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Industrial and Commercial Bank of China

55 Fuxingmennei Avenue, Xicheng District, Beijing, 100031, China

Overview

In 2011, the Industrial and Commercial Bank of China Limited ("ICBC") remained committed to serving the economy during an extraordinarily difficult year. The Bank forged ahead business re-orientation and development advance by better aligning the diversified needs of financial services from customers. Through spreading effort on a global scale and integrated operation, ICBC stepped up its reform backed by robust corporate governance practices and risk management. ICBC was well-positioned to remain as the world's largest bank by market value, customer deposit. ICBC provides a wide range of financial products and services to 4.11 million corporate clients and 282 million individual customers through 16,648 outlets across China, 239 overseas subsidiaries and a global network of more than 1,669 correspondent banks as well as Internet Banking, Telephone Banking and Self-service Banking. ICBC established strong presence by its commercial banking operation and rapid expansion to markets worldwide. ICBC held the top slots in the country in many business areas of commercial banking. At the end of 2011, total assets reached RMB 15,476.868 billion, representing an increase of RMB 2,018.246 billion, or 15.0% over the end of previous year; Total liabilities reached RMB 14,519.045 billion at the end of 2011, up RMB 1,882.08 billion, or 14.9% from a year earlier. Having a 25.6% increase against previous year in net profit to RMB 208.445 billion in 2011, ICBC defended its position as the world’s most profitable bank. Return on average total assets and return on weighted average equity on par with the international standard, were at 1.44% and 23.44% respectively. Earnings per share rose RMB 0.12 from a year earlier to RMB 0.6. Ratio of non-performing loans fell to 0.94 percent, down 0.14 percentage points against previous year. Bad loan balance and ratio "both declined" in the twelve years in a row. ICBC scaled up its capital strength and sustainable development by securing capital adequacy ratio and core capital adequacy at 13.17% and 10.07% respectively. ICBC recently bolstered its business portfolio and advanced the transformation of Corporate Banking in line with the changes in the macro environment. One focus was to expand the customer base through different enhanced services targeting at different customers, especially services to key customers and small-and-medium business owners. In order to meet the demand of customers for diversified financial services, ICBC exerted concrete steps to increase synergy between commercial banking and investment banking through service innovation and all-product marketing. Asset management, account services, asset support services, intermediary finance services were financial asset services for large customers. Leveraging its global service network and integrated IT platform covering all ICBC branches at home and abroad, ICBC supported "go global" projects of Chinese enterprises. Global cash management, cross-border RMB services were some of the global services of ICBC to serve worldwide customers. ICBC has been named "Best Corporate Bank in China" by the UK Financial Times. At the end of 2011, the Bank had 4.11 million corporate customers,while 127,000 customers had loan balances with the Bank, or an increase of 25,000 customers over end of previous year. According to data from People's Bank of China, by the end of 2011 ICBC ranked No. 1 among the domestic banks in terms of corporate loans and corporate deposits with market shares of 12.0% and 12.7% respectively. The bank has locations in Beijing, Shanghai, Tianjin, Qingdao, Qinhuangdao, Shenyang, and Hong Kong.

Total investments
7
Lead investments
2
Investments · 12mo
2
Active investors
8

Sector focus

  • Banking
  • Finance
  • Financial Services
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Investment portfolio

  • Hongqing Technology

    Led · 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.

  • Windrose Technology

    Participated · Series C · Feb 2026

    Founded in 2022, Windrose Technology focuses on “zero-carbon long-haul smart transportation” by producing large electric trucks such as its flagship Global E700, which carries a 700 kWh battery enabling a 670 km range at 49-ton gross weight and supports megawatt-level fast charging that adds 400 km in 35 minutes. The company has already obtained vehicle certifications in China, the United States, and Europe, and has begun large-scale deliveries to key Chinese customers while targeting major roll-outs in Europe, North America, and the Asia-Pacific by 2026. Its customer list includes Decathlon, Rémy Cointreau, Nestlé, and Kühne + Nagel, among others. Windrose operates a global headquarters in Antwerp, Belgium and is building assembly facilities in Belgium, France, and the United States, complemented by renewable-energy-powered charging infrastructure. A second-generation truck with an 800 km+ range is under development to extend the firm’s technological lead. Although current revenue figures were not disclosed, the company notes successful endurance tests in harsh environments ranging from the Chilean Andes to Australian grades and U.S. comparative trials against Tesla and Volvo trucks. Management is also considering future public listings in the U.S. and Europe.

  • Sungrow New Energy

    Led · Equity · Mar 2024

    Yangguang New Energy is a national high‑tech enterprise focused on new energy development and utilization. It operates as the new‑energy development and investment platform of 阳光电源 (stock code: 300274). The company concentrates on photovoltaic, wind power and multi‑energy integration including wind‑solar‑storage‑hydrogen‑charging. It provides full‑lifecycle solutions covering system R&D, development investment, design and construction, and operations management. The company recently received a strategic capital injection totaling RMB 500 million from 工银金投 and 建信投资. The capital increase allocated RMB 39,463,299 to new share capital and RMB 460,536,701 to capital reserve.

  • Agrovision

    Participated · Debt Financing · May 2022

    Agrovision grows and sells premium superfruits — blueberries, raspberries, blackberries, and cherries — through its Fruitist and Big Skye brands to major retailers worldwide. The company operates a vertically integrated platform spanning genetics R&D, AI-driven quality scanning, postharvest storage, robotics, and bee pollination to deliver year-round supply. Agrovision partners with RipeLocker to extend berry shelf life three times versus conventional methods and has invested heavily in freshness and shelf-life technologies. It reports owned and controlled land and water assets across Peru, Mexico, Morocco, USA, Egypt, India, and China and supplies retailers including Costco, Publix, Trader Joe’s, Walmart, Whole Foods, and others globally. The company has invested over $400 million in global expansion, new genetics, AI, and proprietary technology and employs up to 15,000 field workers in Peru, with over half women. Agrovision emphasizes regenerative farming, sustainability aligned to 11 UN SDGs, and plans to invest in future crops, new superfruit varieties, and to scale operations amid accelerated retailer demand. Agrovision is a vertically integrated, tech-forward superfruit company that produces premium berries using sustainable farming practices, precision agriculture, and complete supply-chain control. The company operates farming, supply chain, and marketing activities across Asia, North America, and Europe and supplies consumers year-round. Agrovision emphasizes sustainability, has received multiple environmental, social, and biodiversity awards, and aligns with several UN Sustainable Development Goals. Proceeds from the latest growth capital round will fund the next phases of its global expansion and support its mission to transform lives and promote sustainability. Recent corporate developments include a North American marketing partnership with Berries Paradise and a prior $210 million long-term, flexible financing led by Credit Suisse and co-led by Rabobank, Santander, ICBC, and others. Agrovision operates farming, supply-chain and marketing activities across Asia, North America and Europe, supplying superfruits and vegetables. The company is vertically integrated and focuses on increasing global availability of its berry products. It describes itself as mission-driven, aiming to transform lives while promoting sustainability. Agrovision has been recognized for its conservation and sustainable use of natural resources and biodiversity. The company recently secured a large financing package to support expansion and strategic opportunities. Proceeds are intended to fund global growth and increase supply into current and new markets.

  • WM Motor

    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.

Team

  • Wang Xiquan

    Senior Executive Vice President

    LinkedIn
  • Fu Zhongjun

    Non-Executive Director

  • Zhang Yi

    Head of Operation management Dept

    LinkedIn
  • Bojana Ciric

    Vice President, Data Governance Lead, Data Quality Product Lead

    LinkedIn