Xing Wang
王兴
The closest match in elsewhere's corpus is Xingxing Wang (王兴兴), founder of Unitree Robotics — note the entity card for Meituan founder Wang Xing (王兴) is a different person. Xingxing Wang built his first quadruped robot, XDog, single-handedly during his 2013–2015 master's program — hardware, control algorithms, the lot, on almost no budget — winning second prize in a Shanghai robotics design competition three years before MIT open-sourced its own robot-dog algorithms . After a brief three-month stint at DJI, he took a 2 million RMB angel check in 2016 and founded Unitree, serving as both CEO and CTO . The early years were lean: his first institutional round only came in 2018 — 2 million RMB from Geekpark's Variable Capital — and at one point he paid salaries out of his own pocket, since he fit none of the VC imagination (no elite PhD, no overseas background, an unproven category) . The turn came after Unitree's robot dogs hit the CCTV Spring Festival Gala in 2021 and the Go1 dropped to 16,000 RMB; by the B2 round just before the 2024 Spring Festival, Meituan, CICC's GoldStone and Source Code Capital were all piling in, and per elsewhere's own exhibition marking its IPO, Unitree had flipped from "what's a robot dog even for" to "who can still get allocation" . His method, per a 源码资本-published interview, is unglamorous: "If you think about a problem 24 hours a day, I don't believe there's any problem that can't be solved" .
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Coverage
The Full Story of Alibaba's Investment in Moonshot AI
Game Changer.
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Pessimists are often right, but only optimists succeed. The pessimist's angle is: "Oh god, what am I going to do?" The optimist's angle is: "Wow, all roads lead to Rome."
Hello, the Great Age of AI Entrepreneurship — Pony Ma, Yiming Zhang, and the Day 0 Moment of 21 People
The era rewards those who bravely take half a step forward through the fog of Day 0.
A long essay Xing Wang recommended back in 2012 — perfect timing to read it now
What actually transcends time?
2026 AI Year-Opener: The Year of R | A Conversation with Yusen Dai of ZhenFund
History rewards those who take the first small step into the fog.
Xiaohongshu Is Looking for Five Young "Self-Styled Visionaries" — Here's What They're Offering
Be ambitious, be hungry, believe you're destined for greatness.
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The only way to change the script is to change yourself.
Wang Hua's Latest Prediction: The Biggest Difference Between the AI Era and the Mobile Internet Era Is Fulfillment, Not Connection
The first year is the golden window to capture the first-mover advantage on model dividends — start building now.
Qiming Weekly | Qiming Venture Partners Portfolio News and Updates Vol. 16, 2025
Celebrating milestone moments with Qiming Venture Partners' portfolio companies
Multiple Qiming Venture Partners Portfolio Companies Win Touzijia 2025 Robot Industry Conference Gold Flint Awards
The award aims to uncover companies and entrepreneurs in the robotics industry who dare to take on challenges and strive for success against adversity.
Qiming Venture Partners Weekly | Portfolio Company Updates and Funding News Vol. 12, 2025
Staying with you through the milestone moments of Qiming Venture Partners' portfolio companies
Qiming Venture Partners Portfolio Companies Dominate 2024 Tech High-Growth and Best CEO Rankings
The list aims to identify outstanding companies in China's tech sector that have captured capital market attention while earning recognition from customers and the market — high-tech, high-growth ventures with strong teams, solid reputations, and cross-cycle resilience. It also seeks to honor the best CEOs and best young CEOs who possess international vision, industry insight, and leadership capabilities to steer their enterprises into a new era.
ZhenFund's Yusen Dai: A Guide to Entrepreneurship, Investing, and AI for Young People
Abundant energy, an intense desire for success, and a fearless spirit of innovation.
2025 New Year Conversation with Koji: AI's Pivotal Year, the Dawn of the Agent Era | Seriously Speaking EP35
Stay optimistic about AI.
AI in China ④: "My Interviewer Isn't Human? Isn't Human!" | A Conversation with Gongjun Liang: Founder of Hina AI
10 Facts About 1,000 Chinese Billionaires
The currents of the era, all contained within the sequence.
The VC 2.0 generation celebrated its tenth birthday in early autumn.
What about the next decade?
Source Code Capital at Ten | Venture Capital Is the Art of Balancing Reality and Optimism
Right now, we need confidence — but even more, we need resilience.
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We believe the best way to understand an industry is to understand what the people in it are actually doing.
Goodbye to a Decade of Venture Capital | Waves' Second Anniversary
Keep moving forward. Don't look back.
Code Brain | How Do Founder-CEOs Understand "Courage"?
Code View | *China Enterprises* Exclusive Interview with Xingshi Wang, Managing Partner of Source Code Capital: Finding Certainty in an Uncertain Era
The criteria for what makes a good company have become more diverse, making it harder for investment firms to evaluate them.
Exclusive | The General-Purpose LLM Startup Wave: The First Battle Is About to End
Contestants, take your positions.
Silicon Valley Bank, a fixture in venture capital for four decades, couldn't survive 40 hours of market panic.
China's venture capital world had a night of shock and panic.
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:
How to Build Your Corporate Brand Strategy from 0 to 1 | FreeS Talk
"Different" beats "better."
Gaotu Techedu Co-founder Lü Weisheng: The Top Trait He Looks for Is 'Drive,' and Winning Battles Is the Best Team Building | Ronghui
How do you identify the right people when building a startup? How do you lead a team to win?
Two Portfolio Companies Close Funding Rounds, Four Achieve Strategic Upgrades, and Two Rank First on Global Top Lists | Source Code Capital Community · February
"Ma Hui Notes" chronicles the small steps forward of our community members, shares in the joy of their growth, and looks toward an even brighter future.
Source Code Capital and Portfolio Companies Win Multiple Awards at 36Kr's 2018 "King of New Economy"
The King of the New Economy — let us see the future.
Niu Technologies IPO Lands on Nasdaq; 3 Companies Close Funding Rounds; Code Brain Issue 8 Mines India | Code Brain Newsletter · October
【Source Code Capital Newsletter】Here we record the small steps forward taken by our team members, share the joy of growth, and look forward to an even brighter future.
The Fourth Annual Ma Hui Conference Successfully Held, CEOs Gather to Share Entrepreneurship Insights, Four Companies Announce Completed Financing Rounds | Ma Hui Journal · April
**Source Code Capital Newsletter:** Here we record the small steps of progress made by our team members, share the joy of growth, and look forward to an even brighter future.
6 Companies Close Funding Rounds, 2 Make Latest Global Unicorn List | Source Code Capital Monthly · January
【Ma Hui Journal】A place to record the small steps forward, share the joy of growth, and look toward an even brighter future.
Ma Hui: Entrepreneurs' 2017 and 2018
The Founder's New Year's Intellectual Marathon
3 Companies Secure Additional Funding, 1 Lists on NYSE, 6 B2B Firms Win Multiple Awards | Source Code Capital Monthly · October
**Ma Hui Journal:** A place to record the small steps forward of our community members, share in the joy of growth, and look toward an even brighter future.
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**Source Code Capital Chronicle** — documenting the small steps of progress among our community, sharing the joy of growth, and looking forward to an even brighter future.
World Internet Conference Opens; Source Code Capital Named New Investor of the Year
Source Code Capital was named to the "Top 30 Emerging Investment Firms of 2016" list in Wuzhen.
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On November 3, we'll be waiting for you at Tsinghua University's PBC School of Finance.
Yi Cao Named to ChinaVenture-FT China Top 100 Investors of the Year 2016
On August 15, 2016, ChinaVenture held its "2016 China Investment Annual Conference" in Shenzhen, where it also released the "ChinaVenture 2016 Best Chinese Investors" list.
President of Meituan's Food Delivery Business Group: How an Internet Operations Iron Army Is Forged | Source Code Capital Masterclass
Operations really just comes down to doing the right things over and over again — and doing them better than 99% of other people.
"Ma Hui 2016": Xiang Li on CHJ Automotive for the First Time — Reshaping Urban Mobility
On the second day of the Ma Hui event, Source Code Capital LP Xiang Li shared for the first time his new entrepreneurial venture: he's building cars. From R&D and manufacturing to sales and service networks, Li is redefining the future of the auto industry.
"2016 Source Code Capital Summit" — Yiming Zhang: Why I Don't Agree With Controlling Headcount Costs
From April 21 to 23, 2016, the Source Code Capital "Ma Hui" community gathered at Gubei Water Town — a "Jiangnan-style waterside town" at the foot of the Great Wall. At the event, ByteDance CEO Yiming Zhang shared his insights on the talent challenges facing growing companies, covering recruitment and human capital management in comprehensive detail.
Source Code Capital Named to 2015 China Best Foreign Venture Capital Firms Top 50
From April 11 to 13, 2016, ChinaVenture hosted the "2016 China Investment Annual Conference" in Shanghai, where Source Code Capital was named to the "2015 Top 50 Best Foreign VC Firms in China."
China Internet Finance Association Officially Inaugurated; Source Code Capital Elected as Council Member
On the morning of March 25, the China Internet Finance Association held its inaugural meeting in Shanghai. Four investment institutions were selected as council members of the association, with Source Code Capital among those honored.
[Wuzhen] Source Code Capital's World Internet Conference Trip
The Second World Internet Conference opened on December 16 in Wuzhen, a waterside town in Jiangnan. Yi Cao, founding partner of Source Code Capital, was invited by the organizers to attend the event. Meanwhile, *Beijing News*, the conference's sole officially designated publication, named Source Code Capital the "Best Emerging Investment Firm of 2015."
【Source Code Capital Exclusive Video】Joining Source Code Capital in 2015, Entering the Inner Circle of the Internet
Source Code Capital hopes to be a growth partner for more founders. Wishing every entrepreneur ever-greater courage and fresh fortune in the new year!
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