Qiming Weekly | Top 10 News from Qiming Venture Partners Portfolio Companies Vol.10, 2026.3.24

Editor's Note: In 2026, the Qiming Weekly has been upgraded and refreshed, with regular weekly updates featuring only ten major developments from Qiming Venture Partners' portfolio companies, covering funding progress and breakthroughs.

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 together with you, pay attention to the milestone moments of its portfolio companies.

Major Partnerships

01/ WeRide Reaches National-Level Strategic Partnership with ELEVATE Slovakia

Qiming Venture Partners portfolio company and global leading autonomous driving technology company WeRide (NASDAQ: WRD, 0800.HK) announced a national-level strategic partnership with ELEVATE Slovakia, officially launching Slovakia's first autonomous driving project — the first large-scale autonomous driving commercialization plan in Europe driven at the national level and covering multiple product lines. Slovakia thus becomes the fourth European market for WeRide, following France, Belgium, and Switzerland, with the company's global operations now covering over 40 cities across 12 countries. ELEVATE Slovakia is a national multi-stakeholder initiative bringing together the Ministry of Transport, the Ministry of Investment, Regional Development and Informatization, the Bratislava city government, Slovak Post, and multiple universities and technology companies, dedicated to building a safe, compliant, and sustainable autonomous driving transportation system and laying institutional and practical foundations for future nationwide pure unmanned commercial operations. Under the cooperation plan, WeRide will fully deploy its autonomous driving product matrix in Slovakia, including Robotaxi, Robobus, Robovan, and Robosweeper, respectively for: autonomous passenger transport services in cooperation with the Ministry of Transport, unmanned parcel delivery services with Slovak Post, and smart sanitation operations with municipal partners including the Bratislava city government. The first batch of WeRide autonomous vehicles will arrive in Slovakia in spring 2026, with testing planned to begin in the capital Bratislava in the first half of 2026, later expanding to Košice and the High Tatras. All testing will be conducted under the supervision of the Ministry of Transport to ensure compliance with Slovak and EU regulations, and will gradually advance toward pure unmanned commercial operations after meeting all legislative and safety standards.

02/ New-Generation Xiaomi SU7 Features Hesai Technology LiDAR as Standard

Recently, Xiaomi Auto officially released the new-generation SU7, positioned as "the new generation driver's car." The new model comes in three configurations, starting at 219,900 yuan, with Hesai Technology (NASDAQ: HSAI, 02525.HK) LiDAR as standard equipment across all trims. Within 34 minutes of launch, locked-in orders exceeded 15,000 units.

The new-generation SU7 sees a major upgrade in intelligent assisted driving, with fully equipped assisted driving hardware across all trims, including Hesai Technology LiDAR, 4D millimeter-wave radar, and 700 TOPS assisted driving compute power; software upgrades include Xiaomi's XLA cognitive large model architecture, featuring greater multimodality, higher efficiency, and better controllability — marking Xiaomi's intelligent assisted driving evolution from "data-driven" to "cognition-driven."

03/ Belief BioMed and Grand Life Science Reach Exclusive Commercialization Partnership

Recently, Qiming Venture Partners portfolio company Belief BioMed and Grand Life Science announced an exclusive cooperation agreement, under which Belief BioMed authorizes Grand Life Science to handle commercialization rights for its investigational product BBM-H803 injection in mainland China and the Hong Kong, Macau, and Taiwan regions. The two parties will integrate their respective strengths to jointly accelerate the product's commercialization, aiming to provide innovative treatment options for hemophilia A patients and jointly promote the development of the gene therapy industry. Xiao Xiao, co-founder, chairman, and chief scientific officer of Belief BioMed, and Feng Zenghui, chairman of Grand Life Science Group, signed the strategic cooperation agreement on behalf of their respective companies.

Dr. Xiao Xiao, co-founder, chairman, and chief scientific officer of Belief BioMed, stated: "Belief BioMed focuses on cutting-edge gene therapy, with a product pipeline broadly covering rare and common diseases, dedicated to filling unmet clinical needs. In 2025, we successfully launched Xinjiuning®, China's first gene therapy drug for hemophilia B, providing a new treatment option for Chinese hemophilia B patients. Now, in the hemophilia A treatment space, we are very pleased to reach this strategic partnership with Grand, integrating Belief BioMed's solid clinical development capabilities with Grand's strong commercialization strength — a perfect match — to jointly advance the commercialization of hemophilia A gene therapy. We look forward to bringing new treatment solutions to Chinese hemophilia A patients as soon as possible."

04/ UBTECH Reaches Major Partnership with Siemens

Recently, Qiming Venture Partners portfolio company UBTECH (09880.HK) and Siemens Industrial Software formally signed a strategic cooperation framework agreement in Shenzhen. This powerful alliance centers on full value chain deep cooperation in the humanoid robot field, fully integrating UBTECH's full-stack technical advantages in humanoid robots with Siemens' global smart manufacturing digitalization experience, accelerating UBTECH's 2026 sprint toward the production target of 10,000 industrial humanoid robots and jointly creating a new benchmark for the humanoid robot industry's transformation from technological innovation to scaled mass production.

At the signing ceremony, Zhou Jian stated: "This year, humanoid robot market demand has continued to release, with orders seeing significant growth. Ten-thousand-unit scaled production has become a must-achieve target for UBTECH in 2026. UBTECH's deep strategic cooperation with Siemens is precisely a key measure to ensure the landing of this goal. Relying on both parties' technical and resource advantages, we will fully drive the achievement of mass production targets."

According to the agreement, the cooperation will mainly focus on planning leadership, technology integration, talent cultivation, and ecosystem co-construction. Siemens will combine its global smart manufacturing practical experience with humanoid robot industry development trends to formulate an overall digital transformation plan and technical implementation path for UBTECH from core technology R&D to scaled mass production.

05/ Zhipu AutoClaw "Aolong" Integrates with WeChat

Recently, WeChat officially announced the launch of the "WeChat ClawBot" plugin, with Qiming Venture Partners portfolio company Zhipu (02513.HK) AutoClaw "Aolong" completing same-day integration. From then on, users simply open WeChat, send instructions, and their exclusive "Aolong" can help them get things done anytime, anywhere. It is China's first truly one-click-installable local version of OpenClaw, with 50+ popular pre-installed Skills. One download turns your computer into a 24/7 dedicated work assistant.

To date, AutoClaw "Aolong" has connected with WeChat, Lark, WeCom, QQ, and DingTalk. More channels will be integrated in the future with continuous iteration, providing everyone with a "lobster" team that understands you better and gets work done better.

Product Launches

01/ StepFun Launches Step Plan "Shrimp Farming" Package

Recently, Qiming Venture Partners portfolio company StepFun officially released a monthly subscription plan designed specifically for developers — Step Plan. This new plan, playfully dubbed the "shrimp farming package," aims to provide more cost-effective compute support for users heavily reliant on AI programming and agent tasks.

This debut lineup is full of highlights, with full integration of the well-received Step-3.5 Flash model. Globally recognized by developers as the "dual champion of speed and logic," Step-3.5 Flash will have turbo mode enabled by default in the Step Plan, allowing users to enjoy lightning-fast inference without additional fees. To accommodate different intensity levels of development needs, Step Plan offers a complete matrix from basic to top-tier configurations: Flash Mini for simple tasks, Flash Plus for daily development, Flash Pro for heavy usage, and Flash Max for team production.

02/ YourHealth AI Family Doctor Gets Major Upgrade

Recently, Qiming Venture Partners portfolio company YourHealth AI Family Doctor received an important upgrade. The upgraded AI Family Doctor transforms health consultations from "tasks" into "conversations." It supports voice queries as natural as chatting, while being able to combine with users' health profiles — including medical history, past physical examinations, health data — to provide personalized health recommendations.

Moreover, previously when users received physical examination reports, they often had to go through cumbersome processes: taking photos, uploading, explaining medical history, supplementing data. YourHealth AI Family Doctor now supports one-click report interpretation, with the AI combining users' health history records for clear interpretation and professional analysis. As one of the membership benefits, AI Family Doctor is working with more health management and medical services to build a complete membership experience system.

R&D Progress

01/ Changsen Pharma Completes First Patient Enrollment in Phase III Atopic Dermatitis (AD) Clinical Trial

Recently, Qiming Venture Partners portfolio company Changsen Pharma's self-developed highly selective JAK1 inhibitor LW402, in the Phase III clinical trial "A multicenter, randomized, double-blind, placebo-controlled Phase III clinical trial evaluating the efficacy and safety of oral LW402 tablets in treating patients with moderate-to-severe atopic dermatitis" led by Professor Zhang Jianzhong and Professor Zhou Cheng of Peking University People's Hospital, successfully completed first patient enrollment.

LW402 is a highly selective JAK1 inhibitor self-developed by Changsen Pharma for the treatment of multiple autoimmune diseases including atopic dermatitis, rheumatoid arthritis, and vitiligo. Existing clinical data shows that LW402 acts rapidly, with significant improvement in patient inflammation-related efficacy indicators visible within one week, and target-related adverse events showing no statistically significant difference compared to the placebo group, with excellent efficacy and safety data.

02/ Belief BioMed Successfully Completes First Subject Dosing in Phase III Registrational Clinical Study for Hemophilia A Gene Therapy

Recently, Qiming Venture Partners portfolio company Belief BioMed, an innovative enterprise focused on cutting-edge gene therapy, announced that its self-developed and manufactured BBM-H803 injection registrational clinical study (CTR20233400), led by Professor Zhang Lei of the Chinese Academy of Medical Sciences Blood Diseases Hospital, has successfully completed first subject dosing in its Phase III confirmatory study. This study is a multicenter, single-arm, open-label, single-dose registrational clinical study aimed at evaluating the safety, tolerability, and efficacy of single-dose intravenous infusion of BBM-H803 injection in severe hemophilia A patients aged 18 and above.

BBM-H803 injection is a recombinant adeno-associated virus (rAAV)-based gene therapy drug, with its active ingredient being rAAV containing an optimized coagulation factor VIII (FVIII) gene expression cassette. After infusion, the gene expression cassette is delivered to the patient's liver cell nuclei to express functional FVIII, thereby treating hemophilia A. Previous investigator-initiated clinical research (IIT) and Phase I/II study results showed that BBM-H803 injection demonstrated good safety and tolerability in adult hemophilia A subjects, with relevant data providing solid foundational support for subsequent registrational clinical studies.

Dr. Xiao Xiao, co-founder, chairman, and chief scientific officer of Belief BioMed, stated: "We have reached another key milestone in the development journey of BBM-H803 injection — the successful completion of first subject dosing in the Phase III confirmatory study. This not only marks the drug's entry into a critical validation phase, but also means we have taken another solid step forward on the practical path toward providing revolutionary gene treatment solutions for Chinese hemophilia A patients. Sincere thanks to the R&D team for years of persistent efforts, the strong support of partners, and the patient community that has always placed their trust in us. Belief BioMed will continue to uphold its original aspiration of 'taking technology as faith, taking patients to heart,' gathering internal and external forces to efficiently and rigorously advance Phase III clinical research, and going all out to drive the early approval and market launch of this innovative therapy to truly benefit the broad patient population."

03/ Yangli Pharma's First FDA-Filing Innovative Drug Project Accepted

Recently, Qiming Venture Partners portfolio company Yangli Pharma announced that its self-developed highly selective aldosterone synthase inhibitor VB19055, for the hypertension indication, has had its investigational new drug application (IND: 180881) formally accepted by the U.S. Food and Drug Administration (FDA). This is Yangli Pharma's first innovative drug project filed with the FDA. As a leading biopharmaceutical company dedicated to researching breakthrough therapies for cardiovascular diseases, metabolic diseases, and cancer, this first innovative drug filing brings new treatment hope to global patients with hypertension and cardiorenal metabolic diseases.

VB19055 is a Best-in-class Potential oral small-molecule innovative drug self-developed by Yangli Pharma, precisely targeting aldosterone synthase (Aldosterol Synthase Inhibitor), a core pathogenic target for hypertension. Its mechanism of action aims to precisely and efficiently inhibit aldosterone synthase, thereby reducing systemic aldosterone levels. This treatment approach can more accurately address aldosterone dysregulation, a key pathogenic factor, improving blood pressure elevation caused by aldosterone imbalance as well as chronic damage to the heart and kidneys, providing patients with more effective treatment.

Dr. Ding Zhaozhong, founder and chairman of Yangli Pharma, stated: "VB19055's FDA IND acceptance is an important milestone in Yangli Pharma's global R&D efforts, and even more so a hardcore validation of the team's core R&D capabilities and execution efficiency. As the company's first innovative drug stepping onto the international stage, VB19055's development is precisely anchored at the massive global unmet clinical need in the hypertension field. We firmly believe that its unique target advantages and preclinical data have the potential to become a brand-new choice for global hypertension treatment. The company will advance VB19055's global clinical research at full speed, accelerating clinical value validation, with the hope of benefiting global patients as soon as possible. Going forward, Yangli Pharma will continue to increase investment in global innovation, driving more First-in-class/Best-in-class innovative drug pipelines to the world."

Past Issues

Qiming Perspectives | Duane Kuang of Qiming Venture Partners: Over the Next 20 Years, Investing in AI Is the Greatest Certainty in China Investing 5 AI IPOs in 7 Months, Qiming Venture Partners: Investing in AI Is the Greatest Certainty in China Investing Over the Next Two Decades

Qiming Weekly | Top 10 News from Qiming Venture Partners Portfolio Companies Vol. 09, 2026.3.17

Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages 11 USD funds and 7 RMB funds, with total committed capital reaching $9.5 billion. Since its establishment, it 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, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through mergers and acquisitions, with more than 80 recognized by the industry as unicorn or super-unicorn companies.

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, 0800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Biren Technology (06082.HK), Zhipu (02513.HK), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ: ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ: SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), SinoCellTech (688520.SH), Insilico Medicine (03696.HK), HepBerna, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.