What's New at Qiming
• Qiming Venture Partners recently held the 16th Annual RMB Fund Meeting and Investor Summit in Shanghai.
Founding Managing Partner Duane Kuang delivered the opening address, reflecting on Qiming’s key developments over the past year and sharing his perspectives on the current investment landscape. He emphasized the importance of continuous evolution within Qiming.
Duane also expressed the view that Chinese assets have been undervalued in recent years. Following a period of market adjustment, he believes many high-quality Chinese companies are now reaching high valuations.
• The Qiming Venture Partners Rural Revitalization Entrepreneur Support Program – 2025 Industrial Entrepreneur Development Forum was recently held in Chengdu, Sichuan Province.
Yi Zhang, Partner, China COO and General Counsel at Qiming Venture Partners, delivered remarks at the event, outlining the origin and vision of the program. He noted that the initiative was jointly launched by Qiming Venture Partners and the China Foundation for Rural Development, with the goal of leveraging their respective strengths in venture capital and public welfare to provide sustained support for rural entrepreneurs.
Yi Zhang also shared that Qiming plans to introduce industrial and technological resources from its portfolio companies to explore the integration of cutting-edge technologies with rural development scenarios, ultimately helping rural entrepreneurs broaden their horizons and accelerate growth.
• During the 2025 China Development Forum, Yicai spoke with Duane Kuang, Founding Managing Partner of Qiming Venture Partners, to discuss the global outlook for Chinese technology.
Duane emphasized, “Now is the time for Chinese technology to go global. What we are seeing is only the beginning. Globally, few regions can match China’s combination of deep talent pools and a vast domestic market—an environment where technology companies can bring products to market quickly, experiment, and iterate. I believe this trend will continue to gain momentum in the years ahead.”
• At the 2025 Global Investor Conference hosted by the Shenzhen Stock Exchange, Duane Kuang, Founding Managing Partner of Qiming Venture Partners, highlighted the growing global recognition of Chinese technology products and companies. He emphasized that China now has both the potential and opportunity to build world-class technology companies, making the outlook highly promising.
Duane also noted the vital role China’s venture capital industry will play in this journey. Venture capital firms, with their tolerance for high risk and focus on long-term value, embody an entrepreneurial spirit that drives support for technological innovation. By fostering a closed innovation loop—from capital injection to sustainable growth—these firms are able to engage deeply in the development of startups. Additionally, they can identify the most promising entrepreneurs and breakthrough innovations.
• At the 19th ChinaVenture Investment Conference Annual Summit, Dr. Kan Chen, Partner and Healthcare Co-Lead at Qiming Venture Partners, presented on “The Changing and Unchanging Dynamics of the Biopharmaceutical Industry in the AI Era.” He discussed the two major phases of AI application development in biopharma and outlined Qiming’s comprehensive investment approach in this space.
Dr. Kan Chen also explored how AI is reshaping across key stages of drug development, including target discovery, molecular design, preclinical studies, and clinical trials.
Looking forward, he emphasized that the industry’s strategic priorities will focus on fostering collaboration through investments and partnerships, attracting and developing AI talent, and building advanced AI R&D platforms. He also underscored the critical importance of data quality, privacy protection, and security management in successfully advancing these efforts.
Portfolio Highlights
Portfolio ESG
• ROX Motor has entered a partnership with Emirates Nature–WWF. As part of this collaboration, ROX Motor has donated two ROX 01 vehicles to support WWF teams in reaching remote regions, enabling effective on-the-ground conservation work.
• InferVision has brought life-saving tuberculosis screening to vulnerable communities in Pakistan. Its InferRead DR Chest system operates entirely on battery power, enabling over 200 X-rays to be taken and analyzed without recharging.
Financing
• Pulnovo Medical, a globally recognized pioneer in medical devices for pulmonary hypertension (PH) and heart failure (HF), has received new investment with continued support from Qiming Venture Partners.
• AusperBio has completed an oversubscribed US $50 million Series B+ financing round. Qiming Venture Partners participated in the Series A, Series B, and Series B+ rounds.
Technology & Consumer
• WeRide (NASDAQ:WRD) has signed an expanded strategic cooperation agreement with Tencent Cloud to support WeRide's autonomous driving R&D efforts, Robotaxi commercialization, and expansion into international markets.
WeRide and Uber announced a significant expansion of their previously announced strategic partnership, adding 15 additional cities globally over the next five years, including in Europe.
The company launched fully driverless Robotaxi trials in Abu Dhabi, the first deployment of its kind in the Middle East. Service will soon expand to two high-demand islands in Abu Dhabi.
WeRide has introduced eight autonomous Robotaxi pilot operation routes in central Guangzhou, establishing China's first 24-hour autonomous ride-hailing network covering the core areas of a Tier 1 city.
The company received the first batch of driverless road testing licenses in Guangzhou from Nansha District, authorizing its Robovan W5 for public road testing.
WeRide announced its expansion into Saudi Arabia, launching Robotaxis and other autonomous driving products in cities like Riyadh and AlUla, paving the way for commercial rollout and wider operations across Saudi Arabia.
Tony Han, Founder and CEO of WeRide, joined CNBC's Squawk Box Asia to discuss WeRide's expanded partnership with Uber to launch Robotaxi services in 15 cities in the next five years and shared insights on deployment strategy.
• Hesai Technology (NASDAQ:HSAI) has secured an exclusive production partnership with ORA, Great Wall Motor's new energy vehicle brand. The lidar-equipped ORA model is set for mass production and delivery later this year.
Li Auto's updated L series now features ATL all-weather lidar from Hesai Technology. ATL is 60% smaller and lighter, with higher resolution and enhanced safety for advanced driver-assistance systems.
• DeepWay has signed a distribution agreement and secured its first batch of orders in Australia—its fourth Asia-Pacific market after Singapore, Thailand, and Malaysia—marking a major step in its global expansion.
The company has launched two new energy heavy trucks with proprietary battery, motor, and electronic control systems and L2 driver assistance systems. The company secured 1,403 orders in China within 14 days and 870 internationally.
• ROX Motor has partnered with W Motors, Enercap Energy, and Borouge to localize ROX 01 production in the UAE, build a battery ecosystem, and co-develop EVs for both city streets and desert terrain.
• Marvel-Tech and the National University of Singapore (NUS) Centre for Hydrogen Innovations (CHI) officially signed a contract to jointly develop a new generation of ammonia cracking technology suitable for gas turbine applications.
• At the World Expo in Osaka, Chuhang Technology signed a strategic partnership with Malaysia's MCE Technologies Sdn Bhd to establish a joint venture in Malaysia to co-invest in the development of a millimeter-wave radar production line.
The company has also entered into a strategic technology partnership with India-based Sterling Tools Ltd. to jointly advance the application of millimeter-wave radar technology in advanced driver-assistance systems.
• SUPERHEXA has entered into a partnership with leading Jilin optical company Wang Peng Optical. As part of this collaboration, SUPERHEXA's flagship AI Audio Glasses will be rolled out across Wang Peng Optical's key retail locations.
The company also announced that its smart glasses brand has partnered with Beijing Daming Optical. They will launch the world's first interactive, immersive experience space to showcase the applications of SUPERHEXA's AI-powered audio glasses.
SUPERHEXA has introduced three new smart eyewear models: the ultra-light Pure Titanium Wellington, the stylish Square Cat-Eye, and the versatile Magnetic Clip-On with UV400 protection.
• Tuhu Car (SEHK:9690) has partnered with Osram to launch new flagship dashcams, including vehicle-specific models. Exclusively available through Tuhu Car's online channels, these solutions enhance driving safety and the overall experience.
• Mech-Mind Robotics announced the official opening of its Munich Showroom & Training Center in Germany, which boosts support for customers across Europe, especially in Germany, and accelerates the deployment of AI and robotics technologies at scale.
At Automate Show 2025, Mech-Mind Robotics showcased its latest embodied intelligence technologies and a dozen AI-powered robotics solutions across industries like automotive manufacturing, metal processing, logistics, and quality inspection.
• Viaim has launched two AI meeting earbuds. One is office-focused with AI-generated meeting titles and semantic analysis, while the other offers ultra-light comfort and offline storage for impromptu meetings.
• At the 29th China Beauty Expo in Shanghai, Spēs unveiled a new flagship product featuring core technology designed to nourish the scalp and hair follicles at the dermal level during its "Peptide Scalp Care" Technology Launch Event.
• At The smarter E Europe, HyperStrong (SHSE:688411) showcased energy storage solutions, forged new EU partnerships, and earned TÜV Rheinland certification for its 5MWh AC/DC energy storage systems covering Europe, America, and Australia.
• Cubenergy showcased its innovative energy storage solutions at The smarter E Europe. Highlighting the PowerCombo system, the team demonstrated its safety, flexibility, and efficiency for both grid-side and industrial/commercial use.
• SPEEDIANCE showcased its smart fitness solutions, including Gym Monster 2 and VeloNix, at China Sport Show. The highlight was SPEEDIANCE WELLNESS+, which features real-time tracking, intelligent analysis, and personalized training.
• DST released its Intercity Scenario Solution, aimed at accelerating electrification and digital transformation of intercity logistics.
Healthcare
• Gan & Lee Pharmaceuticals (SHSE:603087) signed a cooperation commitment for the Brazilian National Public Health System's Key Project PDP with the Brazilian Ministry of Health and Biomm, becoming the first Chinese pharma on the PDP project list.
Professor Tim Heise, Lead Scientist, Chair, and Co-founder of Profil, and advisor to Gan & Lee Pharmaceuticals, delivered a keynote on early-stage insulin development strategies aimed at advancing and translating cutting-edge technologies.
• ArkBio has expanded its strategic collaboration with Partex to co-develop and out-license AK0658, a preclinical ATR inhibitor with best-in-class potential, building on their earlier collaboration on AK0707.
The company announced positive Phase 2 results for AK3280, a novel anti-fibrotic drug for idiopathic pulmonary fibrosis. Results show improved lung function and a strong safety profile, positioning it as a potential future standard of care.
• DP Technology and Geely announced the launch of a joint "New Energy + AI" lab. This collaboration marks the first time that AI and molecular simulation technologies originally developed for biopharma are applied to power battery R&D.
The company has launched the Bohrium® Edu Research Acceleration Program, an AI for Science solution empowering universities and research institutions with vast data and tailored solutions across materials science, life sciences, and more.
DP Technology has partnered with Sinopep to drive AI transformation in biopharma—building an intelligent CRDMO system and deploying AI engines via the Bohrium® platform to optimize data and operations.
• MediLink Therapeutics has partnered with Union Hospital, Tongji Medical College, Huazhong University of Science and Technology to advance translational medicine and drive innovation in pharmaceuticals, healthcare, and digital technologies.
The company has received Investigational New Drug (IND) approval from the Center for Drug Evaluation of China's National Medical Products Administration for its novel ADC YL217, following earlier clearance from the US Food and Drug Administration. YL217 is the 11th clinical-stage ADC developed via its proprietary TMALIN® platform.
The company announced that YL242 has received Investigational New Drug (IND) clearance from the US Food and Drug Administration and has been accepted by the Center for Drug Evaluation of China's National Medical Products Administration.
At the 2025 American Association for Cancer Research Annual Meeting, MediLink Therapeutics presented new preclinical data on YL217 and YL242, along with its next-generation dual-payload antibody-drug conjugate platform.
• Tigermed (SZSE:300347, SEHK:3347) announced that its subsidiary TeddyLab has partnered with LabConnect to support clinical trials in China for multinational pharmaceutical companies and help Chinese biopharma expand internationally.
• Sino Biological (SZSE:301047) has launched a joint lab with the Guangdong Provincial Institute of Public Health to leverage digital intelligence to tackle critical challenges in public health and biopharmaceutical research.
• Boohee has partnered with MEDMOTION to deliver professional, science-based weight management services, supported by a team of certified rehabilitation specialists and a robust sports medicine assessment system.
• Belief BioMed announced that it has received China's National Medical Products Administration implied approval of an Investigational New Drug (IND) application for BBM-P002, the company's Parkinson's Disease gene therapy candidate.
• CanSino Biologics (SEHK:6185, SHSE:688185) has received clinical trial approval from the Indonesian Food and Drug Authority (BPOM) for its inhaled tuberculosis vaccine (adenovirus type 5 vector-based).
• Insilico Medicine has published a new study in Nature Communications—its 3rd AI-driven drug discovery study in a Nature journal since 2025. The study highlights ISM5939, a highly specific oral ENPP1 inhibitor.
• Xellsmart has received full approval in China for Phase 1/2 trials of XS228 Injection—an off-the-shelf, allogeneic, iPSC-derived neural cell therapy for ALS. The trial will be led by Dr. Dongsheng Fan at Peking University Third Hospital.
The company has also received full approval from China’s National Medical Products Administration and the US Food and Drug Administration for clinical trials of its first-in-class, off-the-shelf, allogeneic, iPSC-derived neural cell therapy for the treatment of spinal cord injury, a severe neurological disease.
Notably, Xellsmart achieved breakthroughs in universal cell therapies. The company's iPSC-derived cell therapies have secured seven clinical trial approvals from China's NMPA and the US FDA, targeting central nervous system diseases.
• AusperBio announced the presentation of end-of-treatment clinical data from its ongoing Phase 2b trial of AHB-137 in a late-breaking poster session at the annual European Association for the Study of the Liver Congress 2025.
• SanegeneBio received clinical trial approval from the Center for Drug Evaluation of China's National Medical Products Administration for siRNA drug candidate SGB-3383 targeting complement factor B to treat complement-mediated kidney diseases.
• Abbisko Therapeutics (SEHK:2256)'s CSF-1R inhibitor, pimicotinib (ABSK021), has been granted Priority Review for Tenosynovial Giant Cell Tumor by the Center for Drug Evaluation of China's National Medical Products Administration.
The company also announced that its FGFR4 inhibitor irpagratinib (ABSK011) has received Breakthrough Therapy designation from the CDE of China's NMPA for the treatment of Hepatocellular Carcinoma (HCC).
• Jacobio (SEHK:1167) announced that the research on its SHP2 inhibitor sitneprotafib was published in Clinical Cancer Research (IF: 10.4), detailing preclinical data and patient cases on the SHP2 inhibitor in combination therapies.
• Abogen Biosciences received US Food and Drug Administration Investigational New Drug (IND) approval for its novel mRNA therapeutic cancer vaccine targeting multiple KRAS mutations—China's first of its kind and a major breakthrough in difficult-to-drug targets.
The company has officially initiated Phase 1 clinical trials in Guangxi for two of its novel lyophilized mRNA vaccines: ABO1105, targeting respiratory syncytial virus (RSV), and ABO1108, targeting varicella-zoster virus (VZV).
• Berry Genomics (SZSE:000710) supported research published by Sun Yat-sen University in Molecular Biology and Evolution by providing single-cell analysis services using the 10x Genomics platform.
• InferVision has published research in Nature Communications with three top-tier Class A hospitals in China, highlighting how its AI 3D reconstruction technology advances preoperative planning in thoracic surgery.
• Bioheng Therapeutics presented Phase 1 clinical data on its allogeneic anti-CD19 CAR-T therapy, RD06-03, at the ASCO Annual Meeting. RD06-03 is being developed for patients with relapsed/refractory acute B-lymphoblastic leukemia.
• InventisBio (SHSE:688382) has dosed the first patient in a Phase 2 trial of TYK2 inhibitor D-2570 (Nomelcitinib) for ulcerative colitis at Sir Run Run Shaw Hospital, affiliated with Zhejiang University School of Medicine.
• CSR Biotech is featured in Microscopy & Microanalysis by the Microscopy Society of America. The review highlights advances in super-resolution microscopy, featuring CSR Biotech's MI-SIM alongside innovations from other global leaders.
• TriApex's partner SynerK has received clinical trial clearances in both China and the US for its first siRNA drug candidate, SNK-2726, developed using the GalNexus platform. The first patient was dosed in a Phase 1 clinical trial in China.
• Inscinstech announced that its partner Visirna Therapeutics' NDA for VSA001, the first breakthrough therapy in China for FCS, has been accepted by China's National Medical Products Administration. Inscinstech enabled the drug's development with key technical support.
• Cure Genetics published a study in Molecular Therapy Oncology on AAV therapy in tumor immunotherapy, aiming to develop treatments for ovarian and endometrial cancers and explore broader AAV applications.
• SinoUnited Health has launched its International CAR-T Cell Therapy Center in Shanghai. In one year, the center has treated 12 international patients, showing promising recovery and improved quality of life.
The company has also launched its AI-powered family doctor, the AI Agent system, which offers smart consultations, health advice, chronic disease management, medication guidance, health report interpretation, and lifestyle recommendations.
• CANbridge Pharmaceuticals (SEHK:1228) announced that velaglucerase-beta for injection Gaurunning has received marketing approval in China as its third rare disease therapy and first self-developed product to reach commercialization.
• Jacobio (SEHK:1167) received approval from China's National Medical Products Administration to launch a KRASG12C inhibitor glecirasib for non-small cell lung cancer patients with KRASG12C mutations who received prior systemic therapy.
• Pulnovo Medical received its second EU market approval for the PADN RF generator at EuroPCR, following the earlier approval of its innovative catheter device.
• TINGSN has received official approval in China for its independently developed TINGSN Sonic Eyes 8 Eco, the first Chinese-developed 8F intracardiac echocardiography (ICE) catheter to be approved for clinical use.
A one-stop procedure at the People's Hospital of Baise, combining atrial fibrillation ablation and balloon mitral valvuloplasty, was successfully guided by the intracardiac echocardiography technology developed by TINGSN.
• DK MedTech has received dual approvals for its DKutting™ LL Peripheral Scoring Balloon Dilatation Catheter—certified under the EU Medical Device Regulation (MDR 816124 R000) and cleared by the US Food and Drug Administration (K242254).
• The Pu'er People's Hospital successfully completed two pulsed field ablation procedures for persistent atrial fibrillation using the AForcePlus™ Force-sensing PFA Catheter and 3D mapping system developed by APT Medical (SHSE:688617).
• Pluslife joined a side event at the World Health Assembly, where Founder and Chief Scientist Prof. Songyang Zhou discussed how Near-Patient Molecular Diagnostics can empower primary care and improve diagnostic equity.
He also shared insights on diagnostic innovation at the other side event of World Health Assembly and introduced MiniDock, a rapid, accessible Near-POCT platform using sputum and tongue swabs.
• At Capital Medical University's Conference, Beijing Shijitan Hospital and Cornerstone Robotics launched a Robotic Surgery Training Center. A nearly 3,000 km live demo with Sentire® showed the potential of surgical robotics in expanding access.
Professor Xuesong Li's team at Peking University First Hospital completed 3 pioneering upper urinary tract reconstruction surgeries using Sentire® robot developed by the company, showcasing the power of Chinese surgical robotics in precision care.
• Insight Lifetech has announced the successful completion of the first IVUS case in Vietnam at Hanoi University Medical Center. This milestone marks a major step forward in advancing intravascular imaging and precision care in the region.
• At the Annual Meeting of the European SocieTy for Radiotherapy and Oncology, Prof. Junfang Yan's team from Peking Union Medical College Hospital presented results from a Phase 3 trial of a PEG hydrogel developed by Reunion.
• Alpha Biopharma announced that Zorifertinib, its next-gen EGFR-TKI, was recognized in the 2024 China Oncology Development Report by CACA and included as a Grade I recommendation in the 2025 CSCO NSCLC guidelines.
• Bondent showcased its latest innovations at IDEX Istanbul 2025. From the high-precision DOM4000 Pro Microscope to ergonomic dental chairs, Bondent is driving clinical excellence and global collaboration.
• At the World Society for Reconstructive Microsurgery Congress, KouTech showcased its precise microsurgical robot equipped with the world's smallest 2 mm forceps featuring 7 degrees of freedom, enabling anastomosis of vessels as small as 0.5 mm.
• Saints Sages Surgical hosted a hands-on training session at AIMS Academy, introducing dozens of leading Italian surgeons to its first-in-class SanAgile® 7mm integrated ultrasonic scalpel and SA10 portable controller.
• M20 Genomics contributed to a Nature Communications (IF: 14.7) study developing snCED-seq for single-nucleus RNA-seq of FFPE brain tissue from Alzheimer's disease mouse models—advancing neurodegenerative research.
• At the China Health IT Conference for 2025, Goodwill (SHSE:688246) showcased its latest innovations under the theme "Deep AI Integration, Unlocking Data Value," including next-generation EMR (V7), Smart Data Hub, and Critical Care Platforms.
• Xinzeyuan showcased its advanced medical technologies at Hospitalar 2025. The event highlighted China's growing leadership in medical manufacturing through the company's comprehensive minimally invasive solutions.
Portfolio Awards
• Meituan (SEHK:3690) and Xiaomi (SEHK:1810) have been named among the Kantar BrandZ 2025 Most Valuable Global Brands. The Kantar BrandZ ranking is based on a comprehensive analysis that combines financial performance with brand equity research to quantify a brand’s real-world business impact.
