SenseTime
商汤科技
SenseTime is a Chinese AI company founded in 2014, built around original computer-vision and deep-learning research at a time when the industry was chasing mobile internet; it listed on the Hong Kong Stock Exchange on December 30, 2021 (ticker 0020.HK), with co-founder, chairman and CEO Xu Li framing the IPO as "a new starting point for the AI industry" . Its business spans four segments — smart business, smart city, smart life, and smart auto — anchored by SenseCore, an AI infrastructure it describes as linking compute, algorithms, and platform to industrialize AI production . Since listing it has kept extending that stack into new form factors: a consumer chess-playing robot "SenseRobot" in 2022, a 776-million-Saudi-riyal joint investment with SCAI to build an AI lab in Saudi Arabia, and its controllable human-video generation model Vimi, which won a top exhibit award at WAIC 2024 . 5Y Capital, a backer since 2017, described its bet on SenseTime as a wager that "the world rewards those who stay pure for the long run" .
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Gaorong Ventures Report: Physical AI, Domestic Computing Power, Controllable Nuclear Fusion, and Medical Innovation Companies Close Major Funding Rounds
From the continuous leap in model capabilities to hard tech crossing the thresholds of engineering and industrialization, a new wave of technological innovation is accelerating toward the real world.
Yachen Song: Advancing Civilization for the World, Creating Happiness for Humanity | North Slope Project
This grove may still be just a thicket of shrubs, but one day it will grow into a forest.
E15. Yachen Song: Advancing Civilization for the World, Creating Happiness for Humanity | North Slope Project
What Is the Next-Generation Real-Time Interactive Model? Vivix's Liu Yu on First-Principles Thinking | BlueRun Ventures Headline
What kind of AI content are people more willing to consume than on Douyin?
Vivix: Starting from a Place Where No One Believed
The scaling of real-time interactive models hasn't really begun yet.
Xi Wang Sunrise Xu Bing: Where Is AI's Biggest Opportunity in the Next Decade? | Xinxing PORTFOLIO
Building houses and rules for AI Agents.
Momenta Goes Public: A Decade Together, the First Physical AI Stock
Congratulations on Momenta's IPO — together toward a physical AI future
ZhenFund and Momenta's Ten-Year Journey, as the "Physical AI" First Stock Goes Public
Volume production deployments have surpassed 1 million units.
Former Huawei Autonomous Driving AI Lead Huang Qingqiu Joins Moqi Intelligent Technology, Which Raises Over 1 Billion Yuan for General-Purpose Robots
General-purpose robots will inevitably become humanity's super terminal in the physical world.
SenseTime Office Raccoon Desktop 2.0 Is Here: No Fluff, Just Gets to Work
Let's skip the buzzwords and run through four real-world work scenarios.
Who's the World's Top FA? Not Fan Bao
"Not Fan Bao" April 27, 2026 Qiu Mu *Burying AI* If you clicked on this headline, you probably already know the answer. Allow me to formally introduce — the unicorn factory that hit a $1.3 billion valuation before its product even officially launched, the King Maker holding several "AI Douyins" and world-model projects, the benefactor of Lovart's Melvin Chen on his road to success, the Farsighted Capital that uses Wu Ma as its own Dou+. As the most accomplished player in the current meta of China's venture capital market...
AI Unicorn Factory
Script, catfish, loop, rainmaker, role model, results.
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Staying with you through the milestone moments of Qiming Venture Partners' portfolio companies
"Xi Wang" Releases Next-Generation Inference GPU Qiwang S3, Advancing Domestic Inference Computing Power | Xinxing PORTFOLIO
Computing Power Evolved: Run It, Run It Stable, Run It Long.
Those Who Made It Out Alive
Counselor Vitality
January, Emergence, and Prologue | 5Y News Monthly
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Cloud Summit · Inside SenseTime | The Next Step for Technology and Growth, The Underlying Engine of AI Industrialization
Exploring the Deep Integration of Technology and Industry
Li Shanyou in Conversation with Yachen Song: Building the World's Most Powerful AI 3D Foundation Model in Three Years | Oasis Vitality
"Everyone has their own happiness, and that matters a lot to me."
Yunqi Capital Doers | MiniMax's Junjie Yan and Yonghao Luo's Four-Hour Deep Dive on "Hard but Right"
Before consensus emerges, choose the hardest path.
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Peter Thiel is China's delusional dream chaser.
Now is the best time for US tech giants to wave the white flag to China 🏳️
Ling Universe Raises 200 Million in New Funding to Build an AI World Operating System
A leap forward.
Seeing Further Possibilities | 5Y News Monthly
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Looking Back at China's "AI Four Dragons": How Did the Hype Collapse?
All glory that cannot form a closed loop is fleeting.
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The Future Unfolds in Every Generation | 5Y News Monthly
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Expo Hopping and Gossip: Fresh Dispatches on Linear Capital From Inside and Outside WAIC | Linear News
At the singularity of thought, the future is compiling itself.
Trailblazers Carry Their Own Wind | 5Y News Monthly
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StepFun has no news.
A Journalism Major's Finest Hour
Before Dominating 618, We Talked to Gu Jiawei About "Ling Universe" and Its Philosophy of Deep Interaction | Linear Voice
Redefining the way humans connect with the world.
Zhipu AI's Existential Crisis
Everything for Existence
Qiming Venture Partners Weekly | Portfolio Company Updates and Funding News Vol. 22, 2025
Following Qiming Venture Partners' portfolio companies' milestone moments with you
The Answer Isn't on the Old Map | 5Y News Monthly
The big news from last month.
Interview with Nooka's Kai Tang: A Post-'95 Generation Rewriting Kant with AI, How New Platforms Will Redefine Creators | 100 AI Creators
Whoever can define the new creator will build the next-generation content platform.
The World Is Bigger Than the Logic Right in Front of You | 5Y News Monthly
The big news from last month.
Yunqi Capital's Chengyu Mao in Conversation with SenseTime's Xu Li: 2025 — Is AI Entrepreneurship Getting Harder?
Run with a marathoner's mindset — just keep going.
Yunqi Capital Partners with Shanghai Jiao Tong University to Launch AI Angel Fund, Offering Full-Stack Support for Entrepreneurs
Safeguarding AI Innovation
Crossing March Offline Salon Recap: What AI Startup Opportunities Exist in the Post-DeepSeek Era?
We recently pulled off "something big."
A Conversation with Cao Xudong: Eight Years of Entrepreneurship, Why the "One Flywheel, Two Legs" Strategy | Z Talk
When making decisions, always let customer value be your guide.
March, Into the Realm of Hope | 5Y News Monthly
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Miracles Come from Perseverance | 5Y News Monthly
The big news from last month.
Gaorong Report · 2025 | Innovative Drugs, Agri-Tech, AI Content Platforms Close Funding Rounds; Gaorong Earns Multiple Accolades
Innovation as the sail, hard work as the oar.
January: Arriving at the Realm of Infinity | 5Y News Monthly
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"Dream Dimension" Raises Tens of Millions of RMB in Series A Funding, Sparking a New Wave of AI Interactive Content
Multimodal AI is powering a new content experience.
November, a World of Infinite Possibilities | 5Y News Monthly
The big news from last month.
Returning to Dollar-Denominated VC: Is It Like Joining the Nationalist Army in 1949? | A Conversation with Xing Meng, 5Y Capital's New Partner
Are those who go against the current naive, or brave?
Faith is not an idea, but a way of life.｜5Y News Monthly
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VAST Closes New Funding Round: Is 3D the Last Ticket for AIGC?
Will 3D Be the Future?
September: Stay Deliberately Curious | 5Y News Monthly
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AI Agent, a New Form of Life | Agent Insights
Counselor Vitality
If wisdom lacks the courage of execution, it is all in vain | 5Y News Monthly
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A Conversation with Momenta's Cao Xudong: Beyond Moore's Law for Autonomous Driving | Z Circle
The hardest choice is not changing your original choice.
Beijing says it wants to become an AI-native city. Shanghai responds with a confused "what?"
Is the sewer system of an AI-native city AI-generated?
Eight Hard Thoughts on the Vitality of AI Hardware | Yunqi Capital × Zhixing Attent!on Shenzhen Recap
From *One Punch Man* to *Ready Player One*
Tesla Chose Shanghai to Send Its Optimus Robot Into the Spotlight
Another day of loving Shanghai.
Confidence Is Tomorrow's Trailblazer | 5Y News Monthly
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ChatGPT Mac App Arrives | DingTalk to Open Up to All AI Large Model Vendors | Groq Valued at $2.5 Billion in New Funding Round
The power of intelligence comes from human complexity, not from a single, perfect principle.
SenseTime Researcher Hangyu Mao: Collaboration and Alignment Between Agents | Agent Insights
Counselor Vitality
Change Begins with What You See | 5Y News Monthly
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Throwing a 100-day banquet for the "Crossing" podcast — our troublemaking extrovert selves welcome you to keep co-creating energy with us
After "Crossing" hit 100 days on air and crossed 5,000 subscribers, we slapped our thighs and made a call: let's throw a party!
Chinese in Saudi Arabia: Flowers, Desert, and Dampened Dreams
A wavering journey of ambition.
Action Is the Simplest Method | 5Y News Monthly
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A Conversation with Junjie Yan of MiniMax: AGI Isn't a Doomsday Weapon, It's a Product Ordinary People Use Every Day | Oasis Vitality
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Yunqi Capital | In Conversation with MiniMax's Junjie Yan: AGI Isn't a Weapon — It's a Product Ordinary People Use Every Day
MiniMax is already one of China's most highly valued large language model companies.
April: Growing Upward | 5Y News Monthly
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Replicating Sora? Long-context or RAG? Are Agents a fake demand? | Yunqi Capital's Ten Questions X Attent!on
Just enjoy the "petrichor" of AGI.
China's LLM Funding War: The Quick Death of Romance
Do the investors regret it?
The beginning of a miracle often lies within the thing itself | 5Y News Monthly
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You Yourself Are the Newest Year | 5Y News Monthly
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Tang Xiaoou and His Unfinished AI Puzzle
The Unfulfilled Ambitions of a 55-Year-Old Scientist
December, the Road Keeps Extending | 5Y News Monthly
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November: Stay Curious and Imaginative | 5Y News Monthly
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"AI + Vertical Industry Applications" Salon Recap: What's Changing in Marketing, Law, and Healthcare?
Since ChatGPT's official launch, the generative AI-driven entrepreneurship wave has continued to spread globally — and after 300 days, the赛道 remains as hot as ever. The long-term value proposition that **generative AI will transform productivity** has become an industry consensus. Yet the road ahead is long. The harder questions behind this revolution are how to **translate technology into real-world deployment, accelerate the development of innovative applications in vertical scenarios, and achieve commercialization**.
September, Sprinting on the Cloud | 5Y News Monthly
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A Complete Map of China's Industrial Investment: When the Gears of Fate Begin to Turn
Seven sectors, 200 investments, 500 funds — all in nine charts.
August: Keep Pushing Forward | 5Y News Monthly
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200 Days of Frenzy: China's LLM Wars Stuck in a Stalemate
Consensus can form quickly — and dissolve just as fast.
July: The Courage to Keep Believing | 5Y News Monthly
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June, the World's Childhood | 5Y News Monthly
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Li Xiang x Li Feng: Why Did ChatGPT Emerge Today? What Happens Next? | Li Feng Column
Is there still a chance to build a Chinese OpenAI?
May, Where Hope Springs Eternal | 5Y News Monthly
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Pressing Onward, Into the Unknown | 5Y News Monthly
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"Whatever one man can imagine, other men can make real" | 5Y News Monthly
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Time forever forks, leading toward innumerable futures | 5Y News Monthly
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That night belonged to Saudi Arabia, not to the Chinese funds raising capital in the Middle East.
For most Chinese funds, the Middle East remains uncharted territory.
Beyond What Meets the Eye | 5Y News Monthly
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5Y News | 5Y Capital Portfolio Company Direct Drive Tech Closes Nearly RMB 100 Million Series A Round
Focused on the R&D and commercialization of direct-drive power solutions for robotics.
No Fear of a Long and Difficult Road | 5Y News Monthly
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Some people take nighttime cruises along the Qiantang River; others fly all the way to Singapore. They all have bright futures ahead of them.
A note on two investor gatherings held in September, 3,600 kilometers apart.
The unthinkable is precisely what can be thought. | 5Y News Monthly
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August: Reasons to Stay Confident | 5Y News Monthly
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MaHui Entrepreneurs | Biren Technology's Wen Zhang: The Story of China's Chip Companies Is Just Beginning
If there's a real chance to transform an industry, you have to try it — even if you lose everything.
June, Vitality | 5Y News Monthly
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5Y Capital Wins Multiple Awards at the ChinaVenture 2021 Annual Rankings | 5Y News
5Y Capital continues to seek out, support, and stand by exceptional founders.
The world begins anew each day in a light that is forever fresh. | 5Y News Monthly
The major events from last month.
The Gambler's Mirage in a Downturn: When a Fund Goes All-In on a Single Company
In the investment industry, it's as ubiquitous as air. When markets plunge, it also faces the greatest risk.
The Secret Gardens of China's Ultra-Wealthy
By Chen Zhiyan Edited by Jing Liu The Convex Lens of Human Nature In late August 2016, the sale of the DoubleTree by Hilton London finally closed:
February: When the Tiger Roars, the Wind Rises | 5Y News Monthly
The big news from last month.
2022, the Door Opens to the Future | 5Y News Monthly
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The World Rewards Those Who Stay Pure for the Long Run | 5Y Talk x SenseTime
5Y Capital congratulates SenseTime on its successful listing on the Hong Kong Stock Exchange.
How Can Tech Companies Go From "Valuable Technology" to "Profitable Technology"? | FreeS Fund
Why should tech talent avoid "walking around with a hammer looking for nails"?
December, Everything Within Reach | 5Y News Monthly
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November: Foresight and Boundless Imagination | 5Y News Monthly
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October is full of hope and fervor | 5Y News Monthly
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September, When Hope Will Break Through Like the Sun | 5Y News Monthly
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A Conversation with Qin Liu: An Investor Needs the Coolest Head and the Wildest Heart | 5Y Talk
Entrepreneurs of this era are a band of mad explorers.
Seeking Pioneers at the Frontier of Technology | 5Y Capital's 3Sigma Bootcamp Opens Global Recruitment
A collision of ideas and hands-on practice spanning technology and business — register now to join.
The past has become the future, the future has become the past, and both have become the present | 5Y News Monthly
What major events happened last month?
Morningside-backed LifeTech Scientific raises over RMB 1.2 billion in new funding round | Light Moments
China's new drug R&D is undergoing a "Cambrian explosion." The industry's underlying infrastructure for pharmaceutical innovation is one of the core sectors we're tracking in healthcare.
5Y Capital Completes First Close of New RMB Fund | Light Moments
Recently, 5Y Capital completed the first closing of its second RMB-denominated fund.
5Y Capital's Xutian Jing: ITBT Sector Has a Promising Future, Poised to Produce a New Breed of Pharma Companies with Strong Cash-Generation Capabilities | Light View
ITBT is a long game, but when it succeeds, its contribution to human society is immense.
Xpeng Motors' IPO: Key Moments We Know About | Light Moments
A new beginning, a new journey, a new chapter — congratulations to Xpeng Motors!
The Triumph of Long-Termism: Morningside Recognized with Multiple Honors in 36Kr's "Most Founder-Friendly" and "Most LP-Trusted" Awards | Light Moments
On August 26, 36Kr's 2020 China Investor Future Summit was held in Shanghai, where the 2020 investment institution rankings were released, including:
Morningside-backed XYZ Robotics closes nearly $20 million Series A+ round | Light Moments
Morningside-backed portfolio company XYZ Robotics has closed a nearly $20 million Series A+ round.
General-Purpose Intelligent Chip Designer Biren Technology Completes Major Pre-B Round Financing
Dedicated to achieving breakthroughs in domestically produced high-end general-purpose AI computing chips.
The Collision of AI and Pharmaceuticals: Galaxy Pharma Tech Raises Nearly $10 Million in Funding | Light Moments
Galixir announced the completion of a nearly $10 million Pre-A funding round. The round was co-led by Source Code Capital and DCM, with 5Y Capital participating as a follow-on investor. Gaorong Capital, the lead investor in the company's angel round, continued to increase its stake.
5Y Capital's Qin Liu and Fei Zhang Named to PEDaily's "TOP100 Investors" List | Light Moments
On August 12, PEDaily, China's professional portal for entrepreneurship and investment under Zero2IPO Group, jointly released with Zero2IPO Research the authoritative **2020 "Investment TOP100" investor ranking** — with Qin Liu, Founding Partner of 5Y Capital, and Fei Zhang, Partner of 5Y Capital, both making the list.
Morningside Partners with Agora to Launch RTE 2020 Startup Competition, Hunting for the Next Real-Time Internet Unicorn | Light View
Who will be the next unicorn in the real-time internet space? The RTE2020 Real-Time Internet Startup Challenge is waiting for you!
Tribute to the Unstoppable Force | Light View
A tribute to the unstoppable force.
Source Code Capital's Hongjiang Zhang Ranks No. 1 in China for Third Consecutive Year on Global Top Computer Scientists List
Guide2Research 2020 Global Top 1,000 Computer Scientists h-index Rankings
Jing Liu in Conversation with Li Feng: China's Economy Is Bottoming Out, Full of Opportunities
In the end, it's not about the moves — it's about the strength behind them.
Wu Minghui, Minglamp Technology: Every New Data Point Drives Business Model Iteration | FreeS Fund 2019 CEO Annual Meeting
Why haven't Chinese software and data companies made serious money?
Yi Cao: The Nine Faces of Technological Innovation
At the "2017 Impact Investing Summit" hosted by China Renaissance Alpha, Yi Cao, founding partner of Source Code Capital, shared his exclusive insights.
