Core Insights - Aixin YuanZhi Semiconductor Co., Ltd. officially listed on the Hong Kong Stock Exchange on February 10, 2026, under the stock code "0600" [3][9] - Aixin YuanZhi is recognized as the "first stock of edge AI chips in China" and has received investments from numerous well-known financial institutions and industrial capital [3][10] - Qiming Venture Partners, an early investor, held over 6% of Aixin YuanZhi's shares prior to the IPO, making it the second-largest institutional investor [3][10] Investment Philosophy - Qiming Venture Partners emphasizes a "fast half-step" investment logic, focusing on AI as the most certain investment opportunity in China for the next twenty years [4][12] - The firm believes in early intervention and comprehensive support for companies, from core technology development to commercialization and eventual public listing [4][12] - The successful IPO of Aixin YuanZhi validates Qiming's investment logic and methodology in AI hard technology [4][12] Team and Strategy - Aixin YuanZhi's team possesses a unique capability of understanding both chip technology and AI, which has been a key factor in their success [5][11] - The founder, Qiu Xiaoxin, has over 20 years of experience in the semiconductor industry, contributing to the company's strong technical foundation [5][11] - The company adopts a platform strategy that allows for vertical iteration of IP technology and horizontal expansion into various application fields, creating a differentiated advantage [5][11] Market Context - Qiming Venture Partners has celebrated three AI-related IPOs within the first 40 days of 2026, including Aixin YuanZhi, Wallen Technology, and Zhipu AI [4][10] - The firm attributes this success to the favorable market conditions, including the innovative policies in Hong Kong and the high market interest in AI themes [6][12] - The IPOs of these companies reflect a broader trend in the hard technology sector, where companies with strong value creation capabilities are able to achieve sustainable market valuations [13]
启明创投周志峰：爱芯元智团队「懂芯片、懂AI」，一直坚持的平台型战略铸就今天