Core Insights - In the first three quarters of 2025, Chinese enterprises achieved a total of 197 IPOs, with Tsinghua University alumni being the most active group, contributing 10 new listed companies across various advanced technology sectors [5][9][12]. Group 1: Tsinghua University IPOs - Tsinghua University has produced 10 IPOs in 2025, making it the leading university in terms of IPOs for the year [9][11]. - The 10 companies include HeSai Technology, JiZhiJia, FengZhao Technology, ZhouLiFu, HaiBoSiChuang, TianHe Magnetic Materials, XinHengHui, XunZhong Communication, YuanBao, and YiPinWeiKe, with a total market capitalization exceeding 200 billion RMB [9][11][12]. - Among these, 7 companies have a market value exceeding 10 billion RMB, and 2 companies have surpassed 40 billion RMB [5][8]. Group 2: Notable Companies and Their Performance - HeSai Technology, known as the "global leader in LiDAR," went public on September 16, 2025, raising 4.16 billion HKD and achieving a peak market value of 36 billion HKD on its first day [12][13]. - JiZhiJia, the first global AMR warehouse robot company, completed its IPO on July 9, 2025, raising 2.712 billion HKD, with its market value soaring to nearly 40 billion HKD shortly after [15][18]. - HaiBoSiChuang, a leading energy storage company, has seen its stock price increase 12 times since its listing in January 2025, showcasing the successful cycle of alumni entrepreneurship and capital support from Tsinghua [17][22]. Group 3: Alumni Capital and Ecosystem - Tsinghua alumni capital plays a crucial role in supporting these IPOs, creating a closed-loop ecosystem from alumni entrepreneurship to capital market success [16][18]. - Investment firms like GaoHong Venture and HuoShan Capital, founded by Tsinghua alumni, have significantly contributed to the funding of companies like JiZhiJia and HeSai Technology, yielding substantial returns [18][22]. - The continuous support from Tsinghua alumni capital has enabled new projects in emerging fields like embodied intelligence and robotics to secure early-stage funding and industry resources [21][22]. Group 4: Future Prospects - As of late 2025, Tsinghua alumni are poised to create more "star projects," with companies like XingDongJiYuan and LingYu Intelligent focusing on cutting-edge technologies [20][21]. - The trend indicates a strong pipeline of upcoming IPOs from Tsinghua alumni, reinforcing the university's position as a leading incubator for innovative startups [22].