Participated · Equity · Jul 2026

Hongqing Technology describes itself as an integrated satellite constellation solution provider offering systematic full-chain services for low-Earth orbit projects. Founded in 2017 and headquartered in Beijing E-Town’s aerospace district, the company produces flat-panel stackable satellites and operates a Shanghai testing and development base and an Xiong’an intelligent satellite manufacturing base. It has in-house subsystems such as the Jinwu-200 krypton Hall thruster and has flown test satellites on Landspace rockets. Hongqing filed the Honghu-3 constellation with the ITU in May 2024, proposing 10,000 satellites across 160 planes, and aims to produce between 100–500 satellites annually by 2026. The company is majority-owned by Landspace and, following the latest financing, has raised over ¥2.5 billion to date to support operations, R&D and team expansion.

Participated · Equity · Mar 2026

Founded in May 2023 by Peking University professor Wang He, Galaxy Universal Robotics builds general-purpose humanoid robots that integrate high-level perception, cognitive planning, and low-level motor control through its self-developed “AstraBrain” embodied large model. The company pairs this model with the world’s largest embodied-intelligence dataset (tens of billions of data points) and a virtual-real fusion training system called “AstraSynth,” which it claims yields 1,000× higher training efficiency than Tesla and a 99 % task-success rate. Flagship robot Galbot S1 already performs fully autonomous work inside CATL battery factories and carries 50 kg dual-arm payloads under harsh industrial conditions. Commercial pilots span hundreds of “Galaxy Space Capsule” retail stores, 24-city smart-pharmacy networks managing 5,000 SKUs, and deployments in top hospitals such as Xuanwu and West China. Industrial partners include CATL, Bosch, Toyota, BAIC, and SAIC, with cumulative industrial orders in the thousands. The firm’s valuation topped US $3 billion after a late-2025 round and “continues to lead the humanoid robot industry,” supported by record cumulative fundraising that now exceeds any peer in China.

Participated · Equity · Apr 2024

亨通高压 is a cable and optical‑fiber manufacturer and a subsidiary of 亨通集团. Its core products include high‑voltage and ultra‑high‑voltage power cables, submarine cables, optical‑fiber composite submarine cables, and submarine optical cables. The company also supplies related supporting products and offers end‑to‑end power and communications transmission system solutions covering design, production, installation, and maintenance. The article reports a new strategic financing round totaling RMB 560 million (5.6亿元). The financing was completed at a reported pre‑money valuation of RMB 17.5 billion (175亿元). No operating metrics (revenue/users) or future product plans beyond its existing product and service scope were disclosed in the article. Jiangsu Hengtong High‑Voltage Submarine Cable was established in July 2009 with Jiangsu Hengtong Optic‑Electronics as the principal investor. The company is located in the Changshu Economic Development Zone and its project has total planned investment of over RMB 1 billion and two 10,000‑ton docks. Its main products include 500kV ultra‑high‑voltage cross‑linked power cables, optical‑electrical composite submarine cables, submarine power cables, and submarine optical cables. The company emphasizes a "high starting point, high standard, high efficiency" operating philosophy and adopts advanced domestic and international equipment. It states its manufacturing technology will reach international advanced levels. The article notes the company is a specialized, high‑standard manufacturer within the Hengtong Group structure. Recent corporate information was sourced from Tianyancha and compiled by Securities Star.

Participated · Debt Financing · Feb 2021

WM Motor designs and manufactures mainstream smart electric vehicles and operates two fully self-owned, highly automated factories to integrate R&D and production. The company has delivered over 80,000 vehicles to date and reported total vehicle deliveries of 34,068 units from January to October 2021. Its product line includes the W6—claimed as the world’s first mass-produced vehicle with L4 autonomous driving and Automated Valet Parking—and the M7 sedan, with mass production and delivery of the M7 expected to commence in 2022. WM Motor plans to use new funding to accelerate development of autonomous driving and other smart technologies, expand sales and service channels nationwide, and ramp production and deliveries. Management said the business showed resilience amid the global chip shortage and expects to boost sales next year with investor and partner support. WM Motor is a dominant player in China’s mainstream electric vehicle market, producing smart EVs that emphasize advanced smart cockpits and an integrated electric powertrain system. Its lineup includes the W6 SUV, launched in April 2021, which the company says is the first smart BEV equipped with L4 Automated Valet Parking (AVP); a new sedan was scheduled for launch in mid-October 2021. WM Motor operates two fully self-owned, highly automated factories and integrates in-house R&D and manufacturing to support vehicle safety and reliability. The company has delivered over 70,000 vehicles cumulatively and sold 29,043 vehicles from January to September 2021, exceeding its full-year 2020 sales. Despite industry chip shortages, WM Motor secured its supply chain, continued deliveries, and reported a positive cash gross profit. The company is focused on expanding sales and service channels and further developing autonomous driving and other smart technologies to enhance the user experience. WM Motor is a Shanghai-based electric-vehicle startup founded in 2015 that builds and sells the EX5 electric SUV. The company has delivered more than 41,000 EX5 units to date. WM Motor secured an 11.5 billion yuan (≈$1.8 billion) line of credit from local banks to support its near-term growth. The funding includes a first tranche of 3.5 billion yuan and comes from 11 lenders. WM Motor said it will use the funds to invest in product innovation, technology development, intelligent manufacturing, channel expansion and digital marketing. The company is moving closer to a planned public listing on Shanghai’s Star board. WM Motor is a Shanghai-based company that develops electric vehicles. On Tuesday it announced the completion of a Series D financing round. The round totalled ¥10 billion (about $1.47 billion). The deal is described as the largest financing to date for a Chinese electric-vehicles developer. The article does not provide details on investors, operating metrics, or future plans. WM Motor is a Chinese electric-vehicle maker that began selling the EX5 electric SUV in China in spring 2018. The EX5 is offered with three battery variants for ranges of about 300, 400, or 460 kilometres and is powered by a motor rated at 160 kW and 315 Nm torque. The company says it plans to launch about one electric vehicle per year under the Weltmeister/WeiMa label and will upgrade its technology, products, new retail modes and intelligent manufacturing in 2019. WM Motor has a cooperation with BorgWarner providing electric drive technologies including the eDM module that drives the EX5. Founder, chairman and CEO Freeman Shen is cited discussing the firm’s product and technology plans. Financially, the company has raised capital for manufacture and R&D and is directing fresh funds primarily into research and development and intelligent-vehicle efforts with partners.

Participated · Debt Financing · Sep 2017

Founded in 2012 and based in Shanghai, Royole develops flexible-display and flexible-sensor technologies and has commercialized both hardware and licensing. Its most visible recent product is the FlexPai foldable smartphone, slated for a December release and priced around $1,300 USD. Tech reviewers confirmed the device functions as a folding phone, though they noted the display material shows crinkles, has lower clarity, and the handset is relatively chunky when folded. Royole emphasizes being first to market with a working foldable screen, beating larger competitors like Samsung to shipable hardware. Beyond consumer phones, the company sells licenses for industrial applications such as automotive and media and says it has already sold many licenses. Royole also launched a $30 million developer program to spur content and apps for the new form factor. Royole manufactures next-generation human-machine interface technologies and products, including advanced flexible full-color AMOLED displays, novel transparent flexible sensors, and smart devices such as the Moon 3D mobile theater. Its thin full-color AMOLED flexible display measures about 0.01mm thick with a 1mm bending radius. The company says it has filed more than 1,200 core technology intellectual property rights over the past five years. Since 2015 it has been developing a $1.7B international flexible display campus in Shenzhen with an annual production capacity expected to exceed 50 million flexible display units. Royole intends to use the newly raised funds to invest in R&D, production, and sales. The firm was co-founded in 2012 by three Stanford and Tsinghua engineering graduates including CEO Dr. Bill Liu and is based in Fremont, Shenzhen and Hong Kong. Royole Corporation designs and manufactures advanced flexible displays, flexible sensors, and smart devices using proprietary flexible electronics technologies. Led by Founder and CEO Dr. Bill Liu, the company also provides IP licenses, services, and solutions for display and flexible-electronics applications. Royole has amassed over 500 issued and pending patents and related know‑how across materials, processes, devices, circuits, software, and product design. The company operates offices in Fremont, California, Hong Kong, and Shenzhen, China. It intends to use the new funding for research and development, production, sales, and other fields to advance its product and commercial efforts.