Qiming Weekly | 10 Updates from Qiming Venture Partners Portfolio Vol.23, 2026.7.7

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 join you in marking the milestone moments of our portfolio companies.

Major Partnerships

01/ Insilico Medicine and Takeda Pharmaceutical Company Reach Strategic Collaboration Worth Over $600 Million

Recently, Qiming Venture Partners portfolio company Insilico Medicine (03696.HK), a clinical-stage generative AI-driven drug discovery company, announced a global strategic partnership with Takeda Pharmaceutical Company. The two parties will leverage Insilico Medicine's self-developed integrated end-to-end Pharma.AI platform to jointly advance candidate drug development across multiple therapeutic areas selected by Takeda.

This collaboration aims to discover clinically differentiated candidate drugs against high-potential therapeutic targets. By applying advanced generative AI models to early-stage drug discovery, both teams expect to comprehensively enhance the quality of candidate molecule design and structural optimization, with the goal of achieving best-in-class efficacy and ideal safety profiles.

02/ Abbisko Therapeutics Partners with AstraZeneca

Recently, Qiming Venture Partners portfolio company Abbisko Therapeutics (02256.HK) announced that it has signed a strategic partnership agreement with AstraZeneca to jointly advance clinical research on a novel combination immunotherapy for non-small cell lung cancer (NSCLC). The study is a multi-center, open-label Phase I/II clinical trial evaluating the safety and efficacy of Abbisko Therapeutics' self-developed first-in-class oral small molecule PD-L1 inhibitor ABSK043 (lumipodlin) combined with AstraZeneca's third-generation EGFR-TKI Tagrisso® (osimertinib mesylate tablets, hereinafter referred to as "osimertinib") in patients with EGFR-mutated, PD-L1-positive locally advanced or metastatic NSCLC.

The investigational new drug (IND) application for this study was approved by the National Medical Products Administration (NMPA) on May 20. Abbisko Therapeutics will lead the Phase II portion, with both companies sharing responsibilities for the clinical trial.

Lumipodlin is a potentially first-in-class oral small molecule PD-L1 inhibitor that demonstrates differentiated advantages beyond its oral administration route. Currently, third-generation EGFR-TKIs represented by osimertinib have become the first-line standard treatment for EGFR-mutated advanced NSCLC. However, for patients with EGFR mutations combined with high PD-L1 expression, efficacy is inferior to that in patients with low or negative PD-L1 expression, representing a long-standing unmet medical need in this patient population.

03/ HyperStrong and Plus Xnergy Successfully Commission Malaysia Energy Storage Project

Recently, Qiming Venture Partners portfolio company HyperStrong (688411.SH) completed full-capacity grid connection and commissioning of its 20MWh energy storage project in Malaysia. Developed in partnership with Malaysian partner Plus Xnergy, the project is located at a leading large-scale food production industrial park in Malaysia, marking HyperStrong's significant overseas expansion and setting a new benchmark for commercial and industrial energy storage in Southeast Asia.

The project was led by a well-known Malaysian new energy development company, with Plus Xnergy, a leading Malaysian renewable energy and energy storage EPCC (engineering, procurement, construction, and commissioning) service provider, responsible for delivery. Leveraging experience in delivering over 500MWp of photovoltaic systems and 100MWh of energy storage projects nationwide, along with deep engineering expertise and local execution capabilities, Plus Xnergy handled engineering design, equipment procurement, construction, system commissioning, and grid connection, ensuring smooth project implementation and stable commissioning.

04/ Thorough Future and Astellas China Launch AI-Powered Gastric Cancer Precision Diagnosis

Recently, Qiming Venture Partners portfolio company Thorough Future and Astellas China joined forces to open a new chapter in AI-powered precision diagnosis of gastric cancer. The two parties will deeply integrate their core strengths in targeted therapy and intelligent diagnosis, using artificial intelligence to systematically reshape the standardized detection system for CLDN18.2 biomarkers, promote deep integration of digital pathology and targeted therapy, and jointly build full-process digital intelligent diagnostic capabilities for gastric cancer precision treatment.

Thorough Future's core product, the Thorough Insights AI-assisted pathology diagnosis platform, has been widely deployed at over 1,000 medical institutions globally, building full-chain intelligent assisted diagnostic capabilities from slide quality control scoring, rapid screening, lesion area indication, lesion area calculation, to structured report generation. In gastric cancer CLDN18.2 detection scenarios, the platform can intervene throughout the diagnostic process, systematically eliminating subjective variations from manual slide review through objective, unified AI interpretation standards, making standardized detection truly scalable and reproducible. Thorough Insights' capabilities extend far beyond a single tumor type — the platform comprehensively covers core cancer organs including stomach, intestine, esophagus, lung, prostate, endometrium, cervix, breast, lymph nodes, pancreas, liver, and thyroid, and seamlessly integrates with mainstream pathology scanners and information systems, connecting the complete digital pathology workflow from slide digitization, data storage, to assisted diagnostic analysis and report output, becoming a core driving force in advancing pathology diagnosis toward standardization and normalization.

Product Launches

01/ UBTECH's Hyper-Bionic Robot Exceeds 10,000 Pre-Orders at Launch

Recently, Qiming Venture Partners portfolio company UBTECH (09880.HK) held its 2026 Global Launch Event in Shenzhen, unveiling its "Human-Machine Symbiosis" strategy for the next decade and releasing the full-size hyper-bionic humanoid robot U1 series, including three products: the half-body U1 Lite, the full-body premium U1 Pro, and the full-body high-dynamic U1 Ultra. The U1 Lite is priced at RMB 119,800; the U1 Pro at RMB 169,800; and the U1 Ultra at RMB 990,000 for the male version and RMB 880,000 for the female version.

At the launch event, UBTECH announced that U1 series orders across all online and offline channels have cumulatively exceeded 13,361 units, with delivery targeted for this year. This also marks the world's only full-size hyper-bionic humanoid robot with mass production capabilities, signaling humanoid robots' transition from industrial to consumer scenarios and opening a new era of human-machine symbiosis.

02/ Shengshu Technology Releases Vidu S1 Real-Time Interaction Model

Recently, at the 2026 Global Digital Economy Conference AI Integration and Application Development Forum, Shengshu Technology founder Zhu Jun delivered a keynote speech titled "General World Model: A New Paradigm for Unifying the Digital and Physical Worlds," and officially released the next-generation model for real-time interaction scenarios — the Vidu S1 real-time interaction model. During the conference, the Beijing Software and Information Service Association (BSIA) officially released the 2025 Beijing Digital Economy Benchmark Enterprise Evaluation Report, in which Shengshu Technology was recognized as a "New Model and New Application Benchmark Enterprise" for its outstanding performance in technological innovation and industrial application.

The model supports real-time video calls and voice-controlled video direction. Users can not only control digital avatars through voice but also achieve unlimited-duration continuous interaction. Meanwhile, Vidu S1 supports 540P (960x540) HD resolution at 25FPS (up to 42FPS), enabling rapid creation of personalized interactive characters based on any initial appearance including real people, anime, and cute pets, along with personalized voice tones, delivering more natural, fluid, and immersive real-time interactive experiences.

03/ Yunji Technology Officially Releases Embodied AI Single-Arm Collaborative Robot

During the 2026 Global Digital Economy Conference, Qiming Venture Partners portfolio company Yunji Technology (02670.HK) was invited to the "New Technology and New Product Premiere" special session to officially release its new-generation commercial service robot — the embodied AI single-arm collaborative robot.

At the event, Zhao Boxue, General Manager of Yunji Technology's Intelligent Manufacturing Center, was invited to share the design philosophy and vision behind the product: "We believe AI only begins to create industrial value when it enters real scenarios, completes real tasks, and delivers real results." With this as a guiding principle, the new product's release also marks physical AI's transition from proof-of-concept to scalable commercial deployment, with service robots achieving the leap from "mobility" to "mobility plus manipulation," thereby expanding the boundaries of commercial service operations.

R&D Progress

01/ Wushuang Medical's Innovative ICM Product First to Receive NMPA Class III Registration Certificate

Recently, the Silu® MA01-100 implantable cardiac monitor (ICM) independently developed by Qiming Venture Partners portfolio company Wushuang Medical officially received approval from the National Medical Products Administration (NMPA), successfully obtaining a Class III medical device registration certificate.

This approval marks a major breakthrough for Wushuang Medical in the cardiac rhythm management field, further enhancing the independent innovation and localization of long-term arrhythmia monitoring equipment in China, providing clinicians with richer diagnostic and treatment options, better meeting patients' long-term monitoring needs, and playing a positive role in promoting domestic substitution of high-end medical devices and safeguarding public health.

02/ Pulnovo Medical's PADN System Approved for Sale in Indonesia

Recently, Qiming Venture Partners portfolio company Pulnovo Medical, a pioneer in breakthrough therapies for pulmonary hypertension and heart failure, announced that its self-developed pulmonary artery denervation (PADN) system, including the PADN disposable circular pulmonary artery radiofrequency ablation catheter and the PHD360 pulmonary artery radiofrequency ablation instrument, has officially received approval from the Indonesian Ministry of Health for market launch, for the treatment of Group 1 pulmonary hypertension (Group 1 PH). This marks the PADN system as Indonesia's first approved pulmonary hypertension interventional device, filling a treatment gap in the country.

This approval is significant not only as Pulnovo Medical's first successful entry into the Association of Southeast Asian Nations (ASEAN) market, but also as the company's eighth regional regulatory approval following China, the European Union, Hong Kong, the United Arab Emirates, Peru, Serbia, and Saudi Arabia. This milestone further validates the high consistency of Pulnovo Medical's original technology across multinational regulatory systems and its solid clinical value.

Technical Strength

Daxiao Robotics Open-Sources Unified Embodied Foundation Model ACE-Brain-0.5

Recently, Qiming Venture Partners portfolio company Daxiao Robotics officially open-sourced its next-generation unified embodied foundation model ACE-Brain-0.5, targeting the new paradigm of Physical Agentic AI and pushing embodied intelligence toward autonomous execution in the real physical world. Physical Agentic AI refers to intelligent agents that can autonomously perceive environments, understand tasks, plan, and act around goals in the real physical world, continuously adjusting and evolving through interactive feedback. As a major upgrade to ACE-Brain-0, ACE-Brain-0.5 uses spatial intelligence as its foundation, advancing robotic foundation models from "understanding the world" to an integrated closed-loop cognitive stage of "understanding, planning, acting, and evaluating." Under a single 8B-parameter backbone, the model unifies four core capabilities — spatial perception, decision planning, embodied interaction, and self-evaluation — and coordinates heterogeneous interfaces including grounding, navigation, manipulation, and progress evaluation through the SSR+ training strategy, laying a unified and scalable cognitive foundation for physical agents to achieve continuous self-evolution.

The significance of ACE-Brain-0.5 lies not merely in leading individual metrics, but in providing a practical unified modeling path for Physical Agentic AI. From ACE-Brain-0's spatial intelligence foundation to ACE-Brain-0.5's unified closed-loop brain, Daxiao Robotics is advancing along a clear technical roadmap: first enabling robots to develop stable spatial understanding capabilities, then further connecting the full chain of perception, planning, action, and evaluation, gradually equipping models with closed-loop execution capabilities for real-world tasks.

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Previous Issues

Qiming Perspectives | Duane Kuang of Qiming Venture Partners: Embrace the Cycle, Ride Through the Cycle — AI Will Be an Ultra-Long Technology Cycle Qiming Weekly | Top 10 News from Qiming Venture Partners Portfolio Companies Vol.21, 2026.6.23 Qiming Headlines | Qiming Venture Partners and Portfolio Companies Win Multiple Awards Including ChinaVenture 2025 Top Venture Capital Firms TOP4

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 listed 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 over 80 companies recognized as unicorn or super-unicorn enterprises in their respective industries.

Many Qiming Venture Partners portfolio companies have grown into the most influential companies in their 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 AI (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), Hope Medicine, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.