Qiming Venture Partners Weekly | Portfolio Company Updates and Funding News Vol. 39, 2025
Staying with you to mark milestone moments for Qiming Venture Partners' portfolio companies
Editor's Note: The "Qiming Weekly" column publishes regularly every week, rounding up financing news and development updates from Qiming Venture Partners' portfolio companies.
In the wave of technology and innovation, every step entrepreneurs take is worth recording. Qiming Venture Partners will continue to accelerate and empower entrepreneurs, and join you in marking the milestone moments of our portfolio companies.
Financing News
01/
Changsen Pharma Closes Hundreds of Millions of RMB in Series B+ Funding
Accelerating Core Pipeline Clinical Research and Global Expansion
Recently, Shanghai Changsen Pharma Co., Ltd. ("Changsen Pharma") announced the completion of a Series B+ financing round worth hundreds of millions of RMB, led by Qiming Venture Partners. The proceeds will primarily fund key clinical studies for its core pipeline and global expansion initiatives.
Founded in 2012 by Dr. Zhe Wang, a globally renowned expert in chemical drug R&D, Changsen Pharma is dedicated to independently developing first-in-class (FIC) and best-in-class (BIC, next-generation) innovative drugs with global intellectual property rights to address unmet clinical needs. The company holds nearly 100 invention patents, is recognized as a Shanghai "Specialized, Sophisticated, Distinctive, and Innovative" enterprise, and has undertaken multiple major projects for the Ministry of Science and Technology and Shanghai municipal government.
Kan Chen, Partner at Qiming Venture Partners and Co-Head of Healthcare Innovation, commented: "Changsen Pharma's breakthroughs in immunology, antiviral therapies, and autoimmune diseases are truly exciting. Its technology holds a globally leading position, with high clinical value and tremendous market potential. Qiming Venture Partners will continue to support the company's innovative development and international expansion, working together to advance the commercialization of its core pipeline."
02/
MiFE Technology Closes Nearly RMB 300 Million in Pre-IPO Round
Comprehensively Elevating China's Global Market Share in AMHS
Recently, Qiming Venture Partners portfolio company MiFE Technology officially announced the completion of its Pre-IPO financing round, totaling nearly RMB 300 million. The proceeds will be directed toward advanced AMHS (Automatic Material Handling System, also known as overhead hoist transport or OHT system) technology R&D and domestic and overseas production capacity building, further solidifying MiFE Technology's comprehensive leading position in the semiconductor AMHS sector and providing critical support for building an autonomous and controllable global business ecosystem.
Established in 2014 and headquartered in Shanghai's Lingang area, MiFE Technology is a national-level "Little Giant" specialized enterprise and a national high-tech enterprise. As China's first AMHS total solution provider to complete full-factory delivery at a global top-tier wafer fab and secure repeat purchase orders, MiFE Technology has built full-chain capabilities spanning hardware R&D, software integration, and verification delivery, while dominating the Chinese market.
MiFE Technology has now penetrated over 50 wafer fabs globally, with cumulative orders exceeding 20,000 units, completed deployment and acceptance of four full-factory OHT systems with ongoing OHT orders, led the release of China's first OHT standard, and captured over 70% of the domestic market.
As MiFE Technology founder and Chairman Feng Miao put it: "No one has set foot on this path for two or three decades — challenges and difficulties are the norm, but we have always kept the lighthouse in our hearts and moved forward with determination." This is not merely the choice of an enterprise, but the mission of an era. Amid global semiconductor industry shifts, MiFE Technology is steadily forging a path of high-quality growth — from breaking through as a domestic player to competing globally — backed by solid R&D accumulation, a clear commercial roadmap, and firm globalization strides.
Corporate ESG
HyperStrong Passes SA8000 Social Accountability Certification
Recently, Qiming Venture Partners portfolio company HyperStrong successfully passed SA8000 Social Accountability certification, marking a key achievement in its ESG strategy advancement. This signifies that HyperStrong has reached internationally advanced levels in social responsibility management, injecting strong momentum into the company's sustainable development.
As the world's first auditable international standard for social accountability, SA8000 was jointly developed in 1997 by Social Accountability International (SAI) alongside international organizations, carrying exceptional authority and credibility. The standard centers on employee health and safety, fair labor treatment, and opposition to discrimination and forced labor, serving as an "international benchmark" for measuring corporate social responsibility performance and a foundational pillar for winning market trust and achieving high-quality development.
HyperStrong has consistently treated social responsibility management as a core strategic priority, deeply integrating social responsibility principles into every aspect of production and operations — from institutional improvement and process optimization to employee training and rights protection. This successful certification represents full industry recognition of HyperStrong's past social responsibility practices, further strengthening the company's competitiveness in the "Social" dimension of ESG and adding a critical advantage in industry competition.
Major Partnerships
01/
Hesai Technology LiDAR Powers
Official Launch of Chery Automobile's Fengyun T11
Recently, the Chery Fengyun T11 — a flagship intelligent six-seat SUV — launched globally, introducing four variants: the 220 Rear-Wheel Drive Boya Luxury Edition, 220 Rear-Wheel Drive Dual IMAX Cinema Edition, 220 All-Wheel Drive Dual IMAX Cinema Edition, and 220 All-Wheel Drive FamilyMart Edition, with a limited-time starting price of RMB 179,900. The 220 All-Wheel Drive FamilyMart Edition features LiDAR from Qiming Venture Partners portfolio company Hesai Technology (NASDAQ: HSAI, 02525.HK). Since opening pre-orders, the Fengyun T11 has locked in 28,732 orders.
The Fengyun T11 is equipped with the Falcon advanced driver-assistance system, featuring 27 sensing units including Hesai LiDAR and a 200 TOPS computing chip, supporting full-scenario intelligent driving capabilities including highway NOA, urban NOA, and cross-floor memory parking. The all-scenario parking assistance precisely handles vertical, horizontal, and angled parking spaces, significantly reducing driving burden.
Going forward, Hesai Technology will continue to deepen its strategic partnership with Chery Fengyun, bringing consumers smarter, safer, and more efficient mobility options.
02/
Gold Intelligent Technology Enables Full Launch of CHD Financial Shared Services South China Center's Bank-Enterprise Reconciliation
Recently, CHD Financial Shared Services Center's South China branch fully deployed its bank-enterprise reconciliation project, successfully completing reconciliation tasks for all bank accounts — marking a significant breakthrough in management digitalization. The project was supported by Qiming Venture Partners portfolio company Gold Intelligent Technology's digital employee platform, precisely targeting the South China center's three objectives of "technological breakthrough, efficiency improvement, and experience optimization." The implementation achieved an 80% improvement in reconciliation efficiency and a 40% reduction in staffing requirements, injecting strong momentum into the South China center's digital transformation.
The successful implementation of this project fully demonstrates Kimzivia's digital workforce expertise in enterprise financial digitalization. Going forward, Kimzivia will continue working with CHD Financial Shared Service Center South China Branch to optimize system functionality and enhance business adaptability. Through continuous technological iteration, the company will strengthen financial security safeguards and drive the transformation of shared finance from "basic operations" to "value creation."
03/
Kimzivia and Guotai Haitong Securities Form Strategic Partnership to Build New Intelligent Brokerage Ecosystem
Recently, Qiming Venture Partners portfolio company Kimzivia was invited to attend the 2025 Guotai Haitong Securities Financial Technology Culture Festival Thematic Forum and Shanghai Suhewan Conference High-End Dialogue, where Kimzivia and Guotai Haitong Securities formally signed a strategic cooperation agreement, jointly opening a new chapter in their partnership.
Based on this agreement, Kimzivia will collaborate with Guotai Haitong Securities, leveraging their respective strengths in technological innovation and financial services to conduct in-depth cooperation across multiple dimensions: jointly building a financial digitalization and intelligent transformation ecosystem, establishing a joint innovation laboratory, and co-developing and promoting AI Agent digital workforce scenarios. Through a long-term, stable strategic partnership, the two parties will achieve complementary advantages and mutual benefit, driving high-quality business development for both sides.
With financial business needs as the driving force, both parties will focus on core segments including investment banking, wealth management, compliance and risk control, and operational support, exploring implementable intelligent solutions and promoting the formation of replicable, scalable digital transformation models for the industry.
This strategic signing not only marks a comprehensive upgrade in the relationship between Kimzivia and Guotai Haitong Securities, but also signals that intelligent agent construction in the brokerage industry is moving from localized pilots toward a new stage of ecosystem-based, systematic development. Through an open and collaborative ecosystem model, both parties will work together to build a new fintech ecosystem integrating technological innovation, resource sharing, and industrial empowerment, supporting the high-level development of the industry.
04/
Hesai Technology and Fibocom Jointly Release Robotic LiDAR Solution
Recently, Qiming Venture Partners portfolio company Hesai Technology reached a strategic cooperation with Fibocom to jointly release a LiDAR-based multimodal fusion perception and control solution for robotics. Centered on 3D LiDAR technology and AI vision algorithms, this collaboration focuses on hot areas such as Embodied Artificial Intelligence, quadruped robotic dogs, and lawn-mowing robots, helping robots achieve precise positioning, environmental perception and obstacle avoidance, path planning and navigation, and other key functions — injecting new momentum into the intelligent upgrading of the robotics industry. The solution has already been applied to the latest robotic products of a leading domestic Embodied Artificial Intelligence company.
Fibocom's robotic solution is equipped with Hesai's JT series mini 3D LiDAR, integrating laser SLAM, V-SLAM, AI depth estimation algorithms, and multi-sensor fusion positioning algorithms to provide stable centimeter-level positioning information for mobile robots in both outdoor open and indoor enclosed environments. Its highly integrated, all-in-one design enables efficient deployment for customers. This solution significantly enhances robot adaptability and reliability when moving in complex scenarios, and can be widely used in wheeled and legged robots for commercial services, surveying and inspection, logistics delivery, and emergency rescue applications. The solution made its debut at the ROSCon China exhibition, receiving extensive attention from industry professionals.
R&D Progress
01/
Belief BioMed Completes First Patient Dosing in Registration Clinical Study of Gene Therapy for Knee Osteoarthritis
Recently, Qiming Venture Partners portfolio company Belief BioMed, an innovative enterprise focused on cutting-edge gene therapy, announced that its independently developed and manufactured BBM-A101 injection has completed first patient dosing in its registration clinical study (CTR20253631). The study is led by Director Jie Zhao of the Orthopedics Department at Shanghai Ninth People's Hospital, Shanghai Jiao Tong University School of Medicine.
This study is a randomized, single-dose registration clinical study designed to evaluate the safety, tolerability, and efficacy of a single intra-articular injection of BBM-A101 injection in patients with moderate knee osteoarthritis (Kellgren-Lawrence grade 2 or 3). Previously, BBM-A101 injection completed an investigator-initiated clinical trial (IIT, ChiCTR2200062256) for knee osteoarthritis, which enrolled 15 subjects. Current clinical data show that BBM-A101 injection has good safety and tolerability, with encouraging therapeutic potential observed. These positive data laid a solid foundation for the product's entry into the registration clinical stage.
Dr. Xiao Xiao, co-founder, chairman, and chief scientist of Belief BioMed, stated: "The completion of first patient dosing for BBM-A101 injection is not only the beginning of the registration clinical study, but also a critical step for Belief BioMed in fulfilling its mission to explore new gene therapy solutions for chronic disease patients, demonstrating our firm commitment to pioneering exploration in this cutting-edge field. We extend our sincere gratitude to the patients participating in this study, as well as our clinical collaborators, regulatory agencies, and all project team members. Patients' trust is the driving force that propels us forward, and collaboration from all parties is the cornerstone of our success. We will fully advance our R&D efforts, moving forward with concentrated strength, striving to bring breakthrough therapies to patients as soon as possible."
02/
Gan & Lee Pharmaceuticals Completes First Patient Dosing in Phase III Clinical Study GRADUAL-2 of Bofanglutide (GZR18) Injection for Obesity/Overweight in China
Recently, Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH) announced that its independently developed glucagon-like peptide-1 receptor agonist (GLP-1RA) biweekly formulation Bofanglutide (development code: GZR18) injection has completed first patient dosing in a Phase III clinical study (GRADUAL-2) in obese or overweight subjects in China. This is also the second large-scale Phase III head-to-head clinical study of Bofanglutide injection against Semaglutide, designed to comprehensively evaluate its potential to improve weight-related indicators, glucose metabolism and other metabolic parameters, obesity-related complications, and cardiovascular disease risk factors.
This study is a multicenter, randomized, open-label, parallel Phase III clinical study comparing the efficacy and safety of Bofanglutide versus Semaglutide (Novo Nordisk's Wegovy®) in adult obese or overweight subjects (Drug Clinical Trial Registration and Information Publicity Platform: CTR20252970). The principal investigator is Professor Linong Ji of Peking University People's Hospital. The study plans to enroll 471 adult obese or overweight subjects with inadequate weight control through diet and exercise, including up to 20% with concomitant type 2 diabetes. Qualified subjects will be randomly assigned to receive either biweekly Bofanglutide 24mg, biweekly Bofanglutide 48mg, or weekly Semaglutide (Wegovy®) 2.4mg. The primary endpoint is the percentage change in body weight from baseline after 52 weeks of treatment.
Previously, Bofanglutide has conducted a Phase III clinical study in obese or overweight subjects in China (GRADUAL-1) to evaluate its efficacy and safety. This head-to-head Phase III clinical study against Semaglutide (Wegovy®) (GRADUAL-2) will further validate Bofanglutide's efficacy and safety in obese or overweight subjects, and assess its comprehensive improvement capabilities across different metabolic indicators and cardiovascular risk factors.
Product Launches
01/
Tungee Launches Large Model Intelligent Agent Platform Focused on Digital Productivity
Recently, Qiming Venture Partners portfolio company Tungee has launched a large model intelligent agent platform focused on digital productivity. The platform enables every enterprise to have its own AI digital workforce, ushering in a new era of human-machine collaboration.
Tungee's next-generation AI digital workforce goes beyond single-function automation tools. These "digital productivity units" possess business understanding, autonomous decision-making, and execution capabilities, fundamentally reshaping how enterprises create value. They feature three core attributes: (1) Human-like thinking and execution — with planning, reasoning, and complex task execution abilities, available 7×24 to ensure "business never stops, even when people do." (2) Deep industry expertise — trained on industry know-how and business logic accumulated from serving over 50,000 enterprises, they arrive as "expert-level" employees from day one. (3) Adaptability and flexible collaboration — supporting on-demand customization, seamless integration into existing workflows, and dynamic optimization as business needs evolve, enabling true intelligent coordination.
To help enterprises deploy their own AI digital workforce with lower barriers and greater speed, Tungee has launched AI Agents covering core B2B and B2C business scenarios. With an "out-of-the-box" product design, businesses can rapidly translate intelligent technology into tangible productivity.
02/
Insta360 Launches the Insta360 X4 Air
Qiming Venture Partners portfolio company Insta360 recently unveiled the Insta360 X4 Air, featuring an ultra-light 165g body and 8K30fps 360° video capture. Paired with an invisible selfie stick, it achieves drone-like low-altitude tracking shots. Users can also switch to traditional wide-angle action camera mode with up to 4K60fps and a 170° ultra-wide field of view.
The device features a replaceable lens design, FlowState stabilization, and 360° horizon leveling to ensure steady, clear footage even during intense motion. It includes a new microphone wind shield to effectively filter wind noise, plus built-in audio modes for intelligent wind noise reduction, voice enhancement, stereo, and panoramic sound. Upgrades to portrait mode and tone enhancement deliver improved results: the new portrait mode produces naturally radiant skin tones and more dimensional facial features, while tone enhancement mode records light data to automatically adjust exposure, contrast, and color.
The X4 Air integrates seamlessly with the Insta360 App, whose AI-powered one-tap editing automatically clips footage, matches music and templates, and supports up to 2TB of Insta360+ cloud storage for more efficient asset management.
Tech Strength
01/
WeRide Attends China-Singapore Business Forum
Showcasing new achievements in autonomous driving globalization
Recently, Chinese Premier Sam Li and Singapore Deputy Prime Minister Gan Kim Yong co-hosted the China-Singapore Business Forum in Singapore, bringing together senior government officials and leading enterprise representatives from both countries to explore deepening bilateral economic cooperation and driving innovative, win-win development.
As one of the Chinese enterprise representatives at the forum, Qiming Venture Partners portfolio company and global autonomous driving leader WeRide (NASDAQ: WRD) was invited to speak, reporting to leaders and guests from both countries on its phased achievements and latest progress in Singapore.
WeRide Vice President Luo Lin attended and shared remarks. She noted that WeRide's development in Singapore represents an important microcosm of Chinese autonomous driving technology going global, demonstrating how technological innovation integrates into regional cooperation and sustainable development agendas.
Luo stated: "Since establishing our regional headquarters in Singapore in 2022, WeRide has consistently viewed Singapore as a strategic hub for Southeast Asian expansion, receiving sustained support from Singaporean government agencies. The Land Transport Authority, Ministry of Transport, and Economic Development Board have provided crucial assistance in vehicle certification and talent recruitment. Former Prime Minister Lee Hsien Loong and current Acting Minister for Transport and other senior officials have visited WeRide headquarters, fully reflecting the Singaporean government's high regard and continued attention to Chinese autonomous driving technology."
With strong support and steadfast trust from senior leadership on both sides, WeRide has achieved multiple major breakthroughs in Singapore since 2024: its autonomous minibuses began regular operations and, by July 2025, achieved fully driverless operation — becoming Southeast Asia's first autonomous vehicle operating without a safety attendant inside; commercially, the company secured an investment commitment from Southeast Asia's leading mobility platform Grab in August 2025, jointly launching Grab's first consumer-facing autonomous mobility service — the Ai.R (Autonomously Intelligent Ride) program; autonomous sanitation vehicles have also been deployed for regular operations in key areas including Marina Coastal Drive and the Esplanade; and WeRide founder and CEO Dr. Han Xu was invited to join Singapore's Autonomous Vehicles Advisory Committee, participating in the formulation of national-level autonomous driving policies, operational standards, and technical roadmaps.
Infinigence AI's Full Suite of On-Device Intelligence Debuts at WTCC
Recently, the inaugural global AI tech enthusiast gathering — the West Bund International Technology and Consumer Carnival (WTCC) — concluded successfully at the Shanghai West Bund International Convention and Exhibition Center. Qiming Venture Partners portfolio company Infinigence AI unveiled its complete "on-device intelligence suite," showcasing its comprehensive "on-device model + on-device software + on-device IP" boundless terminal intelligence solution: under strictly constrained local compute and power budgets, full-stack collaborative optimization from models through inference software to chip IP enables comprehensive improvements in terminal intelligence performance, energy efficiency, and user experience. Infinigence AI Product and Solutions Director Huang Linpu was invited to deliver a keynote at the forum titled "A New Paradigm of Hardware-Software Collaboration Based on AI Agents, Opening a New Era of Universal Terminal Intelligence."
At the exhibition, the Infinigence AI booth offered hands-on demonstrations of its integrated "on-device model + on-device software + on-device IP" terminal intelligence solution. The Infini-Megrez on-device model, with multimodal capabilities spanning text, image, and audio, drew significant attention for combining 3B-level compute costs and 7B-level memory requirements with 21B-level intelligence — achieving faster, stronger, and more efficient results under equivalent memory, size, and precision constraints. Meanwhile, Infinigence AI's self-developed on-device AI inference engine Infini-Mizar and on-device AI inference IP Infini-Merak form a "dual-wheel drive" that not only supports multi-chip ecosystems and heterogeneous compute collaboration, but also enables millisecond-level response for terminal intelligent agents even in offline scenarios, achieving "AI that never stops, even when hands and minds do" — simultaneously boosting performance and energy efficiency for intelligent terminals.
Unisound Earns Three "Internationally Leading" Certifications
Leading in medical large models, on-device AI, and digital humans
Recently, the scientific and technological achievement appraisal meeting for "Multimodal Digital Expert Key Technologies and Industrial Applications," organized by the Chinese Association for Artificial Intelligence, was held in Beijing. Following rigorous expert review, three technical achievements by Qiming Venture Partners portfolio company Unisound (09678.HK) — "multimodal medical vertical large model," "on-device small model refinement on chip," and "multimodal emotionally intelligent digital human" — were all rated at the "internationally leading" level.
The appraisal meeting assembled top expert talent in artificial intelligence. The appraisal committee was chaired by Liu Chenglin, Deputy Director of the Chinese Academy of Sciences Institute of Automation and Vice President of the Chinese Association for Artificial Intelligence, with Tao Mei, Foreign Member of the Canadian Academy of Engineering, serving as Vice Chair, alongside six other authoritative domain experts. The expert panel reviewed technical reports, observed live demonstrations, examined testing documentation, and engaged in multiple rounds of in-depth questioning and deliberation before forming their appraisal opinions. The entire review process was rigorous and standardized, fully reflecting the authority and credibility of the certification.
In the field of technological innovation, four tiers — "internationally leading," "internationally advanced," "domestically leading," and "domestically advanced" — serve as core benchmarks for assessing the technical level of scientific achievements. "Internationally leading," as the highest rating, signifies breakthrough innovation in a global context, the ability to fill international technical gaps, and significantly superior performance across core technical indicators, actual capabilities, and application effects compared to international counterparts. Unisound's simultaneous attainment of this top-tier certification for three technologies represents not only high recognition of the company's sustained R&D investment and innovation capabilities, but also marks important breakthroughs in the field of artificial intelligence.
Axera AX8850 Powers M.2 YOLO Vision 2025, Showcasing AI Hardware Strength
Recently, YOLO Vision 2025 — a premier global event in computer vision — made its Asian debut in Shenzhen. Qiming Venture Partners portfolio company Axera partnered with M5Stack to showcase efficient edge-side deployment of the Ultralytics YOLO11 high-precision model, powered by the AX8850 on an M.2 2242 standard interface compute card paired with Raspberry Pi 5. The demonstration drew significant attention for its high performance and low power consumption in edge AI computing.
The "Aixin Yuanxi" AX8850 AI chip from Axera's edge computing division served as the core driver of this showcase. Its heterogeneous multi-core architecture and ultra-high energy efficiency ratio deliver powerful AI compute support for edge devices. Based on the AX8850, Axera introduced the M.2 2242 standard interface compute card — M5Stack's LLM-8850 Card — featuring <100ms response latency and <8W power consumption. With a "plug-and-play" approach, it provides efficient compute expansion for existing devices, combining compact size, strong performance, low power consumption, and high intelligence-to-cost ratio. This enables small embedded devices to smoothly run high-precision YOLO models, handling object detection, instance segmentation, pose estimation, and rotated bounding box detection with ease.
Hesai Technology Debuts at CeMAT 2025
3D LiDAR Elevates SIASUN Robot Perception
Recently, Qiming Venture Partners portfolio company Hesai Technology (NASDAQ: HSAI, 02525.HK) made a prominent appearance at CeMAT ASIA 2025, the Asian International Logistics Technology and Transportation Systems Exhibition, bringing its star product — the miniaturized ultra-hemispherical 3D LiDAR JT128. Hesai also joined partner SIASUN Robot to demonstrate how 3D LiDAR technology empowers intelligent logistics perception, drawing deep interest from professional audiences at home and abroad.
As a benchmark exhibition for Asia's logistics, warehousing, and transportation industry, CeMAT ASIA has cultivated the logistics market for over two decades, consistently leading global logistics technology innovation. At the show, the SIASUN forklift mobile robot equipped with Hesai's JT128 became the center of attention, vividly demonstrating how Hesai's 3D LiDAR helps robots break through 2D perception limitations to achieve integrated navigation, obstacle avoidance, and recognition — easily tackling challenges in complex warehousing and logistics scenarios while helping enterprises improve material handling efficiency and management.
Gan & Lee Pharmaceuticals Showcases Core Achievements at CPHI Worldwide 2025
Recently, CPHI Worldwide 2025, the annual centerpiece event of the global pharmaceutical industry, opened at Messe Frankfurt in Germany. Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH) once again presented its core achievements, joining over 2,400 exhibitors from 166 countries and more than 62,000 pharmaceutical professionals at this industry gathering. Gan & Lee's booth featured the theme "Precision · Innovation · Global Access," with an ink-wash landscape design creating a space that balanced functionality and visual artistry.
During the exhibition, the Gan & Lee team focused on the company's independently innovated pipeline products — the once-weekly insulin GZR4 injection and the GLP-1RA biweekly formulation bofanglutide (GZR18) injection — presenting the latest clinical trial data to visiting professionals, attendees, and clients. The empirical results demonstrated the company's technical accumulation and strategic depth in metabolic therapy. Addressing differentiated needs in emerging markets, Gan & Lee proposed a "tailored to local conditions" customized cooperation model and reached preliminary cooperation intentions with multiple potential partners, laying a solid foundation for advancing its globalization strategy. Since launching its international expansion in 2005, Gan & Lee has achieved commercial sales in 20 countries, continuously improving global access to diabetes medications.
07/
Gan & Lee Pharmaceuticals Partners with Brazilian Partner BIOMM
at the 25th Brazilian Diabetes Congress
Recently, Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH) joined forces with Brazilian partner BIOMM to appear at the 25th Brazilian Diabetes Congress (XXV Congresso da Sociedade Brasileira de Diabetes 2025). Hosted by the Brazilian Diabetes Society (Sociedade Brasileira de Diabetes, SBD), the congress gathered top experts, medical practitioners, and researchers in diabetes from Brazil, Europe, and the United States — serving as an important international platform for showcasing cutting-edge achievements and exploring new prevention and treatment trends.
At this Brazilian diabetes exhibition, Gan & Lee and BIOMM jointly created an immersive booth integrating product display with interactive experiences for the first time. The Gan & Lee team engaged in in-depth exchanges with attending medical professionals around product characteristics and clinical medication experience, with particular emphasis on sharing the significant advantages of insulin glargine in blood glucose management.
To enhance interactive engagement, both parties leveraged their respective operational experience in insulin therapy to co-create the themed interactive game "GLARGILIN® RUN." Designed around "immersive experience," the game vividly demonstrated how different insulin treatment regimens affect blood glucose fluctuations — after using human insulin, the game character's blood glucose levels fluctuated significantly; after using GLARGILIN® insulin glargine, the glucose curve became more stable with longer duration. This interactive game transformed complex medical principles into accessible, intuitive experiences, precisely presenting the product advantages of insulin glargine while conveying concepts of healthy diet and scientific medication.
08/
Yunji Technology Joins Hong Kong Trade Delegation
Signs Strategic Cooperation Agreement with Saudi Arabian Enterprise
Recently, Qiming Venture Partners portfolio company Yunji Technology (02670.HK), as a member of the Hong Kong trade delegation, visited Saudi Arabia led by Financial Secretary Paul Chan. Witnessed by the Hong Kong Financial Secretary's office and the Saudi Tourism Authority, Yunji signed a strategic cooperation framework agreement with a leading local Saudi enterprise to jointly advance the intelligent upgrading of local cultural tourism and hospitality services.
During the visit, Yunji Technology also actively participated in the 9th Future Investment Initiative (FII), engaging in in-depth exchanges with multiple investment institutions and ecosystem partners to actively explore cooperation opportunities. This not only reflects the company's strategic vision of using Hong Kong as a "bridgehead" with a global outlook, but also further strengthens its resolve to expand high-quality overseas business.
As China-Middle East cooperation continues to deepen, Yunji Technology will continue to cultivate local cultural tourism and hotel scenarios, strengthen partnerships, and provide Middle Eastern customers with products and services better tailored to their needs amid the global wave of embodied AI technology adoption.
Corporate Honors
01/
StepFun Receives OPPO 2025 Annual AI Partner Award
Recently, OPPO held its 2025 Developer Conference (ODC25) in Shenzhen, where it unveiled the new ColorOS 16 and introduced a refreshed strategic vision for OPPO AI built on "new computing, new perception, new ecosystem." StepFun received the OPPO 2025 "Annual AI Partner" award, marking its second consecutive year winning a major OPPO ecosystem partnership honor.
Since last year, StepFun has leveraged its leading multimodal large model capabilities to work with OPPO in crafting new AI phone experiences for users. For example, with "one-tap screen query," users simply take a photo and the Breeno assistant can accurately recognize and understand the information contained in the image, enabling intelligent visual search and reasoning Q&A. It can also help assemble furniture by reading instruction manuals, or calculate the calorie count of an afternoon tea spread from a photo.
Additionally, StepFun's multimodal image search capabilities have helped Breeno develop an AI real-world conversation feature. Powered by this capability, AI can see the world in front of users as if physically present, fully grasping situations from rich information dimensions including text, voice, and images to better help users solve problems. For instance, when a home appliance malfunctions, simply point the camera at the device and the AI can analyze the problem and find a solution.
Meanwhile, StepFun has built a GUI solution for Breeno based on Agent technology. Breeno can smoothly execute search tasks across various apps for users, searching multiple apps with one tap and aggregating information to make information retrieval easier.
02/
Two Qiming Venture Partners Portfolio Companies Win 2025 Gasgoo 7th Golden Edit Awards
Recently, the 2025 7th "Golden Edit Awards" ceremony hosted by Gasgoo concluded successfully in Shanghai. For this year's "Golden Edit Awards" Top 100 New Automotive Supply Chain Awards, the jury evaluated candidates across five dimensions: innovation advancement, technical feasibility, economic applicability, market recognition, and user experience, selecting 100 outstanding companies and technologies. Qiming Venture Partners portfolio companies Hesai Technology and Ailbaba were named to the list.
The core value of the "Top 100 New Supply Chain" lies in recognizing benchmark enterprises that have made the leap from "supporting supplier" to "technology co-creator." Their value is reflected not only in breakthroughs in individual technologies, but in their "cluster effect" of building industrial ecosystems and empowering vehicle advancement. During this industry acceleration phase where "fast fish eat slow fish," these top 100 companies have become indispensable supporting forces propelling China's auto industry from "single breakthroughs" toward "systemic leadership" and from "manufacturing powerhouse" to "technology powerhouse" — thanks to their rapid response capabilities and scene adaptability — collectively forging the confidence and resilience with which China's automotive industry confronts global competition.
Past Issues
Qiming Weekly | Qiming Venture Partners Portfolio Company Funding and Updates Vol. 36, 2025
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 Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 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. Over 80 companies have become recognized unicorns or super-unicorns in their industries.
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), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.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), Berry Genomics (000710.SZ), SinoCellTech (688520.SH), Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu AI, StepFun, Biren Technology, and others.