Qiming Weekly | Qiming Venture Partners Portfolio News and Updates Vol. 40, 2025
Celebrating milestone moments with Qiming Venture Partners' portfolio companies
Editor's Note: The "Qiming Weekly" column is published 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/
Yangli Pharma Closes Hundreds-of-Millions RMB Series B Round
Qiming Venture Partners Sole Investor
Recently, innovative drug R&D company Zhejiang Yangli Pharma Technology Co., Ltd. ("Yangli Pharma") announced the completion of a hundreds-of-millions RMB Series B financing round, with Qiming Venture Partners as the sole investor. The company's existing shareholders also include TF Capital, Hangzhou Capital, and Runzhang Ventures. Proceeds from this round will be used to advance multiple clinical programs.
Founded in 2021 and based in Hangzhou, Yangli Pharma focuses on developing first-in-class and best-in-class Class 1 innovative drugs with global intellectual property rights, targeting oncology and chronic disease therapies. Multiple products have entered Phase I and Phase II clinical trials, with a mission rooted in China and benchmarked against international standards.
Dr. Zhaozhong Ding, Co-founder and Chairman of Yangli Pharma, said: "We thank all our investors for their consistent trust and support. Since our founding, the company has focused on unmet clinical needs and differentiated products from the source, following our R&D philosophy of 'In China, For Global.' Leveraging our advantages in small-molecule and small-nucleic-acid technology platforms, we have built pipelines in oncology and chronic diseases. The successful completion of this round fully reflects investors' high recognition of our pipeline's clinical competitiveness and market potential. This financing paves the way for our oncology products to enter registrational clinical trials and for our chronic disease products to obtain clinical validation. It marks Yangli Pharma's entry into a rapid development phase, bringing us one step closer to commercializing innovative drugs. We are committed to enhancing value for our investors and bringing wellbeing to patients' health as our goals and mission."
Kan Chen, Partner at Qiming Venture Partners and Co-Head of Healthcare Innovation, said: "With forward-looking target selection and an efficient compound optimization platform, Yangli Pharma has built differentiated innovation from the source, developing a series of candidate molecules with high activity, high specificity, and excellent safety profiles. We believe that, driven by the company's strong clinical development capabilities, these molecules will rapidly advance from pipeline to market, unlocking their tremendous clinical value and market potential to ultimately meet the urgent clinical needs of patients worldwide."
02/
Weitao Bio Completes Angel Round Exceeding RMB 100 Million
Led by Qiming Venture Partners
Recently, Weitao Bio (Weitao Bio), a global innovator in in vivo cell therapy, announced the completion of an angel round exceeding RMB 100 million. The round was led by Qiming Venture Partners, a leading global venture capital firm. Proceeds will primarily be used for iterative optimization of core technology platforms and clinical translation and development of the company's first candidate product in autoimmune diseases.
Founded on June 25, 2025, Weitao Bio was spun off from the in vivo CAR-T platform of Beijing Gracell Biotechnologies Co., Ltd. Based on a targeted LNP delivery system, Weitao Bio's in vivo CAR-T therapy focuses on bringing transformative treatments to hematological malignancies and autoimmune diseases. It enables direct CAR expression within patient T cells, eliminating the need for cell isolation, expansion, and lymphodepletion preconditioning required by traditional autologous CAR-T therapy. This fundamentally addresses the three core pain points of autologous CAR-T — "high cost, long cycle, and high toxicity" — potentially compressing treatment timelines and enabling cell therapy's evolution toward off-the-shelf drugs, substantially improving patient access.
As the lead investor in this round, Qiming Venture Partners has long been deeply engaged in healthcare innovation, with particular focus on frontier technologies including cell therapy and gene delivery. Kan Chen, Partner at Qiming Venture Partners and Co-Head of Healthcare Innovation, said: "Weitao Bio's technical solution addresses the challenges of conventional CAR-T therapy. Its targeted LNP delivery platform demonstrates globally leading potential in targeting efficiency, safety, and manufacturing compatibility. We are optimistic about Dr. Yarong Liu's team's industrialization experience in cell therapy and Gracell Bio's FTE model as a safeguard for R&D efficiency. We will leverage our global industrial resources to help Weitao Bio accelerate clinical advancement and international collaboration, enabling Chinese innovative drugs to gain a foothold globally."
Dr. Yarong Liu, Founder and CEO of Weitao Bio, said: "We thank Qiming Venture Partners and all investors for their trust. As long-time practitioners in China's cell therapy field, our team remains committed to using technological innovation to address unmet clinical needs. Weitao Bio's in vivo CAR-T solution represents an important step toward making cell therapy 'off-the-shelf' and 'accessible.' This financing will accelerate clinical validation of Weitao Bio and its in vivo CAR-T pipeline. Going forward, we will continue to uphold our philosophy of 'insight-driven demand, independent innovation,' striving to bring more innovative treatments to patients."
03/
Aureka Biotechnologies Completes Tens-of-Millions USD Series A
Accelerating Intelligent Antibody Design and Innovative Pipeline R&D
Recently, Aureka Biotechnologies (Aureka), a biotechnology company focused on generative antibody drug development, announced the completion of a tens-of-millions USD Series A financing round, co-led by Qiming Venture Partners. Proceeds will be used to advance innovative pipelines into critical clinical stages, accelerate development of a wet-dry closed-loop antibody design agent platform, and expand deep collaboration with global biopharmaceutical companies.
Aureka Biotechnologies builds autonomously evolving antibody design agents, combining high-throughput single-cell functional screening and an intracellular yeast automated directed evolution platform to fundamentally transform the paradigm of functional data generation. This creates a high-throughput, high-content experimental data flywheel for the agent, forming differentiated antibody discovery and optimization capabilities to efficiently develop First-in-Class and Best-in-Class antibody drug pipelines.
Dr. Weian Zhao, Founder and CEO of Aureka Biotechnologies, said: "We believe antibody drugs are not merely 'discovered' — they can be designed. Truly unleashing the potential of autonomous agents lies not in auxiliary analysis, but in enabling them to participate in decision-making, drive design, and guide experiments, achieving iterative closed loops through high-throughput experimental platforms. What we aim to build is not just an algorithmic model, but a continuously evolving world model of antibody design with active creativity."
William Hu, Managing Partner at Qiming Venture Partners, said: "Through closed-loop innovation of data and experimentation, Aureka Biotechnologies has built an efficient, scalable drug discovery system. The team combines scientific and industrial experience, providing a new path for accelerating and reducing costs in future macromolecule R&D. We hope Aureka Biotechnologies will continue to deepen its technology and develop new infrastructure for the future biopharmaceutical industry."
04/
Xiyuan Anjian Announces Completion of Series A Round Exceeding RMB 200 Million
Accelerating Core Pipeline Progress and Global Expansion
Recently, Xiyuan Anjian (Xiyuan Anjian) Pharmaceutical (Beijing) Co., Ltd. ("Xiyuan Anjian"), a drug R&D company focused on developing innovative therapeutics in pain management, officially announced the completion of a Series A round exceeding RMB 200 million, with continued investment from Qiming Venture Partners. Proceeds from this round will focus on the pivotal Phase III clinical study of BR005, China's first self-developed CGRP-targeting small-molecule drug, and support continued expansion of more innovative R&D pipelines in pain management.
Xiyuan Anjian is a clinical-stage biopharmaceutical company dedicated to developing innovative, highly specific analgesic therapies for severe chronic pain conditions, with particular focus on addressing long-unmet clinical needs in craniofacial pain, neuropathic pain, and musculoskeletal pain. The company's vision is to provide safe, effective, and convenient pain management solutions for the vast number of patients worldwide suffering from chronic pain.
Dr. Guochun Li, Founder and CEO of Xiyuan Anjian, said: "We are grateful to our new and existing investors for their deep confidence and strong support. The success of this financing round is a milestone for us. It will further ensure the continued clinical advancement and commercialization of our core pipeline, enabling innovative drugs to reach the market quickly and benefit patients in urgent need. At the same time, ample funding will also give us the capacity to accelerate development of additional innovative drug pipelines, particularly in new pain mechanisms and target areas, to build a deeper and broader product moat. This capital will also help the company accelerate its international expansion and establish deep partnerships with global pharmaceutical companies, becoming a leader in innovative pain drug R&D worldwide."
Dr. Kan Chen, Partner at Qiming Venture Partners and Co-Head of Healthcare Innovation, said: "We remain firmly optimistic about the tremendous market potential in pain treatment and the breakthrough opportunities for innovative drugs. The company's recent positive progress not only reaffirms Xiyuan Anjian's efficient execution capabilities, but further demonstrates its strength in innovative global expansion. Qiming Venture Partners will continue to support the company's deep development in pain treatment and remains bullish on its future prospects. We look forward to the company continuing to deepen its R&D and bring more breakthrough progress."
05/
Dexmal (Yuanli Lingji) Completes Nearly RMB 1 Billion in Financing
Accelerating Embodied Artificial Intelligence Technology Innovation
Recently, Embodied Artificial Intelligence company Dexmal (Yuanli Lingji) **announced the completion of two consecutive funding rounds totaling nearly RMB 1 billion, including a Series A+ round of several hundred million yuan and a Series A round, with Qiming Venture Partners continuing to follow on in the Series A. Proceeds will be used primarily for software and hardware technology R&D and commercialization of Embodied Artificial Intelligence robots.
Founded in March 2025, Dexmal (Yuanli Lingji) is an innovative company focused on Embodied Artificial Intelligence software and hardware technology R&D and commercialization. Its core team combines top-tier AI academic backgrounds with over ten years of experience in scaling AI-native products, with deep expertise across algorithm R&D, hardware development, data management, engineering innovation, and scenario deployment, as well as the industry-scarce composite DNA of "algorithms + hardware + scenarios."
Notably, the Dexmal (Yuanli Lingji) team has also accumulated substantial hands-on experience in AI logistics robots. Leveraging its strengths in intelligent logistics robot technology and flexible warehouse automation products, the company has driven intelligent upgrading in the logistics industry while establishing first-mover advantages in software, hardware, and products for its development in Embodied Artificial Intelligence.
Building on these strengths, Dexmal (Yuanli Lingji) has independently developed the end-to-end multimodal Embodied Artificial Intelligence large model MMLA, which achieves cross-scenario, cross-task, and cross-configuration intelligent generalization through deep integration of multi-sensor capabilities with the underlying abilities of large language models (LLM), vision-language models (VLM), vision-language-action models (VLA), and world models.
06/
TandemAI Secures $22 Million Series A Extension
Accelerating AI-Driven Drug Innovation
Recently, Qiming Venture Partners portfolio company TandemAI announced the completion of a $22 million Series A extension to expand its globally leading drug discovery platform, which integrates cutting-edge AI and physics-based computational technologies with complete and efficient wet-lab capabilities. Qiming Venture Partners continued to invest. Since its founding in 2022, TandemAI has raised over $80 million in total funding.
Since its founding, TandemAI has assembled a professional team of over 300 people. Leveraging its AI-driven integrated end-to-end drug discovery engine, the company has delivered more than ten high-value, highly differentiated drug candidates, with related projects already in or approaching clinical development stages. The company has also established partnerships with four of the world's top ten multinational pharmaceutical companies, building an ecosystem network covering over 150 global partners and clients.
TandemAI Co-founder and CEO Qi He said: "This funding round is tremendous validation of TandemAI's current achievements and strategic direction. The capital will be used to advance AI and physics model iterations for small molecule, peptide, and other drug R&D, while upgrading wet-lab capacity to meet rapidly growing client demand." He noted that the strategic merger with Perpetual Medicines also brought in experienced drug development experts Kerry Blanchard, M.D., Ph.D. and Ved Srivastava, Ph.D., further strengthening TandemAI's end-to-end drug discovery and development expertise.
07/
Cornerstone Robotics Completes New Round of Approximately $200 Million Oversubscribed Financing
Recently, Qiming Venture Partners portfolio company and representative Chinese innovative surgical robotics enterprise Cornerstone Robotics announced the completion of a new round of approximately $200 million in oversubscribed financing. Qiming Venture Partners continued its support. Proceeds will be used primarily to accelerate commercialization in China and overseas, and to drive next-generation product R&D and clinical registration.
Since its founding in 2019, Cornerstone Robotics has consistently adhered to its vision of "leading medical innovation, caring for global health." Through full-stack self-development and deep integration, it has grown into a unicorn enterprise among Chinese innovative surgical robotics companies. The company's core product, the Sentire® laparoscopic surgical robot, has not only received approval from the National Medical Products Administration (NMPA) for market launch, but has also been deployed for clinical use at top hospitals in mainland China, Hong Kong, and Europe. The company continues to translate its independent innovative technological achievements into a driving force for the development of the global smart healthcare ecosystem, deepening its presence in clinical training, technology demonstration, and academic exchange through partnerships with top international medical and educational institutions, empowering global healthcare accessibility to reach new stages.
Professor Guowei Ou, Founder and CEO of Cornerstone Robotics, said: "2025 is an important milestone in Cornerstone Robotics' development journey. We thank our new and existing shareholders for their trust and support — this is not only recognition of the company's innovative achievements in practical application, but also a strong vote of confidence in Cornerstone Robotics' long-term high-quality development. Of particular importance, the support from Hong Kong Investment Management Corporation Limited demonstrates the government's full support and forward-looking commitment to investing in technology innovation enterprises, and lays a solid foundation for our upcoming commercialization and global expansion. Going forward, we will continue to adhere to innovation-driven development, deepen our global presence, and enable high-quality, affordable surgical robot products to benefit people in need around the world."
Corporate ESG
Gan & Lee Pharmaceuticals Launches World Diabetes Day Global Public Welfare Initiative
On World Diabetes Day, Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH), together with its overseas subsidiaries and global partners, actively responded to the International Diabetes Federation (IDF)'s core theme of "Diabetes & Well-being," using "well-being stems from health" as a warm connection to launch a cross-border online and offline health public welfare initiative, enabling more people to pay attention to and understand the diabetes community.
As a fellow traveler in diabetes treatment, Gan & Lee Pharmaceuticals precisely focuses on the health pain points of today's working population. At the Beijing main event venue, Gan & Lee Pharmaceuticals carefully crafted six interactive zones, accompanying participants through every step of health management from awareness to practice to daily reinforcement.
At the same time, Gan & Lee Pharmaceuticals actively coordinated with overseas teams and global partners to launch a workplace health-focused "exercise check-in" campaign. Offline, employees across various locations actively participated in exercise check-ins and fun health interactions during work breaks, integrating health concepts into daily work; online, a global challenge across time zones was launched on social media platforms, breaking geographical and national boundaries, connecting people from different countries and cultural backgrounds through a shared belief — "Fight sugar in the workplace, starting now."
Major Partnerships
01/
Robotaxi GXR Hits the Road in Singapore
WeRide and Grab Launch Singapore's First Autonomous Vehicle Test
Recently, Qiming Venture Partners portfolio company and global autonomous driving technology leader WeRide (NASDAQ: WRD, 00800.HK) and Southeast Asian super-app Grab (NASDAQ: GRAB) announced that Singapore's Land Transport Authority (LTA) has officially approved autonomous driving tests for their Ai.R (Autonomously Intelligent Ride) fleet in the Punggol district.
WeRide and Grab launched Singapore's first Robotaxi GXR test in Punggol in mid-October 2025. With this approval, both parties will accelerate local autonomous driving test plans, with a goal of quadrupling test runs on Punggol shuttle routes by the end of 2025.
The Ai.R project, operated by WeRide in partnership with Grab, is a public-facing autonomous mobility service. The Ai.R fleet comprises 11 WeRide autonomous vehicles — 10 Robotaxi GXR units seating five passengers each, and one Robobus seating eight passengers. The current autonomous driving tests represent a critical preparatory phase before the Ai.R project's official launch. The Ai.R autonomous mobility service will cover two dedicated shuttle routes in the Punggol area, with the first public passengers expected in early 2026, making Punggol Singapore's first residential district to offer autonomous shuttle services.
02/
Hesai Technology LiDAR Powers the New EXEED ET5 Luxury Intelligent Electric Mid-Size SUV as Pre-Sales Begin
EXEED's much-anticipated ET5 has officially opened for pre-sales. Positioned as a "new luxury intelligent electric mid-size SUV," the model is available in two variants: the 210 Comfort Edition and the 210 LiDAR Premium Edition equipped with Qiming Venture Partners portfolio company Hesai Technology (NASDAQ: HSAI, 02525.HK) LiDAR, with official pre-sale prices of RMB 159,900 and RMB 174,900 respectively.
As the automotive industry advances toward intelligentization, an excellent new energy vehicle's intelligent assisted driving system should be more than just a "crown jewel" for automakers to showcase technical prowess — it should be the most trustworthy "companion" and "partner" for drivers on the road. With this philosophy in mind, the EXEED ET5 integrates the Falcon 700 system built on Horizon Robotics' HSD urban assisted driving platform, featuring the global debut of the Journey 6P chip with class-leading 560 TOPS computing power. Built on a one-stage end-to-end architecture and paired with 27 high-precision sensors including one Hesai LiDAR unit, it delivers the industry's first one-stage end-to-end human-like driving capability.
The launch of the EXEED ET5 reflects the brand's deep understanding of the new energy market and user needs. Going forward, Hesai Technology will continue to deepen its collaboration with Chery Automobile's EXEED brand, upholding the principle that "safety is the ultimate luxury" and continuously supporting the ET5 in reshaping the value benchmark for the mid-size SUV market.
03/
Hesai Technology Secures Exclusive LiDAR Designation for Li Auto's Next-Generation Assisted Driving Platform Across All Models
Recently, Qiming Venture Partners portfolio company and global LiDAR leader Hesai Technology (NASDAQ: HSAI, 02525.HK) officially announced that it has received the LiDAR designation for Li Auto's next-generation assisted driving platform across all models, including the L Series, i Series, and MEGA. Hesai Technology will continue as Li Auto's exclusive LiDAR supplier, providing advanced perception technology support.
Hesai Technology has recently received two consecutive supply chain honors from Li Auto. At Li Auto's 2025 Global Partners Conference, Hesai was awarded the "Technology Contribution Award," with Hesai co-founder and CEO David Li invited to attend the event and accept the honor. Earlier, at Li Auto's annual strategic supplier recognition ceremony, Hesai Technology also received the "2025 Strategic Partner" honor from Li Auto.
04/
Bayer × Tianmu Technology Strategic Partnership
AI Protein Design Powers Health Consumer Goods Innovation
Recently, Bayer Consumer Health and Qiming Venture Partners portfolio company Tianmu Technology signed a strategic cooperation agreement at the 8th China International Import Expo, announcing that both parties will further deepen collaboration in AI technology for scientific research, new product development, and application transformation in Bayer's consumer health segment. They will continue exploring applications of intelligent protein molecular design and bio-manufacturing innovation in digestive and skin health, jointly advancing the development of artificial intelligence in personalized health management and self-care.
Yong He, General Manager of Bayer Consumer Health China, stated: "AI is a transformative force reshaping the health industry. Bayer Consumer Health will continue to increase investment and exploration in AI + life sciences, focusing on intelligent R&D and consumer health management, expanding the boundaries of AI applications in health consumer goods, and jointly driving the intelligent and precise transformation of the health consumer industry."
Professor Liang Hong, Chief Scientist of Tianmu Technology and Distinguished Professor at Shanghai Jiao Tong University, stated: "We will fully leverage Tianmu Technology's technical advantages in artificial intelligence, synthetic biology, and biomedicine, combined with Bayer's deep insights and industrialization capabilities in life sciences, to jointly explore new pathways in intelligent R&D, develop more high-quality and innovative health products, and contribute wisdom to advancing the health industry."
05/
Insilico Medicine and Eli Lilly and Company Reach AI-Driven Drug Discovery Collaboration
Total Value Exceeds $100 Million
Recently, Qiming Venture Partners portfolio company and global leading generative AI-driven biopharmaceutical technology company Insilico Medicine announced a drug discovery strategic partnership with global top-tier multinational pharmaceutical company Eli Lilly and Company. Both parties will fully leverage the cutting-edge technical advantages of Insilico Medicine's self-developed AI drug discovery platform Pharma.AI, combined with Eli Lilly's deep expertise in drug development and disease research, to jointly accelerate the discovery and development of innovative therapies.
Under the agreement, Insilico Medicine will leverage its extensively validated Pharma.AI platform and professional drug R&D capabilities to generate, design, and optimize candidate compounds for agreed-upon innovative targets. Insilico Medicine is entitled to receive over $100 million in total proceeds from this collaboration, including upfront payments, R&D milestone payments, and tiered net sales royalties following future commercialization. This collaboration marks a further upgrade of the partnership between the two parties. As early as 2023, Insilico Medicine and Eli Lilly had already established a software licensing collaboration based on the AI platform, laying a solid foundation for this strategic partnership.
Dr. Alex Zhavoronkov, Founder and Co-CEO of Insilico Medicine, stated: "We are deeply honored to engage in this close collaboration with Eli Lilly, a global leader in the pharmaceutical industry. Eli Lilly's outstanding performance in innovation and R&D is truly admirable, and the company is also an important partner for our self-developed AI drug discovery platform Pharma.AI. This drug discovery collaboration not only reflects our partner's high recognition of Insilico Medicine's AI-driven drug discovery capabilities, but also further solidifies our long-term partnership. We look forward to working together to accelerate the development of innovative therapies and better meet the urgent needs of patients worldwide."
R&D Progress
Gan & Lee Pharmaceuticals' Changxiulin® Poised for First European Market Entry
Achieving a New Breakthrough for Chinese Biopharmaceutical Global Expansion
Recently, Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH) and its European subsidiary Gan & Lee Pharmaceuticals Europe GmbH (hereinafter referred to as "Gan & Lee Europe") announced that the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending approval of insulin glargine injection (EU trade name: Ondibta®) as a biosimilar to Lantus® SoloStar®1 for the treatment of diabetes in adults, adolescents, and children aged 2 years and older. The European Commission (EC) will review the CHMP's positive opinion, and if approved, Ondibta® will be launched in the European Union (EU), Iceland, Liechtenstein, and Norway.
Dr. Yufei Yuan, Executive Vice President and CTO of Gan & Lee Pharmaceuticals, stated: "The CHMP positive opinion for Gan & Lee Pharmaceuticals' self-developed insulin glargine injection — the first domestically produced insulin biosimilar — marks our successful entry into the EU market.
This is a significant milestone in Gan & Lee Pharmaceuticals' internationalization journey. We are about to bring this high-quality product, recognized by the EMA as highly equivalent and consistent with the originator, to the European market, demonstrating that our product development capabilities and quality management system have fully aligned with world-class international standards.
This year marks the 20th anniversary of insulin glargine (*Changxiulin®*2), and the CHMP's recognition is undoubtedly the best tribute to our long-term dedication. The European Union is just the beginning; the world is our stage. We look forward to bringing more innovative achievements from Gan & Lee Pharmaceuticals to the global market, so that Chinese 'smart' manufacturing can benefit patients worldwide."
Product Launches
01/
DeepWise Releases Full-Process Intelligent System for Electrolyte Discovery
Recently, the "Intelligence Driving the Future of Batteries" thematic event — part of the World Power Battery Conference series — was held in Yibin. Qiming Venture Partners portfolio company DeepWise unveiled an autonomous electrolyte discovery intelligent system based on the Bohr Research Space Station and Uni-Lab. The system deeply integrates the AI for Science concept, application scenarios, and advanced technologies, connecting the entire R&D chain to drive a comprehensive transformation of electrolyte R&D from traditional "trial-and-error" to "AI-empowered" approaches, providing core solutions for the industry to overcome R&D challenges and break through development bottlenecks.
In the NCM811/lithium metal battery electrolyte R&D case, the intelligent system has already demonstrated significant application value: dramatically shortened R&D cycles, completing the full process from formulation design to performance verification in just 3 months — a target that would take six months under traditional models — with R&D efficiency improved by 10x; substantially enhanced performance, with the newly developed electrolyte achieving 450 cycles, a 50% improvement over the industry benchmark of 300 cycles, meeting the long-cycle performance demands of high-capacity batteries; and a 90% reduction in development costs by eliminating ineffective experimental trial-and-error, achieving the "cost reduction and efficiency improvement" R&D goal and providing support for enterprises to enhance market competitiveness.
02/
Insta360 Launches Ace Pro 2 Imaging Master Bundle
Recently, Qiming Venture Partners portfolio company Insta360 (688775.SH) released its flagship action camera Ace Pro 2 Imaging Master Bundle. The bundle combines a professional street photography grip with cinema-grade lenses, a pocket printer, and other diverse accessories, delivering an upgraded experience from street documentation to creative play. The launch of this new bundle represents not only Insta360's deep response to users' diverse shooting needs, but also a further expansion of the functional boundaries and creative possibilities of action cameras.
The Imaging Master Bundle offers three set options: "Imaging Master Bundle Limited Edition," "Play & Shoot Bundle," and "Imaging Master Bundle Ultimate Edition." All are centered around the Insta360 Ace Pro 2 as the core device, paired with a professional street photography grip and screen sunshade, with differentiated configurations built on this foundation: the Imaging Master Bundle additionally includes a cinema widescreen lens and black soft filter, with expandable accessories such as an adjustable macro lens, ultra-wide-angle lens, and starlight filter available, constructing a comprehensive, professional creative equipment matrix; the Play & Shoot Bundle pairs with the first pocket printer designed for action cameras, enabling "shoot and print" functionality to quickly capture every precious moment.
03/
Benewake Technology Unveils High-Throughput Automated Liquid Handling Module
From high-throughput drug screening in biopharmaceutical R&D and batch sample testing in clinical diagnostics, to genomic research in university laboratories and epidemic monitoring in disease control, to batch sample analysis in agricultural and environmental testing — high-throughput liquid handling demands now span core scenarios across multiple industries, requiring batch processing of 96 or even 384 samples.
However, traditional manual pipetting struggles to keep pace with efficient experimental workflows, and even more so to ensure precision and consistency in batch operations, while also generating human error that severely constrains experimental progress and result reliability.
To address this, Qiming Venture Partners portfolio company Benewake Technology has newly launched a 96-channel pipetting module. Designed specifically for high-throughput automated liquid handling needs in laboratories, this module combines flexibility, precision, and efficiency advantages. As a core component of pipetting robots, it is compatible with the LabGenius G series pipetting robots and the LabMate laboratory assistant Gleam/Horizon/Beacon product series, comprehensively meeting high-throughput, high-consistency application demands in laboratories.
The 96-channel pipetting module can be widely applied in cell culture, reagent aliquoting, nucleic acid extraction, clinical sample testing, drug screening, and other experimental scenarios, providing core support for building automated workflows in life science research, clinical diagnostics, and drug development, helping researchers break through efficiency and precision bottlenecks.
Technological Strength
01/
WeRide Secures World's First City-Level Fully Driverless Robotaxi Operating License Outside the United States
Recently, Qiming Venture Partners portfolio company and global leading autonomous driving technology company WeRide (NASDAQ: WRD, 00800.HK) announced it has officially received approval from the UAE federal government to conduct fully driverless Robotaxi commercial operations in Abu Dhabi. This is the world's first city-level L4 autonomous driving commercial license outside the United States, marking a new phase for WeRide's fully driverless Robotaxi operations in the Middle East.
According to the license authorization approved on October 31, WeRide can conduct Robotaxi commercial operations without an onboard safety attendant. Services will initially launch on the Uber and TXAI platforms in Abu Dhabi, with more operational details to be announced soon.
This permit was specially approved by the Regulations Lab under the UAE Cabinet Secretariat, the agency responsible for evaluating innovative projects that drive future economic development. As early as July 2023, WeRide obtained the UAE's first autonomous driving road test license, permitting testing and operations on public roads nationwide subject to meeting the regulatory requirements of each emirate — the first national-level, full-domain, full-vehicle-type autonomous driving road test license in the Middle East and globally. WeRide's twice receiving the UAE's highest-level autonomous driving licenses fully demonstrates the UAE Cabinet's high trust in the company's autonomous driving technology capabilities, trust built through long-term rigorous evaluation and ongoing supervision.
02/
Monthly Deliveries Exceed 200,000 Units
Hesai Technology's Cumulative LiDAR Deliveries Surpass 2 Million Units
Recently, Qiming Venture Partners portfolio company and global LiDAR leader Hesai Technology (NASDAQ: HSAI, 02525.HK) announced that its 2 millionth cumulative LiDAR unit officially rolled off the production line at the Hesai Maxwell Intelligent Manufacturing Center in mid-November and was delivered to customers. Hesai Technology has become the world's first LiDAR company to achieve cumulative mass production and delivery exceeding 2 million units, reaching another significant industry milestone.
Additionally, Hesai Technology had just hit its target of over 1 million cumulative units produced in a single year by late September, with both monthly output and global deliveries surpassing 200,000 units for the first time in the company's history. According to a ranking of China's in-vehicle LiDAR installation volume from January through September 2025 published by Gasgoo Automotive Research Institute, Hesai Technology maintained its number-one position in the industry for in-vehicle main LiDAR installations in September. Hesai Technology has held the top spot in China's main LiDAR market share for eight consecutive months and continues to grow rapidly, with its September market share climbing to 47%.
03/
"Greater Bay Chicken" Themed Autonomous Driving Fleet Makes Surprise Debut
WeRide Powers a Tech-Forward National Games
Recently, the 15th National Games (hereinafter referred to as "the National Games") grandly opened at the Guangdong Olympic Sports Center, where Lingnan heritage and Greater Bay Area energy converged both inside and outside the competition venues. As the official autonomous driving service provider for this year's National Games, Qiming Venture Partners portfolio company WeRide (NASDAQ: WRD, 00800.HK) implemented the event's technology standards by assembling a fleet of autonomous robotaxis (Roboaxi GXR), autonomous minibuses, and unmanned road sweepers (S1) — delivering intelligent services across transportation and event support, and leveraging the hard tech capabilities of autonomous driving to create a new paradigm for convenient, efficient, comfortable, and green sporting events.
As a leading autonomous driving company rooted in the Greater Bay Area, WeRide aligned closely with the event service positioning of "based in the Greater Bay Area, serving the Greater Bay Area," simultaneously launching autonomous driving operations in both Guangzhou and Zhuhai to enable cross-city tech empowerment for competition scenarios and help the National Games establish a benchmark for regionally coordinated smart events.
In Guangzhou, WeRide deployed nearly 100 autonomous robotaxis (Robotaxi GXR), several dozen unmanned road sweepers (S1), and partnered with Guangzhou Public Transport Group to roll out approximately 20 autonomous minibuses — comprehensively covering three core scenarios: public transit connections, private passenger transport, and urban cleaning support. Passengers could hail a Robotaxi GXR on demand for point-to-point autonomous travel, or ride with friends and family on limited-edition "Greater Bay Chicken" minibuses emblazoned with the National Games mascots "Xi Yangyang" and "Le Rongrong," experiencing the unique charm of a tech-powered National Games in a festive atmosphere. In Hengqin, WeRide partnered with Da Hengqin Technology to launch a dedicated National Games autonomous minibus line connecting "Zhuhai Hengqin Port — Zhuhai International Tennis Center," creating an efficient spectator corridor for fans from both Zhuhai and Macau.
04/
Yunji Technology's AISHOP Supermarket Intelligent Agent Debuts at New Consumption Industry Innovation Conference
Recently, the "2025 China Suzhou New Consumption Industry Innovation Conference" was successfully held at the Shishan International Conference Center, where Qiming Venture Partners portfolio company Yunji Technology (02670.HK) was invited to exhibit with its supermarket intelligent agent AISHOP.
Previously, Yunji Technology released version 1.0 of its supermarket intelligent agent, featuring five types of robots for food delivery order transport, shelf inspection, store floor cleaning, wayfinding, and warehouse handling — providing comprehensive solutions for the industry.
Unlike hotels, hospitals, and similar environments, supermarkets are high-frequency living spaces that people visit weekly or even daily. As retail products and services become increasingly homogenized, efficiency has become the core competitive battleground. And AI + Embodied Artificial Intelligence is precisely the key variable for breaking deadlocks and reshaping experiences.
The AISHOP supermarket intelligent agent efficiently handles warehouse transport. For example, when a supermarket receives an online food delivery order containing fresh produce and daily necessities, staff no longer need to rack up tens of thousands of steps gathering items across the store. Transport robots, with large capacity and ample endurance, efficiently and accurately move goods to designated areas, significantly reducing employee physical burden. Additionally, the system intelligently handles restocking and inventory. Inspection robots autonomously patrol between shelves, immediately alerting the system when they identify out-of-stock items or misplaced products. Traditional manual inventory and restocking is not only exhausting but error-prone, whereas robots can execute tirelessly — saving labor while improving shelf efficiency and sales opportunities.
05/
Zhipu AI's GLM-4.6 Ties for First Globally on LMArena Code Leaderboard
Recently, the authoritative global AI evaluation platform LMArena updated its Code Arena (programming and code generation) specialized leaderboard, which tests models on building complete web applications from scratch with stricter evaluation standards that more closely approximate real-world development. Qiming Venture Partners portfolio company Zhipu AI's GLM-4.6 tied for the top global position alongside Anthropic's Claude, OpenAI's GPT-5, and other leading models.
GLM-4.6's victory in this rigorous blind test relied on powerful Agent capabilities with excellent planning and tool-calling; top-tier coding ability, particularly strong in front-end and multi-language programming; and 200K long context, enabling effortless mastery of entire codebases.
06/
DeepWay Heavy-Duty Trucks Launched in Kuala Lumpur
Opening a New Chapter in Green Logistics for Southeast Asia
Recently, Qiming Venture Partners portfolio company DeepWay held its market launch event in Kuala Lumpur, the capital of Malaysia. DeepWay International General Manager Lin Facai, CATL Asia-Pacific Service Director Rick He, and representatives from Malaysian partners jointly witnessed the debut of DeepWay heavy-duty trucks tailored for Southeast Asian road freight scenarios, and signed a memorandum of understanding (MOU) — marking another step forward in the company's international expansion.
As cross-border logistics and e-commerce delivery demands grow, the high energy consumption and emissions of traditional diesel heavy-duty trucks have become increasingly prominent, while electric heavy-duty trucks are emerging as a new choice thanks to their low operating costs and zero emissions. The DeepWay electric heavy-duty trucks unveiled at this launch feature multiple optimizations for Southeast Asian road freight scenarios: salt-fog resistant body coatings and high-temperature-adapted battery technology to handle humid climates; right-hand drive configuration and lightweight chassis to meet cross-border transport and raw material transfer needs; and combined assisted driving systems to reduce long-haul transport risks.
07/
Infinigence AI Appears at China Pavilion of 8th CIIE
Driving China's AI Tech Innovation Through Infrastructure
Recently, Qiming Venture Partners portfolio company Infinigence AI brought two core products — the Wuqiong AI Cloud interactive experience terminal and the Wuyin edge intelligence solution — to the CIIE. The Wuqiong AI Cloud interactive experience terminal was displayed alongside over 560 other flagship exhibits at the highly anticipated China Pavilion, showcasing to the world China's AI infrastructure innovations enabled by "multi-heterogeneous, software-hardware collaborative" technology.
At the China Pavilion, the Wuqiong AI Cloud interactive experience terminal delivered a distinctive immersive interactive experience. With simple operations, visitors could directly experience how different leading large models are deployed and run on different chips. Wuqiong AI Cloud integrates Infinigence AI's self-developed heterogeneous chip mixed-training capability, breaking down ecosystem barriers between multiple heterogeneous chip types. It achieved the world's first "4+2" single-task thousand-card-scale heterogeneous mixed training, with cluster compute utilization reaching up to 97.6% — effectively improving resource utilization of heterogeneous compute clusters.
In the AI experience zone of the Technology Equipment Exhibition Area, Infinigence AI prominently displayed two core technology products from its Wuyin edge intelligence solution: Infini-Megrez (Wuqiong Tianquan), an edge-side model with multimodal capabilities across text, image, and audio; and Infini-Mizar (Wuqiong Kaiyang), an intelligent terminal inference acceleration engine.
08/
Tungee Appears at 2025 CHTF
AI Agents Lead Digital Productivity Transformation
Recently, the 27th China Hi-Tech Fair (CHTF) opened in Shenzhen. This year's CHTF focused on strategic emerging industries including artificial intelligence, semiconductors and integrated circuits, and low-altitude and aerospace, concentrating on showcasing "high, precise, cutting-edge" technologies and products, and comprehensively presenting the frontier achievements of China's technological innovation.
As a large-model intelligent agent platform focused on digital productivity, Qiming Venture Partners portfolio company Tungee made a major appearance with its latest technology products, including the B2B Agent, Taiqing, and Kuanghu Data Cloud, showcasing its comprehensive digital workforce product matrix built for the large-model era.
At the artificial intelligence, intelligent manufacturing, and robotics industry chain pavilion, Tungee demonstrated its digital workforce's intelligent decision-making and execution capabilities in complex business scenarios, becoming a highlight of innovation at the exhibition.
Tungee's B2B Agent is no longer a single-function automation tool, but a self-driving "digital productivity unit." The product works out of the box while possessing business understanding, autonomous decision-making, and execution capabilities, helping companies break through human efficiency bottlenecks and reshape value creation models.
Company Honors
01/
Shengshu Technology Wins L'Oréal BIG BANG Beauty Tech Creation Program 2025
Recently, beauty industry leader L'Oréal China officially announced that Qiming Venture Partners portfolio company Shengshu Technology stood out in fierce competition to win the "2025 L'Oréal North Asia BIG BANG Beauty Tech Creation Program" China mainland "New Beauty Experience" track, thanks to its leading technical strength in multimodal large models and deep insights into the beauty industry. This collaboration marks Shengshu Technology as an important innovation partner for L'Oréal China in beauty technology, empowering L'Oréal's intelligent upgrades in advertising and marketing, content transformation, and consumer experience with its advanced generative AI technology.
The "L'Oréal BIG BANG Beauty Tech Creation Program" was first launched by L'Oréal China in 2020 and has been held for five consecutive years. It is the beauty industry's first open startup challenge focused on cutting-edge technology applications and a key engine for L'Oréal's beauty tech strategic transformation. The program aims to collaborate with top startups and innovators to jointly create revolutionary beauty tech solutions and consumer experiences. Winning the L'Oréal BIG BANG award represents high recognition for Shengshu Technology's Vidu MaaS product, fully demonstrating Vidu's practicality and significant commercial potential in high-end business scenarios.
02/
Over 30 Qiming Venture Partners Portfolio Companies Selected for 2025 China Biopharma FrontRunners 100 List
Recently, the 2025 China Biopharma FrontRunners 100 list was released at the 2025 Shanghai Biopharma Investment and Financing Summit and Fudan Biopharma Innovation Development Forum. Now in its third edition, the list selects benchmark companies across three sectors: biopharmaceuticals, medical devices, and digital health.
Qiming Venture Partners portfolio companies selected include: ArkBio, LaNova Medicines, MindRank, Laekna, TCR Biotech, MediLink Therapeutics, Epigenic Therapeutics, OriCell Therapeutics, Zenitar, Changsen Pharma, Shize Biotech, Sunlight Bio, Zena Bio, Gluetacs Therapeutics, NorthSea Therapeutics, DK MedTech, VINNO Medical, SceneRay, Nuomax, Impulse Dynamics, Jialiang Medical, Jieti Medical, Pulnovo Medical, DunBo Medical, Huimei Technology, DeepWise, Shukun Technology, Infervision, WeDoctor, Insilico Medicine, Yuanxin Technology, TetraMera, TandemAI, Beijing Zuoyi Technology Co., Ltd., and Zheng'an Health.
Chinese biopharma companies are moving away from "innovation for innovation's sake" toward "selective quality." In biopharmaceuticals, there is broad布局 in next-generation therapeutics including cell and gene therapy, multispecific/bispecific antibodies, ADCs, PROTACs, nucleic acid drugs, and novel delivery technologies. In medical devices, breakthrough innovations continue to emerge in high-end imaging equipment, surgical navigation and robotics, high-throughput sequencing, and brain-computer interfaces. In digital health, AI drug discovery, organoids, telemedicine, and digital therapeutics are expanding and enriching application scenarios while driving quality medical resources downward to benefit more patients.
03/
Eight Qiming Venture Partners Portfolio Companies Selected for QbitAI Think Tank 2025Q3 AI 100 Product Rankings
Recently, QbitAI Think Tank released the 2025Q3 AI 100 product rankings. This selection comprises a flagship product list and an innovative product list — the former representing the current leading camp, the latter representing future market seeds. From comprehensive strength to breakthrough potential, the two lists together sketch a more three-dimensional and realistic map of AI products, providing reference samples for industry participants and observers.
Qiming Venture Partners portfolio companies Zhipu AI, StepFun, Meitu (01357.HK), Xiaomi (01810.HK), and Future Intelligent were selected for the 2025Q3 AI 100 Flagship Product list; StepFun, Shengshu Technology, and Mafengwo were selected for the 2025Q3 AI 100 Innovative Product list.
QbitAI Think Tank notes that the present moment — when users are voting with new workflows and long-term repurchases — may be the period of greatest competition and variability for AI products. Faced with almost entirely new functional logic in the AI era (uncertain product delivery outcomes), design philosophy (task completion as core, no longer pursuing ecosystem traffic), and user psychology (lower switching costs, willingness to try entirely new workflows), whether for giants that got an early start or new-generation entrepreneurs born in this era, all practitioners still need to find their way. How to thoroughly and effectively address specific scenarios and pain points along users' core usage chains will be the central proposition for the next stage. For now, "scenario segmentation" and "hyper-personalization" may be the certainty within current uncertainty.
Past Issues
Qiming Weekly | Qiming Venture Partners Portfolio Company Financing and Updates Vol. 39, 2025 Qiming Honors | Qiming Venture Partners and Over 10 Portfolio Companies Selected for Diyixinsheng Third AI Innovation Pioneers — 2025 China AI Industry Innovation Pioneers List
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 Venture Partners 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 listed 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.
Many Qiming Venture Partners portfolio companies have grown into the most influential companies 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), 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), GenScript ProBio (688520.SH), Harbour BioMed, Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu AI, StepFun, Biren Technology, and others.