What's New at Qiming
• At the 2025 China Sci-Tech Investment Summer Summit · Industry Investment Summit, Shan Zhu, Chairman of Chinese Venture, and Duane Kuang, Founding Managing Partner of Qiming Venture Partners, held an engaging discussion. Reflecting on the wave of AI-driven investment, Duane emphasized the importance of uncovering opportunities in specialized sub-sectors. While competition across the technology landscape is intense, he noted that many niches remain underexplored. He pointed to embodied intelligence and multimodal models as examples of areas with strong long-term potential and expressed his belief that the AI sector could foster the rise of ecosystem-oriented technology companies, much like Xiaomi, creating new opportunities for both established enterprises and startups.
• During the "Entrepreneurship and Investment Forum – AI Resonance: Uniting Technology and Application" at WAIC 2025, Qiming Venture Partners' Managing Partners and Partners engaged in thought-provoking discussions with entrepreneurs on a number of topics.
In one session, Dr. Feng Ren, Co-CEO and CSO of Insilico Medicine, and William Hu, Managing Partner of Qiming Venture Partners, had a discussion on "AI-Driven Next-Generation Drug Discovery: Precision Target Identification and Clinical Value Creation." He highlighted how AI can overcome the limitations of traditional drug discovery by analyzing massive datasets to unlock breakthroughs in target discovery and molecule generation. Dr. Feng Ren noted that the industry is moving from AI Pharma 2.0 to 3.0, with large models enabling biomedicine-focused intelligent agents that can support not only molecular design but also decision-making. He emphasized that for AI-driven biotech companies, true impact lies in combining proprietary core technologies with deep integration into real-world drug development, ensuring innovations translate into clinical and commercial value.
Shiyu Wang, Partner at Qiming Venture Partners, spoke with Shawn Ma, CEO of VISION INTELLIGENCE, on "AI Pragmatism: From Smart Hardware to Office Assistants, Solving Real User Needs." Shawn emphasized that success depends on balancing core device performance with AI-powered value-added services. Using AI earbuds as an example, he highlighted the "5+X" strategy: first perfect the core experience, including sound quality, battery life, design, noise cancellation, and comfort, then layer on AI features such as transcription, summarization, translation, and voice assistance. He added that in the era of large AI models, a startup’s competitive advantage comes from deep vertical integration and data accumulation. VISION INTELLIGENCE aims to create a differentiated office ecosystem through its hardware, forming a "perception + workflow loop" that complements larger technology companies.
Portfolio Highlights
Portfolio ESG
• Students from Liangshan Yi Autonomous Prefecture, Sichuan, China, visited WeRide (NASDAQ:WRD) to learn about autonomous driving and experience rides in the Robobus and Robotaxi, as WeRide inspires young minds through technology.
• HyperStrong (SHSE:688411) has been named a Five-Star Outstanding ESG Company by China's supplier ESG rating platform, integrating ESG throughout its strategy and operations and collaborating with partners to build a sustainable ecosystem.
• Tigermed (SZSE:300347, SEHK:3347) received an MSCI ESG Rating of AAA, the highest available, highlighting its leadership in sustainable business and excellence in ESG practices.
Financing
• SANY Hydrogen Energy has completed its Series A financing of several hundred million RMB, led by Qiming Venture Partners. The funds will advance R&D of green hydrogen equipment, upgrade manufacturing, and drive large-scale adoption of green hydrogen.
• Zenitar has completed a nearly RMB 400 million financing round led by Qiming Venture Partners to advance globally competitive drug candidates into Phase 3 trials and to strengthen its three core technology platforms aimed at addressing unmet clinical needs.
• Minghui Pharmaceutical has closed a $131 million Pre-IPO round co-led by Qiming Venture Partners. Proceeds will be used to advance its PD-1/VEGF bispecific antibody and combination strategies with ADCs, and support the planned commercial launch of its topical JAK inhibitor in China.
• Huimei Technology, a leading provider of medical AI solutions, has raised nearly RMB 200 million in its latest round, with Qiming Venture Partners continuing its investment. Its solutions support clinical decision-making, quality control, and cost management across healthcare institutions.
• Vivatides Therapeutics has completed a 10-million-dollar seed financing round with participation from Qiming Venture Partners. The proceeds will support the preclinical development of its extrahepatic-targeted RNAi platforms and pipelines.
Technology
• At the 2025 World Robot Conference, UBTECH (SEHK:9880) showcased its humanoid robots, featuring Walker S2 with autonomous battery swapping and the newly launched full-sized wheeled robot Cruzr S2, offering immersive demonstrations. Hesai Technology (NASDAQ:HSAI, SEHK:2525) showcased its latest lidar technology, featuring the compact JT series and next-generation automotive-grade solid-state lidar FTX, designed to advance robotic perception and autonomy. DH-Robotics unveiled its DH-5-6 Dexterous Hand, demonstrating innovative applications such as chip and mahjong grasping, dumbbell lifting, general insertion/removal, CPU assembly, teleoperation, and more. Yunji Technology debuted the world's first robot-themed amusement park–style exhibit themed "YUNI'S HAPPYLAND," showcasing AI agents collaborating to advance the service robotics industry.
• Hesai Technology (NASDAQ:HSAI, SEHK:2525) has partnered with Vbot to integrate lidar and AI, advancing robotic perception and interaction to accelerate embodied intelligence and launch the industry's first intelligent companion robot.
Beonic's smart airport solution enhances operations and passenger experience. Powered by the JT series mini 3D lidar from the company, it provides actionable insights for queues, gates, passenger flow, and workforce planning.
Gasgoo Research Institute ranked China's passenger vehicle main lidar installations in H1 2025: 861,767 units total. Hesai Technology led with 284,399 units and 33.0% market share, cementing its industry leadership.
• Roborock (SHSE:688169) has launched the H50 Cordless Handheld Vacuum and H50 Pro Auto Dust Emptying Vacuum, combining powerful suction, advanced allergen filtration, and smart design for effortless home cleaning.
• Antigravity A1, the world's first drone with built-in 8K 360 capture, has launched. It's also the first product from Antigravity, the new drone brand incubated by Insta360 (SHSE:688775) in collaboration with partners.
The company has launched GO Ultra—featuring a 221% larger sensor, 5nm AI chip, and PureVideo for stunning low-light performance. Compact yet powerful, it's built for vloggers, families, and travelers to capture life in motion.
• Tuhu Car (SEHK:9690) has officially launched the Faraday Zero Pro Series on its platform, China's first automotive window film featuring large-scale radiative cooling technology and backed by a 10-year warranty program.
• PETKIT hosted its 2025 Global New Product Launch in Jiangsu, China, unveiling smart pet care innovations including Purobot Crystal Duo, an automatic wet food feeder, the second-generation smart visual feeder, and EverSweet MAX 2.
• WeRide (NASDAQ:WRD) has been approved for late-night Robotaxi testing (10pm–7am) in Beijing's High-Level Autonomous Driving Demonstration Zone, marking a key step toward 24/7, all-weather autonomous mobility in the city.
As part of the iamo (Intelligent Automated Mobility) pilot project, the company is operating Robotaxis in Switzerland, mapping public roads in Furttal, Würenlos, and Killwangen. Future expansion will include Robobuses.
WeRide has launched WePilot AiDrive, a one-stage end-to-end ADAS solution developed with Bosch, just six months after their two-stage end-to-end solution entered mass production.
• At the 2025 World Humanoid Robot Games, Tien Kung, developed by the Beijing Innovation Center of Humanoid Robotics, initiated by UBTECH (SEHK:9880), made history as the first humanoid robot to win the 100-meter race.
• DeepWay made its international auto show debut at the 2025 EROAD Fleet Managers' Day in New Zealand, showcasing its smart electric heavy truck, DeepWay Star. With full compliance certification, local operations and sales will soon launch.
The company announced that its partner hosted DeepWay's first test drive event in New Zealand, showcasing its right-hand-drive model with a 600 kWh battery, over 440 km range, and advanced "Tianji·Suixing" driver-assistance system.
In partnership with leading logistics enterprises, the company has completed the first delivery of 100 Xingtu short wheelbase models and signed contracts for an additional 500 units.
• HyperStrong (SHSE:688411) has passed certification under China's national safety standard GB 44240-2024, Secondary Lithium Cells and Batteries Used in Electrical Energy Storage Systems, for its 314Ah-1P416S battery pack system.
The company has been recognized as an Advanced Intelligent Factory in Beijing for its "Big Data-Driven High-Performance Energy Storage Smart Factory," showcasing its leadership in smart manufacturing and renewable energy.
• Cubenergy has delivered a 10MW/11MWh Battery Energy Storage System project in the Netherlands, supporting frequency regulation for smaller-scale grid applications and setting a benchmark for resilient, ESG-driven deployment.
• At Fórum E-Commerce Brasil, iMile showcased an immersive local delivery experience through a dedicated exhibition booth, connecting with clients and logistics partners to expand its last-mile network across Brazil.
Healthcare
• CANbridge Pharmaceuticals (SEHK:1228) expanded collaboration with Baheal Medical. A Baheal subsidiary will be exclusive CSO for CANbridge Pharmaceuticals' products in the Chinese Mainland, Hong Kong, and Macau, with distributor options for Baheal affiliates.
The company announced that three of its rare disease therapies have passed the formal review for inclusion in the National Healthcare Security Administration of China (NHSA) Innovative Drug Reimbursement List.
• Huadong Medicine announced a collaboration with DP Technology to adopt its Uni-FEP module, a core component of Hermite® computational drug design platform, to accelerate research and advance the digital transformation of drug discovery.
• Gan & Lee Pharmaceuticals (SHSE:603087) has dosed the first patient in a Phase 2 clinical trial in China of GZR102 injection, its once-weekly fixed-ratio combination of basal insulin and GLP-1 receptor agonist (GLP-1RA) for adults with type 2 diabetes.
• Zai Lab (NASDAQ:ZLAB, SEHK:9688) received Innovative Medical Device Designation from China's National Medical Products Administration for Tumor Treating Fields in pancreatic cancer, supported by positive Phase 3 PANOVA-3 results.
The company has formed an Oncology Scientific Advisory Board of distinguished leaders to support the advancement of its oncology pipeline, including multiple internally developed investigational therapies.
• Insilico Medicine announced that ISM8969, an oral NLRP3 inhibitor for neurodegenerative disorders, completed IND-enabling studies with favorable results. IND submission planned in Q4 for potential Parkinson's therapy.
The company published in Aging on aging-related mechanisms in idiopathic pulmonary fibrosis, uncovering links between aging biology and IPF pathogenesis and the promise of AI-guided therapeutic development for age-related diseases.
• Abbisko Therapeutics (SEHK:2256) received IND clearance in China for its oral PD-L1 inhibitor ABSK043 combined with Allist's KRASG12C inhibitor glecirasib to treat non-small cell lung cancer patients with KRASG12C mutation.
The company announced that its CSF-1R inhibitor, pimicotinib, for osteosarcoma has been published in the Journal of Translational Medicine, highlighting its potential to expand precision therapy options for solid tumors.
• Asieris Pharmaceuticals (SHSE:688176) announced that its oral drug APL-1401 has demonstrated positive preliminary results in a Phase 1b clinical trial for the treatment of moderately-to-severely active ulcerative colitis (UC).
The company also announced that its photodynamic drug-device combination product APL-1702, for the non-surgical treatment of cervical High-Grade Squamous Intraepithelial Lesion, has advanced to the second round of technical review.
• Antengene (SEHK:6996) announced that its CLDN18.2 ADC ATG-022 has received Breakthrough Therapy Designation from China's National Medical Products Administration for the treatment of gastric/gastroesophageal junction adenocarcinoma after at least two prior treatments.
• Novamab has launched a randomized, double-blind, placebo-controlled, multicenter Phase 2b trial of LQ036, the first-in-class inhaled single-domain antibody, to evaluate its efficacy and safety in patients with poorly controlled asthma.
• Abogen Biosciences has received implicit IND approval in China for its mRNA tumor vaccine ABO2102. With earlier US Food and Drug Administration approval, this marks a key milestone in dual regulatory clearance across the US and China.
• An Academic Radiology study explores ultrasound-stimulated microbubble cavitation and nitric oxide signaling. Supported by VINNO's ULTIMUS 9E system with VFlash therapy and URM imaging, enabling precise experiments.
• A new Aging Cell study offers the first systematic insights into how age and sex influence extracellular vesicles (EVs) and protein-enriched fractions (PROT) in healthy plasma, using the SISPROT kit from BayOmics.
• A study by Beijing Chest Hospital and Thorough Lab of Thorough Future was published in the Journal of Translational Medicine, advancing precision decision-making for patients with advanced EGFR-mutated NSCLC.
• SinoUnited Health has opened its Longevity Clinic in Shanghai with guidance from Mayo Clinic, integrating global lifestyle medicine and Mayo Clinic's longevity medicine concepts and chronic disease and anti-aging management models.
• Pulnovo Medical has welcomed Dr. Francis Duhay as Global Chief Medical Officer. He will lead medical affairs, clinical development, and regulatory strategies, advancing innovative solutions for Pulmonary Hypertension and Heart Failure.
Cynthia Chen, Chairlady of Pulnovo Medical, joined the HKIC Southeast Asia Delegation, concluding with the International Patient Capital Forum. This marks a major step in Pulnovo Medical's global innovation journey.
The company will unveil the European launch of its PADN series products at ESC Congress 2025, marking a major step in its expansion into Europe. Expert insights and patient cases will showcase PADN's impact on pulmonary hypertension.
• Zencore Biologics began construction of a new 500L drug substance production line in January 2025. The facility will have an annual capacity of 30,000L and an estimated annual output value of roughly RMB 360 million.
• Insight Lifetech received Class II medical device approval from Guangdong Medical Products Administration in China for its iFlowX™ digital pressure pump, marking a step toward digital and intelligent upgrade of essential consumables.
• In response to a recent Chikungunya outbreak in Guangdong, Sino Biological (SZSE:301047) swiftly launched CHIKV variant-targeting recombinant proteins and antibodies, building on its existing E1/E2 offerings.
• SceneRay unveiled a new system (SR1384 Y-type extension lead) at the Academic Conference of Chinese Neurosurgical Society of Chinese Medical Association, marking the arrival of DBS 2.0 and a new era in multi-neural circuit modulation.
The company has received CTF 1 qualification from DEKRA, a global leader in testing, inspection, and certification. This boosts product testing efficiency and supports faster launches and global expansion.
• Bioscience has received medical device registration certificates for two self-developed liquid chromatography-tandem mass spectrometry (LC-MS/MS) diagnostic kits from the Chongqing Municipal Medical Products Administration in China.
• The Chinese University of Hong Kong and Cornerstone Robotics developed the world's first embodied intelligence platform for multitask surgical automation. They clinically validated autonomous surgery on the Sentire® system.
• TandemAI announced the launch of TandemViz 3.5, an upgrade that enhances molecular design workflows with advanced structure prediction, intelligent compound generation, and collaborative 3D design capabilities.
• Saints Sages Surgical has received medical device registration approval from the Saudi Food and Drug Authority for its SA10 Ultrasonic Surgical System, designed for outpatient centers, mobile operating rooms and emergency response scenarios.
• Singular Medical has received a Notice of Allowance from the US Patent and Trademark Office for its "Catheter and Leads for Cardiac Conduction System," marking a key milestone in advancing cardiac conduction system pacing technology.
• Bioyond Robotics has upgraded its LabGenius S Series transport robots with a new collaborative slide rail, tackling key lab challenges like limited coverage, strict environments, repetitive workflows, and space constraints.
• Prof. Zhen Gu's team at East China University of Science and Technology and Prismlab have developed a highly sensitive, easy-to-use solution by combining Tri-PLA-RCA technology with Prismlab's micronano 3D-printed microfluidic chips.
The company upgraded its micro-nano 3D printing system with an optional 380 nm wavelength light source and optimized printing parameters for transparent resin, boosting precision and unlocking possibilities in optics, healthcare, and more.
• Shanghai Ninth People's Hospital, Shanghai Jiao Tong University School of Medicine, used Kai, a microsurgery robot from KouTech, to treat a complex scalp keloid, marking a clinical validation of the Chinese-developed microsurgery robot.
• At International Asia Veterinary Conference and Exhibition 2025, Xinzeyuan showcased veterinary endoscopy solutions, advancing 4K imaging, 3D reconstruction and AI diagnostics for minimally invasive animal care and promoting sustainability.
Portfolio Awards
• WeRide (NASDAQ:WRD) has been named to the 2025 Fortune China Tech 50. As the only technology company with autonomous driving licenses in six countries, WeRide operates in 30 cities worldwide for R&D, testing, and commercial operations.
• SPEEDIANCE was recognized in the 2025 Global Tech Awards in the Fitness Technology (FitTech) category for Gym Monster 2. Its all-in-one design, AI-driven workouts, and immersive content ecosystem impressed the judges.
