the next three years, multimodal generation is expected to reshape global digital content production and fully penetrate content creation and consumption across all industries, demonstrating vast market potential and global growth opportunities. The new funding will be used for model R&D and technological innovation, exploring the intelligence ceiling and application breadth of multimodal large models, while continuing to strengthen product expansion, user services, industry partnerships, and global commercial deployment.
Major Partnerships
01/
Terminus Group and UBTECH Announce Strategic Partnership
Recently, Terminus Group and Qiming Venture Partners portfolio company UBTECH (09880.HK) announced a strategic partnership. Leveraging Terminus Group's spatial intelligence perception, reasoning, and action-oriented spatial information processing technology闭环, alongside UBTECH's leading full-stack self-developed capabilities in humanoid robotics, the two parties will collaborate deeply around "spatial intelligence + embodied intelligence," opening up and sharing spatial intelligence and embodied intelligence innovations with each other, building an entirely new paradigm of multimodal training with spatial intelligence as the foundation, and jointly driving the comprehensive deployment of intelligent agent robots.
Zhou Jian, UBTECH's founder, chairman, and CEO, believes that spatial intelligence is a critical enabler for robots to interact with the physical world. For robots to evolve from single-task execution tools to intelligent agents capable of human-robot symbiosis, they must deeply integrate understanding of environmental semantics and dynamic patterns. As a leading spatial intelligence company, Terminus Group's spatial large models and high-quality spatial data provide excellent nourishment for robot training, creating powerful synergy with UBTECH's core robotics strengths.
02/
UBTECH and Cloud Network Technology Forge Global Strategic Partnership Building a Benchmark "Humanoid Robot + Smart Factory" Application
Recently, Qiming Venture Partners portfolio company UBTECH (09880.HK) and Cloud Network Technology signed a global strategic cooperation agreement, further clarifying each party's division of labor in humanoid robot R&D, manufacturing, and global market promotion. From 2025 to 2027, the two sides will work together to advance the manufacturing, deployment, and delivery of UBTECH humanoid robots in factories across China and globally, as well as among ecosystem strategic alliance partners.
Under the agreement, Cloud Network Technology will be responsible for global sales, marketing, and after-sales service of UBTECH humanoid robot products; UBTECH will focus on R&D, production, technical support, and product upgrades to ensure technological leadership and competitiveness in global markets. The two parties will also strengthen collaboration around specific project cooperation, brand promotion, product marketing, and talent training, and through deep integration of AI and robotics technology, jointly build replicable and scalable "humanoid robot + smart factory" demonstration application scenarios, advancing the systematic upgrade and global deployment of intelligent manufacturing.
03/
Hangzhou City Investment Group and Zhipu AI Release Phase I Results of Hangzhou City Investment AI Industrial Large Model Project
Recently, Hangzhou City Investment Group (Hangzhou City Construction Investment Group Co., Ltd.), together with Qiming Venture Partners portfolio company Zhipu AI, announced the official release of the Phase I construction results of their jointly developed Hangzhou City Investment AI industrial large model project.
This marks an industrial breakthrough for the GLM large model in urban public services, and a model practice in actively responding to the call to "accelerate the implementation of 'AI+' initiatives through sustained technological innovation." The core results unveiled this time are built on Zhipu AI's latest GLM-4.5 foundation model, GLM-4.5V multimodal model, and Zhipu AI's MaaS open platform (bigmodel.cn), combined with Hangzhou City Investment Group's advanced industry expertise. They encompass multiple "first-in-China" large models and intelligent agents, including the nation's first bus transit large model, the AutoGLM flood prevention agent, a multimodal large model for road and bridge maintenance, and a self-learning waste collection and dispatching agent.
04/
Hesai Technology Signs Over $40 Million LiDAR Order with Leading U.S. Robotaxi Company
Recently, Qiming Venture Partners portfolio company Hesai Technology (NASDAQ: HSAI, 02525.HK) announced a deepened partnership with a leading U.S. Robotaxi company, signing a liDAR order valued at over $40 million. Hesai Technology will serve as its sole liDAR supplier, providing both long-range and short-range liDAR products, with delivery scheduled for completion by the end of 2026. This collaboration fully demonstrates Hesai Technology's position as a reliable partner in enabling the scaled development of next-generation autonomous driving fleets.
David Li, co-founder and CEO of Hesai Technology, stated: "This deepened cooperation confirms the recognition from global leading Robotaxi enterprises of Hesai Technology's technical capabilities, product reliability, and mass production scalability. As the industry transitions from pilot demonstrations to scaled deployment, Hesai Technology will continue to provide industry-leading liDAR solutions that meet the highest safety standards, safeguarding large-scale unmanned driving fleets."
05/
Yunji Technology Reaches Innovative Partnership with Alipay
At the recently held 2025 Bund Summit, Qiming Venture Partners portfolio company Yunji Technology reached an innovative partnership with Alipay, achieving deep technical integration between Yunji Technology's intelligent agents and Alipay's "Treasure Box" to jointly create an enhanced smart hotel service experience.
As a global leading service robot intelligent agent enterprise, Yunji Technology showcased its digital employee Yuni, third-generation hotel service robot UP, and intelligent vending cabinet at the "Alipay Smart Hotel" exhibition zone.
The two parties will continue to deepen their cooperation, expanding intelligent services to more scenarios and using hotels as a pivot to build a broader intelligent ecosystem. They will integrate the vision of "robots making humanity happier" into daily travel life, jointly creating intelligent and convenient experiences.
06/
Kepower Energy Reaches 2.5 GWh Energy Storage Strategic Cooperation with Paneco Group
Recently, Qiming Venture Partners portfolio company Kepower Energy held a strategic cooperation signing ceremony with Paneco Group, a global leading energy system integrator and operator. Under the agreement, the two parties will establish a strategic partnership in battery energy storage systems, jointly developing the European market with an expected cooperation capacity of approximately 2.5 GWh, primarily for grid-connected projects in Europe.
This cooperation will focus on grid-scale energy storage projects, providing advanced energy storage solutions to help improve grid stability in Europe, optimize energy structure, and promote renewable energy integration. This not only aligns with the global energy transition trend but will also create new business growth points for both parties.
07/
Insilico Medicine Reaches Strategic Cooperation with Mabwell Biotech and Haoyuan Chemexpress
Recently, Qiming Venture Partners portfolio company Insilico Medicine announced a formal strategic cooperation agreement with Mabwell Biotech and Haoyuan Chemexpress. The three parties will adhere to the cooperation philosophy of "complementary strengths, resource sharing, collaborative innovation, and mutual benefit," working together to build a novel antibody-drug conjugate (ADC) compound library covering hundreds of targets, screening and advancing next-generation ADC candidate molecules to accelerate the industrialization of innovative ADC drugs.
Dr. Feng Ren, Co-CEO and Chief Scientific Officer of Insilico Medicine, stated: "Antibody-drug conjugates (ADCs) are hailed as 'magic bullets,' demonstrating tremendous potential in oncology treatment through their unique mechanism and high targeting specificity. They represent one of the important novel therapeutic modalities that Insilico Medicine has long focused on and heavily invested in. This tripartite cooperation with Mabwell Biotech and Haoyuan Chemexpress pioneers a new ABC (AI + BioTech/BioPharma + CRO/CDMO) model for ADC research and development —打通ing the full-chain deep collaboration of AI empowerment, BioTech/BioPharma-driven development, and CRO/CDMO execution. We believe that through this innovative model, we can continuously accelerate ADC drug development and push safer, more effective treatment options to benefit patients worldwide sooner."
08/
Yanyin Technology Reaches Tripartite Strategic Cooperation with STEX Digital Technology and XinChao Data
Recently, Qiming Venture Partners portfolio company Yanyin Technology formally signed a tripartite strategic cooperation agreement with STEX Digital Technology (Shanghai) Co., Ltd. (hereinafter "STEX Digital") and Shanghai XinChao Data Technology Co., Ltd. (hereinafter "XinChao Data").
The three parties will fully integrate their respective unique advantages in artificial intelligence, national-level data resources, and biomedicine to jointly build a health and medical data cooperation ecosystem, promoting the release of data element value, efficient transformation of scientific and technological achievements, and industrial digital-intelligent upgrading.
Dr. Zeping Chen, Founder and CEO of Yanyin Technology, stated: "We are honored to reach strategic cooperation with STEX Digital and XinChao Data. XinChao Data's profound accumulation in biomedical data, combined with STEX Digital's authoritative position in data governance and market transformation, will bring unprecedented development opportunities to Yanyin Technology's intelligent research cloud platform. We believe that through the close collaboration of all three parties, we will create a more intelligent and efficient new paradigm of research and development for biomedical researchers and enterprises."
R&D Progress
01/
Antengene to Present Latest Preclinical Research Results of ATG-201 at American College of Rheumatology Annual Meeting
Recently, Qiming Venture Partners portfolio company Antengene (06996.HK) announced that it will present the latest preclinical research results of ATG-201 (CD19×CD3 TCE) in poster format at the 2025 American College of Rheumatology (ACR) Annual Meeting.
AnTenGager™ is a second-generation TCE platform independently developed by Antengene with steric hindrance masking effects, featuring a "2+1" bivalent binding structure that can target low-expression targets. It integrates steric hindrance masking technology with a proprietary CD3 sequence featuring fast binding/dissociation kinetics to reduce cytokine release syndrome (CRS) risk while enhancing efficacy. These technical advantages give the platform broad application prospects in autoimmune diseases, solid tumors, and hematological malignancies. ATG-201 is a novel "2+1" CD19-targeted T-cell engager under the AnTenGager™ TCE platform for the treatment of B cell-related autoimmune diseases.
02/
Sainty Bio Announces SGB-3383 Injection Approved for Phase II Clinical Trial for New Indications in China
Qiming Venture Partners portfolio company Sainty Bio announced that its independently developed small nucleic acid (siRNA) drug SGB-3383 injection, targeting complement factor B (CFB), has recently received approval from the National Medical Products Administration (NMPA) for Phase II clinical trials for new indications, for the treatment of complement-mediated blood diseases including paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS).
This approval marks the expansion of SGB-3383's therapeutic scope in complement-mediated diseases from the renal system to the hematological system. The drug had previously received approval in May 2025 in China to commence clinical trials for complement-mediated kidney diseases, including IgA nephropathy and C3 glomerulopathy.
03/
AmoyDx Supports West China Hospital, Sichuan University Team in Nature Sub-Journal Publication
Professor Ting Luo's team at West China Hospital, Sichuan University previously conducted a single-arm Phase II clinical trial (NeoPanDa03), innovatively combining the anti-PD-1 antibody camrelizumab, the VEGFR-2 inhibitor apatinib, and chemotherapy as neoadjuvant therapy (NAT) for early-stage or locally advanced triple-negative breast cancer (TNBC). The triple-combination regimen achieved a total pathological complete response (tpCR) rate of 67.6%, demonstrating significant clinical potential. The research findings were published in the Nature sub-journal Signal Transduction and Targeted Therapy (STTT) (IF: 52.7). Qiming Venture Partners portfolio company AmoyDx (300685.SZ) participated extensively in this study, revealing efficacy-related biomarkers through multi-omics analysis.
In this study, AmoyDx leveraged its deep expertise in molecular diagnostics for precision oncology to actively contribute to multi-omics biomarker exploration. The company successfully developed a novel efficacy prediction scoring system with the potential to enable more precise stratification of TNBC patients and elevate individualized treatment; simultaneously, it provided multi-dimensional insights into treatment resistance mechanisms, supporting precision-assisted decision-making in neoadjuvant therapy settings.
Corporate Development
CrownBio Opens New Model R&D Center in North Carolina, United States
Recently, Qiming Venture Partners portfolio company CrownBio announced the official opening of a new R&D center in Kannapolis, North Carolina, United States. This expansion will further broaden CrownBio's operational footprint while enhancing its supply of advanced preclinical oncology models, covering patient-derived xenograft (PDX) models, PDX warm-sensitive models, PDX-derived organoid (PDXO) models, and patient-derived organoid (PDO) models, to address the evolving R&D needs of global pharmaceutical and biotechnology companies.
The new R&D center is oriented around advancing clinically relevant oncology models. Through collaboration with CrownBio's global R&D network, it will further refine the company's model platform ecosystem. Additionally, to align with industry development trends, the center will accelerate the integration and application of 3D cell culture and organoid technologies.
Technology Strength
01/
WeRide Robobus Receives Belgium's First L4 Autonomous Driving License
Recently, Qiming Venture Partners portfolio company WeRide (NASDAQ: WRD) announced that its autonomous minibus Robobus ("WeRide Robobus") has officially received Belgium's first federal-level L4 autonomous driving test license. WeRide has thus become the only technology company globally whose products hold autonomous driving licenses in seven countries, covering Belgium, China, France, the United Arab Emirates, Saudi Arabia, Singapore, and the United States.
WeRide CFO and International Lead Xuan Li stated: "As an autonomous driving technology company, our ultimate goal has always been to achieve safe and reliable L4 fully driverless operations. Obtaining the Belgium autonomous driving test license is a critical step toward this goal — it allows us to demonstrate the robust capabilities of our autonomous driving technology in real-world road scenarios, and sets a benchmark for more European countries to open up autonomous driving testing. We are deeply grateful to the Belgian authorities for their trust in our technology, and even more so for their strong support of safer, smarter, and more sustainable future mobility."
02/
Light Year AI Appears at 2025 INCLUSION·Conference on the Bund
Recently, Qiming Venture Partners portfolio company Light Year AI appeared at the 2025 INCLUSION·Conference on the Bund, showcasing rich case studies of trustworthy AI full-stack technology deployed in financial scenarios.
Light Year AI relies on its leading trustworthy AI full-stack technology system to horizontally integrate platform service capabilities spanning "compute — toolchain — model — application," while vertically focusing on two core domains: finance and scientific intelligence. In the financial sector, Light Year AI innovatively combines the dual-engine advantages of neuro-symbolic computing (excelled at logical rule-based reasoning) and large language models (learning from massive data), integrating financial domain-specific data and knowledge to build a complete capability closed loop of "precise computation — controllable reasoning — transparent decision-making."
03/
Movtion Power Completes Assembly of World's First Hydrogen-Ammonia Dual-Fuel Gas Turbine Unit at Inner Mongolia Chifeng Base
Recently, the world's first hydrogen-ammonia dual-fuel gas turbine unit, independently developed by Qiming Venture Partners portfolio company Movtion Power, completed assembly at its Inner Mongolia Chifeng base. The unit will undergo full-machine performance testing at the base's "Pan-Hydrogen Gas Turbine Test Center," marking the imminent market entry of this model and representing a milestone step for China's gas turbine industry in zero-carbon hydrogen-ammonia dual-fuel power generation.
Once operational, a single unit can generate up to 70 million kWh annually. The zero-carbon electricity produced by hydrogen-ammonia gas turbines represents an ideal solution for the current transition from traditional energy and the integration of new energy sources, and has already demonstrated strong market appeal domestically and internationally. The company has secured意向 orders from multiple countries and regions including Germany, the United States, and Australia.
04/
HyperStrong Supports Construction of Inner Mongolia Datang Chifeng Kangjiaying Grid-Side Independent New-Type Energy Storage Demonstration Project
Recently, Qiming Venture Partners portfolio company HyperStrong (688411.SH) announced its support in completing the Inner Mongolia Datang Chifeng Kangjiaying 150MW/600MWh grid-side independent new-type energy storage demonstration project.
The project employs HyperStrong's flagship large-scale storage product, featuring core advantages including safety and reliability, low LCOS, high integration, long lifespan, and strong environmental adaptability. Tailored to the site's specific environmental conditions, the product incorporates special designs for thermal insulation and sandstorm protection, combined with customized operational strategies to ensure stable equipment performance under extreme conditions.
05/
52TOYS Participates in 2025 China International Fair for Trade in Services
Recently, Qiming Venture Partners portfolio company 52TOYS showcased its original IPs at the 2025 China International Fair for Trade in Services.
Among the highlights, 52TOYS' creative products developed in collaboration with "Guobo Yanyi," the cultural and creative brand of the National Museum of China, were unveiled to the public for the first time. The "Artifacts Take a Walk" series from its Hyper活化 line reinterprets two of the museum's most treasured artifacts — the "Pottery Storyteller Figurine" and the "Pottery Eagle Ding" — through a modern creative lens. Using wind-up toys, the collection brings these ancient artifacts to life, imbuing them with fresh vitality. Meanwhile, the "Azure Dragon and White Tiger Set" from the Beast Box line presents auspicious creatures from traditional Chinese culture as transformable mecha toys, aiming to spark players' interest in cultural heritage through hands-on, interactive experiences.
06/
Shenzhen Hongji Medical Participates in the 42nd World Congress of Endourology and Urological Techniques
Recently, Qiming Venture Partners portfolio company Shenzhen Hongji Medical participated in the 42nd World Congress of Endourology and Urological Techniques (WCET2025). Through two high-level academic seminars and an innovative product exhibition, the company demonstrated its technical breakthroughs and research capabilities in full, becoming one of the focal points of the congress.
The first academic seminar re-evaluated the importance of flexible ureteroscope diameter in retrograde intrarenal surgery (RIRS) through analysis of extensive clinical data and case studies. Research showed that a 6.3Fr flexible ureteroscope is suitable for over 98% of routine surgical procedures, and offers significant advantages in cases of failed 7.5Fr catheterization, large-body or pediatric patients, and bilateral ureteral diagnosis and treatment.
The second academic seminar focused on research into the Flexible Aspiration Net Sheath (FANS) — a stent-free, guidewire-free, fluoroscopy-free approach. Studies demonstrated that the 6.3Fr system achieved 100% clearance of stones under 2mm in diameter without obstruction, along with 100% renal access rates and reduced postoperative pain ratings from patients undergoing RIRS.
07/
Zai Lab Announces KarXT Included in China's Schizophrenia Prevention and Treatment Guidelines (2025 Edition)
The Chinese Guidelines for the Prevention and Treatment of Schizophrenia (2025 Edition), compiled by the Chinese Medical Association's Psychiatric Branch, was recently released. Qiming Venture Partners portfolio company Zai Lab (NASDAQ: ZLAB, 09688.HK) announced that KarXT (xanomeline-trospium), an M1/M4 muscarinic acetylcholine receptor agonist, has been included in the guidelines — marking the first time KarXT has been incorporated into a national-level guideline anywhere in the world.
Zai Lab obtained exclusive licensing rights from Karuna Therapeutics (acquired by Bristol-Myers Squibb) for the development, manufacturing, and commercialization of KarXT in Greater China, including mainland China, Hong Kong, Macau, and Taiwan.
08/
DeepWise Proposes AI for Science Closed-Loop Wet-Dry Electrolyte R&D Intelligence System
Recently, Qiming Venture Partners portfolio company DeepWise proposed an innovative AI for Science closed-loop wet-dry electrolyte R&D intelligence system. This model deeply integrates two core modules — experimental validation (wet lab) and computational simulation (dry lab) — to build an efficient R&D system with weekly iteration cycles and hundred-level throughput, providing a new pathway for accelerated breakthroughs and industrial upgrading of electrolyte technology.
Compared to traditional R&D models, the wet-dry closed-loop approach leverages automated electrolyte preparation and dispensing stations, coin cell assembly workstations, and an intelligent laboratory operating system. This substantially improves system compatibility and throughput for electrolyte preparation and battery assembly, maximizes consistency and reliability of test data, and boosts R&D efficiency by an order of magnitude. This innovative technical system offers the electrolyte R&D field a solution that combines technological advancement with cost-effectiveness, delivering significant industry demonstration value.
09/
Zhenluo Science Presents at the 28th National Congress of Neurology of the Chinese Medical Association
Recently, Qiming Venture Partners portfolio company Zhenluo Science showcased its full spatiotemporal Parkinson's disease diagnosis and treatment system solution and core product portfolio at the 28th National Congress of Neurology of the Chinese Medical Association (NCN 2025). Addressing practical challenges faced by clinicians and patients, Zhenluo Science has built a full spatiotemporal diagnosis and treatment system covering screening, diagnosis, assessment, intervention, rehabilitation, and management, implemented through a comprehensive service operations system.
Zhenluo Science's self-developed next-generation intelligent neurological disease assessment platform, MATRIX Pro, attracted considerable interest and hands-on engagement from specialists at the event. Built on cutting-edge technologies including multi-modal sensing and intelligent algorithms, MATRIX Pro enables clinicians to efficiently obtain diverse kinematic parameters and complex quantitative disease symptom assessments, providing insight into the underlying logic of each symptom and understanding the individual differences of every patient.
10/
Fushoukang Attends the 8th China Senior Care Industry Lujiazui Summit
Recently, Qiming Venture Partners portfolio company Fushoukang, as an innovator in smart home-based elderly care, was invited to attend the 8th China Senior Care Industry Lujiazui Summit. Fushoukang Chief Technology Officer Yuan Xiang delivered a keynote speech titled "AI Applications in Home-Based Elderly Care Scenarios." Drawing on Fushoukang's successfully deployed intelligent care service network nationwide, he provided an in-depth analysis of innovative AI applications across multiple critical scenarios in home-based elderly care.
During his presentation, Yuan Xiang also demonstrated Fushoukang's self-developed smart medical and elderly care system. Built on AI core algorithms trained on trillion-level health data, the system continuously tracks multi-dimensional health indicators of seniors, dynamically generates risk prediction models, and delivers "7×24" intelligent guardianship through a digital human interface — constructing a closed-loop protection system from risk prediction to emergency response, providing seniors with seamless, round-the-clock, full-scenario care.
11/
Tellgen Presents at the 20th Beijing Health Management Forum and 17th Annual Meeting of the Beijing Health Management Association
Recently, Qiming Venture Partners portfolio company Tellgen (300642.SZ) showcased multiple health management testing products at the 20th Beijing Health Management Forum and 17th Annual Meeting of the Beijing Health Management Association.
Autoantibody detection, as an important laboratory diagnostic tool, is gradually expanding from clinical diagnosis into health management, offering a new perspective for early disease warning. Multiple studies have found that elevated levels of individual autoantibody indicators, as well as simultaneous elevation of multiple related indicators, are both high-risk factors for autoimmune diseases. Therefore, the importance of quantitative and multi-indicator combined testing for autoantibody detection is beyond doubt — and Tellgen's flow fluorescence technology is well-positioned to meet this need.
12/
Nuomaxinnov Presents at the 2025 Rhinology Academic Conference of the Chinese Medical Association
At the recently held 2025 Rhinology Academic Conference of the Chinese Medical Association, Qiming Venture Partners portfolio company Nuomaxinnov showcased several core products, including a low-temperature plasma surgery system and electrodes, a comprehensive ENT power platform, an integrated ENT imaging solution, a sinus dilation system, a Eustachian tube balloon dilation catheter, and a 4K remote surgery intelligent system.
Nuomaxinnov's self-developed integrated solution for otorhinolaryngology and cranio-spinal surgery reflects its deep expertise in minimally invasive technology, and marks the advanced capabilities of domestic medical equipment in precision, intelligence, and clinical adaptability.
13/
SceneRay Presents Latest Brain-Computer Interface DBS Products at Asian Deep Brain Stimulation Congress
At the Asian Deep Brain Stimulation (ADBS) Congress, Qiming Venture Partners portfolio company SceneRay presented its latest innovative brain-computer interface DBS products, demonstrating its innovative achievements and technical strength in the DBS 2.0 era.
SceneRay's eight-contact product, Gemini system, and Brain Universe Star-Guided visual programming system are its core products for the DBS 2.0 era. Through multi-target design and innovative extension lead design, it enables more flexible neural circuit intervention, allowing combined modulation of multiple neural circuits and providing entirely new treatment approaches for complex conditions. This multi-neural-circuit combined modulation technology not only breaks through the limitations of traditional DBS technology, but also opens new pathways for revolutionizing neurological disease treatment models and improving patient outcomes.
14/
Dingke Medical at Malaysia Cardiovascular Intervention Symposium
At the Malaysia Cardiovascular Intervention Symposium, Qiming Venture Partners portfolio company Dingke Medical officially launched its DK Score® coronary scoring balloon in the Malaysian market.
During the conference, Dingke Medical collaborated with Seremban Hospital in Malaysia for a live surgery broadcast of a proximal-to-mid right coronary artery procedure, jointly performed by Dr. Rustem Dautov from Prince Charles Hospital in Australia and Dr. Liew Houng Bang from Queen Elizabeth II Hospital in Malaysia. The DK Score® coronary scoring balloon was used throughout the procedure for lesion vessel preparation, directly demonstrating the product's clinical value in vessel preparation.
Additionally, in his themed presentation "Novel Devices and Techniques in CTO PCI," Dr. Rustem Dautov highlighted the DK Score® coronary scoring balloon, explicitly noting that the product's cutting effect is comparable to conventional cutting balloons, providing an excellent device option for interventional treatment of complex lesions such as CTO.
Corporate Honors
01/
Eight Qiming Venture Partners Portfolio Companies Named to MIT Technology Review's 50 Smartest Companies
Recently, MIT Technology Review released its annual 50 Smartest Companies (TR50) list. The selection aims to identify smart companies that are changing the present and have the potential to change the future. Qiming Venture Partners portfolio companies Bilibili (NASDAQ: BILI, 09626.HK), StepFun, DeepWise, Infinigence AI, Xiaomi (01810.HK), Insilico Medicine, Insta360 (688775.SH), and Zhipu AI were named to the list.
According to MIT Technology Review's definition, smart companies should possess two characteristics: smartly developing and using new technologies, and smartly understanding market and business opportunities. They leverage technological innovation as their path forward, combined with sustainable business models, to extend technology's impact globally. Since establishing the "50 Smartest Companies" selection in 2010, MIT Technology Review has been committed to uncovering innovation-driven enterprises with global influence. In 2019, MIT Technology Review first introduced the concept of "China Pivot," bringing the "50 Smartest Companies" (TR50) selection to China. In each subsequent selection, MIT Technology Review has proposed different core concepts based on technological developments and trend shifts, such as "China Momentum" in 2020 and "China Leadership" in 2021.
This year, guided by "Breaking Boundaries" and focused on "China's Future," MIT Technology Review comprehensively analyzed dimensions including technological innovation, globalization capability, and commercialization capacity, examining innovative forces that are "in China, by China, for China" — those capable of driving waves of technological development in China and worldwide through continuous breakthroughs in technology, paradigms, and domains.
02/
WeRide Named to 2025 Fortune Future 50
Recently, the 2025 Fortune Future 50 list was released, with the selection aimed at identifying companies with long-term growth potential. Qiming Venture Partners portfolio company WeRide (NASDAQ: WRD) was named to the list.
This year, Boston Consulting Group (BCG) and Fortune magazine collaborated to distill 25 key indicators, conducting in-depth analysis of companies' strategic positioning, technological capabilities, talent pool, organizational structure, and corporate culture. Each indicator is highly correlated with above-average business performance, and together they constitute BCG's "Net Vitality Score," which organizers used to select listed companies.
03/
Infinigence AI's Yu Wang Named to Zhihu AI Pioneers Inaugural List
Recently, Zhihu unveiled its inaugural AI Pioneers list, a selection aimed at identifying promising talent actively shaping the next generation of AI. Yu Wang, professor at the Department of Electronic Engineering at Tsinghua University and founder of Qiming Venture Partners portfolio company Infinigence AI, was named to the list.
Qi Hu, executive director at Qiming Venture Partners, was invited to serve as a judge for the selection. Evaluation criteria included innovation, critical thinking, influence, ecosystem value, and development potential.
Past Issues
Qiming Weekly | Qiming Venture Partners Portfolio Company Financing and Updates Vol. 34, 2025 Qiming Honors | Qiming Venture Partners Selected for China Funds' Second Annual Private Equity and Venture Capital Yinghua Demonstration Cases
Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $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 enterprises. More than 210 of these companies have gone public on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or have exited through mergers and acquisitions. Over 80 portfolio companies have become recognized unicorns or super-unicorns.
Many of Qiming's 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.