Zhejiang Party Secretary Wang Hao Visits Hangzhou to Research Xi Wang's Innovative Development | Xinxing PORTFOLIO
On August 7, Zhejiang Party Secretary Wang Hao visited Hangzhou to research the innovative development of Sunrise, a Heart Capital portfolio company. He toured the company's exhibition hall and learned in detail about its recent progress in technological innovation, product innovation, and service innovation. Provincial leaders Qiu Qiwen and Liu Fei accompanied the visit.
On August 7, Zhejiang Party Secretary Wang Hao visited Xi Wang in Hangzhou — a portfolio company of Heart Capital — to survey the company's innovation and development. He toured the exhibition hall and gained detailed insights into Xi Wang's latest progress in technology, product, and service innovation. Provincial leaders Qiu Qiwen and Liu Fei accompanied the visit.
Xi Wang Chairman Xu Bing, alongside Co-CEOs Wang Yong and Wang Zhan, briefed the secretary on the company's development.
Secretary Wang Hao expressed appreciation for Xi Wang's commitment to Zhejiang and its focus on strengthening its core industrial business. He encouraged the company to actively participate in building an innovative Zhejiang, fully leverage its role as an innovation driver, deepen "university + platform + enterprise + industrial chain" partnerships and collaborative "four-topic, one-evaluation" R&D initiatives, and help build an integrated industrial and supply chain spanning R&D, manufacturing, operations, applications, and supporting services — continuously forging new drivers and advantages for development.
Xu Bing briefs Secretary Wang Hao on Xi Wang's development
Xu Bing explained that Xi Wang plans to build a "GPU industrial ecosystem" in Zhejiang. "One chip powering a hundred industries," he said, noting that Xi Wang will attract top global chip talent to Hangzhou, drive capacity expansion in wafer fabrication, memory manufacturing, and server assembly, and scale the construction of "Zhejiang Chip + Zhejiang Intelligence" token factories — lowering the cost of AI adoption, deeply empowering industries across the board, and accelerating the deployment of Embodied Artificial Intelligence and large AI models.
Secretary Wang Hao surveys Xi Wang's innovation and development
"We chose Hangzhou and put down roots in Binjiang District precisely because of the strong innovation ecosystem and industrial soil here," Xu Bing said. He added that Xi Wang will continue to focus on inference GPUs as its main strategic direction, play its part as an innovation driver, strengthen collaboration with provincial universities, research institutes, and upstream and downstream industry partners, and contribute to building an innovative Zhejiang.
Founded in 2022, Heart Capital is a venture capital fund focused on investing in early-stage Chinese technology startups.
The Heart Capital team is composed mainly of founding partners and core investors from Lightspeed China, alongside seasoned investors with deep industry backgrounds. The team's past investments include MetaX (688802.SH), Xpeng Motors (NYSE: XPEV, 09868.HK), Full Truck Alliance (NYSE: YMM), SUNMI (06810.HK), RoboSense (02498.HK), Ambiq Micro (NYSE: AMBQ), Hanshow Technology Co., Ltd. (301275.SZ), FinVolution (NYSE: FINV), HERE (NASDAQ: HERE), as well as LandSpace, MicroNano Space, Baichuan, Yunmanman Cold Chain Logistics, World Logistics, FanDeng Reading, and Lanhu.
Rooted in China with a global outlook, Heart Capital is dedicated to supporting early-stage entrepreneurial teams with the potential to become world-class Chinese technology companies. The firm champions the value of "heart," believing that technology can serve as a bridge connecting minds. Heart Capital looks forward to accompanying more young Chinese entrepreneurs onto the world stage.