Rongbao | Power Semiconductor, Robotics Firms "Steer" Tech Upgrades, AI Applications Make Major Debuts

About Rongbao

Time moves forward, and so do we. We keep capturing emerging vitality, discovering value worth creating; seeing how new technologies like robotics and power semiconductors penetrate industries, and how AI transforms our lives. This month's Rongbao continues to showcase how Gaorong Ventures portfolio companies embody the meaning of "exploration."

Oct

Funding

Jingneng Microelectronics Completes 500 Million Yuan Series B Round, Continues Developing High-Reliability Power Semiconductors

On October 25, Zhejiang Jingneng Microelectronics Co., Ltd. ("Jingneng") completed a 500 million yuan Series B round led by Xiuzhou Linghang Fund — the company's fourth financing round overall. Gaorong Ventures participated in Jingneng's Pre-A round in 2022 and led its Series A in 2023.

Jingneng is a power semiconductor company under Geely Group, focused on developing high-reliability power semiconductor products. Backed by Geely's global industrial resources, Jingneng has built an industry-leading R&D and manufacturing system. The company stays user-centric and technology-focused, offering differentiated, customized solutions spanning materials, chips, and modules.

The company currently operates three intelligent production bases in Yuhang, Wenling, and Xiuzhou, equipped with advanced equipment and top talent from global sub-sectors. It has successfully developed and deployed dozens of chip and module products including Si-based MOS, IGBT, FRD, and SiC-based MOS. Its products serve new energy scenarios including electric vehicles, wind/solar/storage/charging, and robotics. Read more

Shilv Technology Completes 100 Million Yuan Series A Round, Building an AI-Driven Next-Generation Travel Platform

Recently, Shilv Technology officially announced the completion of its Series A round, with investors including Shenzhen Media Yiben Fund, Guangzhou City Investment Group's Guangdong-Hong Kong-Macao Greater Bay Area Cultural Industry Investment Fund, Gaorong Ventures, Youshan Investment, and Zhonghu Yakang (the investment platform of Yakang). The total financing exceeded 100 million yuan.

Shilv Technology is an AI-driven travel product internet company co-founded by former Alibaba VP and Fliggy founder Li Shaohua, among others. It secured a 100 million yuan angel round at inception with participation from Gaorong Ventures, K2VC, and others.

The Shilv team focuses on building an "AI-driven next-generation travel platform." In May 2023, it released VtripGPT, China's first large language model for the travel sector. By March 2024, VtripGPT became the first travel industry LLM to pass regulatory review and filing with the Cyberspace Administration of China and other authorities.

In terms of real-world applications, Shilv's AI-native travel products based on VtripGPT and its end-to-end destination intelligent operations system now cover more than ten domestic and international destinations including Hong Kong, Singapore, Sichuan, and Yunnan. Annual user volume is expected to exceed 3 million this year, with Hong Kong and Sichuan each surpassing 500,000. Read more

Oct

By the Numbers

Geekplus Partners with Intel to Launch World's First Pure Vision Robot Solution

Recently, Geekplus partnered with Intel to release the world's first pure vision robot solution powered by Intel's visual navigation module.

The solution leverages Intel RealSense cameras for deep visual perception and introduces deep algorithmic innovations in V-SLAM positioning, composite detection networks, and robot following — achieving highly accurate positioning, navigation, and obstacle avoidance.

Building on this collaboration, Geekplus's pure vision robots ensure precision and efficiency in environmental perception, positioning, and tracking, helping logistics and warehousing providers advance smart logistics transformation. These robots are expected to see broad application in factory and warehouse transport, enabling customers to build digitalized, intelligent, and agile supply chains.

Biren Technology Achieves New Breakthroughs in Kilocard Training Clusters, Nearly Doubles LLM Training Performance

As demand for intelligent computing power multiplies, kilocard computing clusters have become essential for large model training in China. Recently, Biren Technology — one of the few domestic vendors with original training-inference integrated architecture for high-end computing chips — partnered with Infinigence AI on R&D collaboration in kilocard training clusters and large model inference services.

Through joint R&D, the two parties successfully integrated and scheduled Biren Technology's kilocard-scale training cluster on Infinigence AI's Infini-AI heterogeneous cloud platform, fully implementing and validating four key capabilities: elastic fault tolerance, abnormal node detection, checkpoint save/load, and breakpoint resumption.

Meanwhile, through optimizations at the parallel strategy and compute acceleration layers, the two parties nearly doubled LLM training performance on Biren Technology GPUs.

For large model inference services, Biren Technology's newly released Bili 110E inference card delivers AI compute density up to 1.3x that of mainstream market cloud PCIe 8-card server solutions at the same rack height, with 70% energy savings that significantly reduce total cost of ownership.

Huayi Quantum: Academician Duan Luming Wins 2024 International Quantum Award, Achieves Quantum Simulation with 300 Ion Qubits

Recently, Huayi Quantum founder Academician Duan Luming received the 2024 International Quantum Award, becoming the second Chinese physicist after Pan Jianwei to receive this honor.

The award was formally presented at the 16th International Conference on Quantum Communication, Measurement and Computing (QCMC), recognizing his outstanding contributions to quantum information — particularly the DLCZ (Duan-Lukin-Cirac-Zoller) quantum repeater scheme for long-distance quantum communication, the Duan-Kimble scheme for scalable quantum computing, and his recent Nature publication on the largest-scale ion quantum simulation experiment using a two-dimensional ion crystal containing 300 ion qubits.

Held biennially, QCMC is a premier, large-scale, and long-standing academic conference in quantum information science. The International Quantum Award, established by QCMC in 1996 and presented every two years, honors scientists who have made distinguished contributions to quantum communication, quantum measurement, and quantum computing research.

Moonshot AI Releases Kimi Explore: 10x Search Volume, "The Best Search Is the One You Don't Have to Do Yourself"

On October 11, Moonshot AI released Kimi Explore. The feature enables AI-powered autonomous search, simulating human reasoning processes to decompose complex problems, execute deep searches, and reflectively improve results in real time — delivering more comprehensive and accurate answers to help users efficiently complete complex tasks like analysis and research.

Kimi Explore processes 10x the search volume of the standard version, with a single search capable of deeply reading over 500 pages. Testing showed that compared to all mainstream domestic and international AI assistants and search products (including paid and professional versions), Kimi Explore demonstrated comprehensive advantages in answer accuracy and completeness, with overall performance exceeding comparable products by at least 30%.

Through autonomous planning strategies, automated large-scale information retrieval, and real-time reflection on search results, Kimi Explore aims to save users time spent on search and research tasks — freeing up more time for asking questions, thinking, and creating.

LiblibAI Opens New Image Generation API, Supports Popular F.1 Model with Subscription Plans Starting at 10 Yuan

Recently, LiblibAI announced the opening of its image generation API with ultimate graphic quality, offering multiple image models.

This includes the flagship F.1 model that has attracted widespread attention recently, delivering ultimate image quality capable of generating photorealistic visual effects. The model balances output speed and image excellence, enabling easy creation of professional-grade work without complex controls — suitable for photography, illustration, and other creative directions.

The classic XL model provides a versatile solution for broad needs, adapting to multiple creative scenarios with economical, efficient image generation.

Custom models support flexible selection and combination of on-site models and LoRAs, ideal for scenarios requiring high freedom and precise control to ensure outputs match intended results.

LiblibAI has also introduced multiple API subscription plans for creators and developers, with the basic API plan starting at 10 yuan and the standard API plan at 2,000 yuan/year — capable of generating approximately 22,000 images.

LiblibAI API Open Platform: https://www.liblib.art/apis

Blokees Debuts Multiple New Products at China Toy Expo, Secures 30+ Licensed IPs and Advances Globalization

On October 16, Blokees appeared at the 22nd China International Toy Expo (CTE), bringing products spanning original, Japanese, and American IPs. Under its new "all demographics, all price points, global" strategy for block figures, Blokees continues innovating categories, committed to creating globally leading "fun products."

As of May 2024, Blokees has secured licenses for over 30 well-known IPs including Ultraman, Transformers, Naruto, and Marvel's Infinity Saga. Its original IP products — Hero Infinity block figures and Bloko block figures — have also gained strong user affinity upon launch, unlocking the potential of Chinese culture and original IPs.

In channel development, as of March 2024, Blokees has established industry-leading offline distribution through retail and specialty outlets in China, covering over 140,000 offline points. Online channels cover major e-commerce platforms and Blokees' own WeChat mini-program. The company is actively expanding overseas, entering multiple countries and regions including the US and Southeast Asia, with sales through online and offline channels including Amazon, Toys "R" Us, and 7-Eleven.

Haijieya AI+ Liver CT Image Processing Software Approved, First in Beijing

Recently, Haijieya Medical's self-developed deep learning AI-assisted liver CT image processing software received approval from the Beijing Medical Products Administration and officially launched. This is the first Class II AI medical device product approved in Beijing specifically for liver CT image processing, and represents important progress for Haijieya Medical in the tumor interventional therapy field.

The software was specifically developed for preoperative image analysis in liver tumor ablation procedures, using efficient and precise automatic liver and vessel segmentation technology to further improve clinical diagnosis and treatment efficiency and accuracy.

Based on deep learning algorithms, the software achieves high-precision automatic segmentation of the liver and surrounding vessels — improving segmentation accuracy several-fold over traditional manual methods. Trained on extensive clinical data, it precisely identifies the liver and its complex vascular network, ensuring segmentation accuracy while adapting to anatomical variations across different patients. This effectively reduces potential human error, ensuring precise localization of key lesions and vessels in surgical planning, and providing more reliable imaging support for clinical treatment.

Inmabio's Recombinant Botulinum Toxin Type A Phase III Clinical Trial Achieves Comprehensive Success

Recently, Inmabio announced that its holding company Yuyan Pharmaceutical has successfully completed its Phase III clinical study (code YY001-001) of independently developed recombinant botulinum toxin type A for injection for the treatment of moderate to severe glabellar lines, with global intellectual property rights.

Data showed that YY001 demonstrated high consistency with completed Phase I/II results in this large-population Phase III trial; its efficacy, safety, and immunogenicity all met predetermined clinical endpoints, performing excellently compared to the control drug. This clinical success marks a major milestone in the global botulinum toxin field for the leap from natural to recombinant botulinum toxin.

Yuyan Pharmaceutical's recombinant botulinum toxin type A avoids the biosafety risks of traditional production methods using Clostridium botulinum, without altering protein activity. Combined with its innovative triple-filtration technology, the product achieves high purity, high specific activity, and significantly improved response rates — regarded by the industry as a next-generation botulinum toxin.

Meanwhile, Yuyan Pharmaceutical recently achieved successful enrollment of the first subject in its Phase II clinical trial of recombinant botulinum toxin type A for treating adult upper limb muscle spasticity — the first global application of recombinant botulinum toxin type A in the medical field.

Oct

Horizons

Eight Years Focused on B2B Cross-Border Payment Collection: XTransfer Makes SME Foreign Trade Faster, Cheaper, More Convenient, and More Secure

Anycubic Launches New 3D Printer Photon Mono 4, Making Creation Cooler and More Fun

Oct

Recognition

Recently, 36Kr released its 2024 China Industrial Investment Fund rankings, with Gaorong Ventures named to the TOP20 China AI Industrial Investment Funds list.

In Cyzone's 2024 Most Admired Venture Capital Institutions rankings, Gaorong Ventures received: TOP10 Most Admired VC Institutions, TOP5 AIGC Sector VC Institutions, TOP10 Biotech Sector VC Institutions, TOP5 Going-Global Ecosystem VC Institutions, and TOP30 Intelligent Manufacturing Sector VC Institutions.

Oct

Ronghui

In October, Ronghui organized capital acceleration events for portfolio companies. On October 12, Jie Chen, CICC's Global Head of M&A and Managing Director, together with CICC's investment banking M&A team, provided interpretation of the latest "M&A Six Measures" policy, analyzing market hot topics including new quality productive forces, cross-industry M&A, and acquisitions of unprofitable assets, with further analysis of implications for innovative enterprises and VC institutions.

On October 24, Ronghui invited experts from the Beijing Stock Exchange (BSE) market department and Hehe Xing, CICC Investment Banking VP, to share the latest BSE policies and listing standards, as well as practical paths for "specialized, refined, distinctive, and innovative" enterprises to go public — helping innovative companies seize BSE opportunities.