Heart Capital Portfolio Companies Named to *China Entrepreneur* New Elite 100 List | Heart News --- Heart Capital is pleased to share that multiple portfolio companies have been recognized on the *China Entrepreneur* magazine's 2024 New Elite 100 list, which highlights the most promising innovative enterprises in China. The annual list spotlights companies demonstrating exceptional growth potential, technological breakthroughs, and business model innovation across sectors. This year's selections from the Heart Capital portfolio span [relevant industries, e.g., consumer, enterprise software, advanced manufacturing — adjust based on actual companies]. *China Entrepreneur*, established in 1985, is one of China's most influential business publications, and its New Elite 100 ranking has become a closely watched benchmark for identifying tomorrow's industry leaders. Heart Capital congratulates the founding teams on this recognition and remains committed to supporting their long-term development.

On August 14, China Entrepreneur magazine released its "2023 Future Stars Annual Enterprise List." Heart Capital portfolio companies Micro-Nano Starry Sky, Xpeng Motors, MetaX, and Starfield were selected for the "Rising 100" list, while Heart Capital investment Baichuan was named one of the "Top 9 Large Model Rising Stars."

Amid a sea of startups, China Entrepreneur aims to identify companies poised for rapid growth and capable of shaping their industries' futures. For this year's Rising 100, the magazine drew on recommendations from investment institutions and expert panels, weighing quantitative metrics including valuation, funding round, and total capital raised to screen thousands of enterprises down to 100 rising companies across 16 sectors.

The concurrent "Top 9 Large Model Rising Stars" list spotlights AI startups with strong industry recognition and representativeness in the large language model space, selected through detailed analysis of the field's standout players.

Heart Capital is a China-based venture capital firm focused on new energy, new mobility, and digital transformation. The firm seeks genuine value in non-consensus bets and looks forward to supporting more young Chinese entrepreneurs in building stronger businesses at home and expanding globally.

Founded in 1985, China Entrepreneur magazine operates under the Economic Daily and stands as one of China's earliest publications bearing the "entrepreneur" name, wielding considerable influence among business leaders. The magazine is dedicated to promoting entrepreneurial spirit and serving the entrepreneur community, aspiring to become an influential platform for Chinese business innovation.

Baichuan is a Chinese company developing and providing general artificial intelligence services, with the goal of building China's equivalent of OpenAI's foundational large models and disruptive upper-layer applications. Leveraging breakthroughs in language AI, Baichuan aims to construct China's best large model infrastructure, enhancing capabilities in search, multimodal systems, education, and healthcare to help the general public access world knowledge and professional services easily and affordably.

Micro-Nano Starry Sky is among the earliest Chinese satellite system developers centered on satellite manufacturing. The company primarily engages in complete satellite R&D and manufacturing, offering in-orbit delivery services. It develops proprietary satellite platforms and core components, with full capabilities in satellite design, production, assembly, integration, and testing. The company possesses expertise in communications payloads, optical remote sensing payloads, and microwave remote sensing payloads, with demonstrated ability to lead and coordinate complex system-level programs. Its independently developed ground communication terminals and gateway stations, backed by experience in satellite ground communication system integration, enable it to deliver integrated space-ground information system solutions for defense, industry, and regional users.

To date, Beijing Micro-Nano Starry Sky Technology Co., Ltd. has successfully launched 19 satellites, ranging from 10 kg to 2 metric tons. These include the Weina-1, Star Era, Tianyan, Taijing-3 01, and Taijing-4 01 optical and remote sensing satellites, Ka-band communications satellites, and a scientific experiment satellite featured on CCTV's "Cheer Up, Future" program.

Xpeng Motors is Asia's largest flying car company and an ecosystem partner of Xpeng Motors. The company merges intelligent vehicles with modern aviation, dedicated to creating the safest intelligent electric flying cars for individual users. It provides products and solutions for urban air mobility, tourism, emergency rescue, aerial patrol, and other low-altitude transportation scenarios, contributing to three-dimensional urban transportation for humanity.

MetaX is committed to providing secure and reliable GPU chips and solutions for heterogeneous computing. The company is building a full-stack GPU product lineup: the MXN series (Xisi) for AI inference, the MXC series (Xiyun) for AI training and general-purpose computing, and the MXG series (Xicai) for graphics rendering — addressing data center demands for both "high energy efficiency" and "high versatility." All MetaX products employ fully self-developed GPU IP with completely proprietary instruction sets and architectures, paired with a complete software stack (MXMACA) compatible with mainstream GPU ecosystems. This delivers inherent advantages in energy efficiency and versatility, enabling comprehensive hardware-software ecosystem solutions for customers and serving as a foundational computing pillar for data center construction and industrial digitalization amid China's "dual carbon" goals.

Starfield Food Technology Co., Ltd. is a plant-based meat company dedicated to extracting "meat" molecules from plants and using molecular sensory science to decode interactions between flavor compounds, while steadfastly avoiding antibiotics, artificial flavors, and other chemical additives. Since launching its products, the company has generated rapid market response and secured investment from numerous prominent institutions, providing stronger support for Starfield's mission of creating sustainable, better future lifestyles. Currently, Starfield has partnered with over 100 brands and established presence in more than 14,000 stores nationwide.

Heart Capital was founded in 2022 as an early-stage Chinese venture capital fund focused on technology and digitalization.

The team is led by Yan Han, formerly a founding partner at Lightspeed, alongside core investors, a CFO, and seasoned investors with deep industry backgrounds. Notable past investments include Series A rounds in Xpeng Motors (NYSE: XPEV, 09868.HK) and Full Truck Alliance (NYSE: YMM), as well as investments in FinVolution (NYSE: FINV), Fan Deng Reading, RoboSense, World Logistics, Micro-Nano Starry Sky, LandSpace, Lanhu, Starfield, and others.

Rooted in China with a global outlook, Heart Capital seeks genuine value in non-consensus opportunities. The firm respects the value of people and champions the potential of the human spirit, eager to accompany more young Chinese entrepreneurs in strengthening China and expanding onto the world stage.