China Chengtong Holdings Group
Building 2, Court C12, Zhongguancun South Street, Haidian District, Beijing, 100081, China
Overview
With the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) performing the investor’s duty on behalf of the State Council, China Chengtong Holdings Group Ltd. (China Chengtong) is among the first batch of pilot enterprises for establishing standard board-of-directors and the first pilot of state-owned assets operation enterprise. In February, 2016, China Chengtong was identified as central state-owned enterprise pilot for state-owned capital operation. Founded in 1992, China Chengtong merged the material and circulation enterprises directly under the former Department of Materials. During the period of planned economy, the corporation undertook the responsibility of planned purchase, allocation, storage and delivery of significant means of production and played the role of a major channel and “reservoir” for national economy.
- Total investments
- 3
- Lead investments
- 1
- Investments · 12mo
- 2
- Active investors
- 0
Investment portfolio
- Spacecom
Led · Equity · Aug 2026
Spacecom (SpaceSail) is developing the Qianfan low-Earth-orbit satellite constellation, aiming to deploy up to 15,000 satellites and has already launched about 200 into orbit. The company has increased its launch tempo and is testing services including direct-to-cell connectivity, having completed China's first satellite call on an unmodified smartphone in June. Spacecom has pursued international market access, securing approval in Brazil to operate up to 324 satellites through July 2031 and conducting tests such as a maritime satellite internet trial in Hong Kong. Financially, the company remains deeply unprofitable and cash-burning: it reported no revenue and a net loss of 100 million yuan in Q1 2026, with net losses rising from 200 million yuan in 2022 to 890 million yuan in 2025 and peak revenue of 1.2 million yuan in 2024. The company is positioning itself to compete with incumbents like SpaceX's Starlink and is expected to be one of China's two main satellite internet operators.
- Sunrise
Participated · Equity · Jan 2026
Sunrise was spun off from SenseTime in late 2024 and is led by former Baidu VP Wang Zhan and industry veteran Wang Yong. The company develops AI inference graphics processing units, releasing the Qiwang S3 in January 2026, which uses LPDDR6 memory and is claimed to cut power consumption by about 50% while boosting performance roughly fivefold over its predecessor. Sunrise says the S3 also delivers substantial cost advantages versus prior generations. The company plans to scale mass production of the S3 and to develop subsequent chips named S4 and S5. Financially, Sunrise has raised about ¥4 billion across seven rounds since the spinoff, including the latest >¥1 billion round. The raise and product roadmap come amid strong market demand for inference computing, which industry reports project will outpace training demand in 2026.
- Peijia Medical
Participated · Series C · Nov 2019
Peijia Medical is a Chinese medical instrument provider. The company raised 700 million yuan ($100 million) in a Series C round. Investors in the round include Matrix Partners China, Lilly Asia Ventures, Grand Flight, China SDIC Gaoxin Industrial Investment Corp, and China Chengtong Holdings Group. The raise was disclosed in a company filing. No operating metrics or details on the use of proceeds were disclosed in the article.
Team
No current team members are available.