NIO Capital Updates

 

▌NIO Capital Named TOP 30 Chinese Venture Capital Firm by Zero2IPO Research for 2024

 

NIO Capital has been recognized as one of the TOP 30 Chinese Venture Capital Firms for 2024 by Zero2IPO Research. This marks the fifth consecutive year since 2020 that NIO Capital has been included in the list of China's Top 100 Venture Capital Firms.

 

Zero2IPO Research has been releasing its annual rankings of Chinese equity investments for 24 consecutive years, adhering to scientific and rigorous research methods and maintaining a fair and impartial ranking attitude. The rankings aim to provide a good

evaluation and reference system for the Chinese equity investment industry. After more than 20 years of perseverance and accumulation, the Zero2IPO rankings have received strong support and recognition from both domestic and foreign investment institutions.

 

▌NIO Capital and Managing Partner Featured in 2024 VC Rankings by China-FoF

 

In a recent announcement, NIO Capital and its Managing Partner, Ian Zhu, have been recognized in the prestigious 2024 rankings released by China-FoF. NIO Capital has been honored as one of the TOP 24 VC Funds for 2024, while Ian Zhu has personally been named among the TOP 30 VC Fund Investors for the same year.

 

The equity investment industry is currently undergoing significant transformations, presenting new challenges and opportunities. Against this backdrop, the China-FoF, leveraging its extensive data and in-depth research analysis, has unveiled its annual rankings for 2024. The objective of these rankings is to recognize and celebrate the outstanding institutions and individuals within the fund of funds, private equity and venture capital industry, thereby fostering the healthy development of the equity investment sector.

 

▌NIO Capital Named in TMT Post's "Exit Pioneer TOP 20" and "ESG Pioneer TOP 10" Lists

 

NIO Capital has been recognized in two prestigious lists by TMT Post: the "Exit Pioneer TOP 20" and the "ESG Pioneer TOP 10." These rankings were compiled based on surveys conducted among hundreds of active investment institutions in China's primary market, combined with cross-verification from multiple public databases.

 

In particular, the "Exit Pioneer" award highlights institutions that have demonstrated exceptional performance in 2024 by successfully navigating market challenges, precisely timing their exits, supporting portfolio companies through long-term partnerships, and achieving substantial returns. Evaluation criteria for this category include the number of IPO exits, M&A exits, and overall return levels achieved within the year.

 

▌NIO Capital Invests in Global Digital Energy Solutions Provider INFY Power

 

NIO Capital has announced an investment in INFY Power, a supplier of digital energy products and system solutions. This round of funding will further support INFY Power in leveraging its high-quality products and professional solutions to collaborate with industry partners and contribute to energy transition and sustainable development.

 

▌NIO Capital Releases 2024 Annual Review Highlighting Collaborative Achievements and Sustainable Commitments

 

NIO Capital has released its 2024 Annual Review, showcasing the collective efforts and pursuits of both the investment firm and its portfolio companies. Each achievement in 2024 embodies the dedication and hard work that have not only marked the past year's endeavors but also infused endless momentum for continued progress in the future.

 

Looking ahead, NIO Capital remains committed to the principle of "sustainability," vowing to continue collaborating with various stakeholders to contribute to global sustainable development through its actions and initiatives.

 

 

Portfolio Companies Updates

 

Milestones

 

▌SINPRO Completes Series B Round Funding of RMB 200 Million to Boost Commercialization, R&D, and Business Expansion

SINPRO, a leading developer of 4D imaging radar perception solutions, has completed a Series B round of funding, securing RMB 200 million in investment from Haihe River Industry Fund and Xianjin Yihao Manufacturing Fund. This round of financing will be primarily utilized to enhancecommercialization, advance the development of new-generation products, and facilitate continuous business expansion.

NIO Capital co-led SINPRO's Series A round and supported its subsequent A+ round. Established in 2021, SINPRO has leveraged its technological innovation and extensive experience in radar mass production to achieve remarkable milestones, completing the development of two products within its first year of operation.

 

▌XREAL Maintains Amazon "Black Friday" Sales Crown for AR Glasses, Launches XREAL One

XREAL, a renowned designer and manufacturer of AR glasses, has once again emerged victorious on Amazon's "Black Friday" sales event, securing the top spot in both total sales volume and revenue across all vendors for AR glasses. This marks the third consecutive year that XREAL has topped Amazon's AR glasses sales and revenue charts. Notably, the company's Air 2 Ultra AR glasses have surpassed the sales milestone of 10 million units on independent overseas websites.

In addition to its sales achievements, XREAL has also unveiled its latest product, the XREAL One. This state-of-the-art device boasts a single chip and over 20 upgrades, marking the most significant update in XREAL's history. A notable feature of the XREAL One is the X1 spatial computing chip, which has been developed internally by the company over the course of three years. 
 

 

▌PCG Power and FAS Energy Kick-off Construction of 5.62MW Rooftop PV Project in Zhuhai

PCG Power, a comprehensive energy management service provider, has commenced construction on a 5.62 megawatt (MW) rooftop photovoltaic (PV) distributed project in collaboration with FAS Energy at the Zhuhai Pu Yi Te Industrial Park. FAS Energy is the renewable energy development arm of Fawaz Alhokair Group, one of the leading groups of companies in the Kingdom of Saudi Arabia focusing on retail and real estate business sectors. This project marks the debut of FAS Energy in the Chinese market.

FAS Energy plans to invest significantly in the domestic renewable energy sector in China, with an investment amount in the hundreds of millions of USD. In partnership with PCG Power, FAS Energy aims to develop over 1 gigawatt (GW) of PV power stations across China.
 

▌Rongtong High Tech to Begin Mass Production of Kiloton-Scale Sodium-Ion Battery Materials in 2025

 

In a recent discussion meeting on the mass production of sodium-ion battery cathode materials, He Zhonglin, Chairman of Rongtong High Tech, a producer of essential materials for lithium batteries, announced that the company will become the first in China to achieve ten-thousand-ton-scale production of sodium-ion battery cathode materials.

 

Rongtong High Tech's products have successfully completed testing by leading domestic energy storage and power solution providers and have already secured intent orders. The company plans to commence mass production of kiloton-scale "sodium-ion batteries" in January 2025.

 

▌Pony.ai Among First to Obtain Cross-Recognition Status for Autonomous Vehicle Demonstration in Guangdong-Hong Kong-Macao Greater Bay Area

 

At a symposium on advancing the integration of rules and mechanisms in the Guangdong-Hong Kong-Macao Greater Bay Area, a "Cooperation Framework Agreement on Cross-Recognition for Intelligent and Connected Vehicle Demonstration Programs" was officially signed, with Pony.ai being one of the first companies selected. Under this program, intelligent and connected vehicle-related enterprises registered in any of Hengqin, Qianhai, Nansha, or Bao'an, which have obtained local demonstration program qualifications, will be allowed to directly conduct demonstration activities in the other three regions after submitting a notification for their vehicles that have already received demonstration program approval.

As China's first autonomous driving company to obtain driverless ride-hailing service licenses in Beijing, Shanghai, Guangzhou, and Shenzhen, the four major tier-one cities, Pony.ai's operational footprint has covered more than 2,000 square kilometers.

 

▌Yunchuang Zhixing's Autonomous Driving Sanitation Vehicles Hit the Ground Running at Suzhou Urban Construction & Investment Group's New Facility

Yunchuang Zhixing (YCZX), a pioneering developer of autonomous driving sanitation vehicles, has successfully deployed its cutting-edge technology at "Xinsuo Gongfang - Phase VII of the Biopharmaceutical Industrial Park," a property under the management of Suzhou Urban Construction & Investment Development (Group) Co., Ltd. 
This marks a significant milestone in the integration of autonomous technology within the city's sanitation and urban maintenance systems.

 

Cooperation and Win-win

 

▌NIO ET9 Features Innovations from NIO Capital-Backed Firms, Highlighting Global Smart EV Leadership

 

Products from NIO Capital-invested companies Hiway (automotive component provider), SINPRO (auto-grade environmental perception solutions provider), Seyond (leading provider of high-performance LiDAR sensors and solutions), and ClearMotion (producer of automotive chassis control systems) have been integrated into the newly launched NIO ET9, pioneering global smart electric vehicle innovation.

 

The ET9, a culmination of a decade of technological advancements by NIO, is tailored for visionary innovators who "dare to dream and make a difference." At NIO Day 2024, these companies and some of their collaborative achievements with NIO were prominently showcased.

 

▌XREAL and Google Partner to Usher in a New Era of Android XR

XREAL, a pioneering designer and manufacturer of AR glasses, has announced a strategic partnership with Google to forge a new path in Android XR. As the world's largest AR glasses manufacturer, XREAL holds a commanding 47.2% market share in the first three quarters of 2024, according to IDC data, and has received widespread acclaim from media and the public. 

NIO Capital played a pivotal role in supporting XREAL's growth by co-leading its Series C funding round in 2021 and continuing to provide multidimensional support for its technological innovation and industrial collaborations.
 

▌Uxin Group and CATL's Subsidiary Sign EV Battery Swapping Agreement

Uxin Group, a preowned vehicle trading marketplace, has inked a strategic partnership agreement with Shidai Dianfu, a wholly-owned subsidiary of Contemporary Amperex Technology Co. Limited (CATL), to jointly promote the adoption and development of battery-swappable electric vehicles in the used car market.
 

 

▌IICT and CityUHK's Department of Data Science Establish Joint Lab for AI Innovations

IICT, a leading smart transportation solutions provider, has collaborated with the Department of Data Science at City University of Hong Kong (CityUHK) to establish a joint laboratory dedicated to pioneering AI technologies. Focusing on machine learning, deep learning, data-driven decision-making, and data intelligence, the lab aims to facilitate the high-level application and practical implementation of research outcomes in the field of high-precision AI through industry-academia-research cooperation.
 

▌Pony.ai Partners with Automaker to Develop Fully Redundant Robotaxi Platform

Autonomous driving firm Pony.ai has inked a strategic collaboration with an automaker to jointly research and develop a fully redundant, pre-installed, mass-produced Robotaxi platform. The partnership aims to create competitively priced, scalable Robotaxi models for commercial operations and accelerate the commercialization of fully autonomous Robotaxis. The first batch of vehicles is expected to be completed in 2025 and will debut in the Greater Bay Area in China, with plans to expand to more regions and countries in the future.

 

Going Global

 

▌AlphaESS and TUJUAN RE Sign Strategic Pact, Achieves AEO Certification

AlphaESS, a solar energy storage solution and service provider, has officially signed a strategic agreement with Malaysian energy company TUJUAN RE SDN. BHD. and obtained the Advanced Authorized Economic Operator (AEO) certification from the World Customs Organization (WCO). 

The parties will jointly tap into the large-scale and industrial-commercial energy storage sectors in Malaysia, accelerating the country's green and low-carbon energy transition. Datuk Rozabil Bin Abdul Rahman attended the signing ceremony. AEO, a global standard certification system launched by WCO, recognizes enterprises that meet supply chain security standards.

 

 

▌Standard Robots Hosts 2024 Product Launch & Asia-Pacific Partnership Summit in Bangkok

 

Standard Robots, a leading industrial robot manufacturer, held its 2024 product launch and Asia-Pacific Partnership Summit in Bangkok, Thailand. On the event day, over 200 attendees, including more than 40 channel partners and 30 end-customers from seven countries—Thailand, Singapore, Vietnam, Malaysia, Indonesia, Australia, and Japan—participated in the summit. Standard Robots attracted over 30 invitations from end-customers.

 

Sustainable Business

 

▌Dida Chuxing Releases 2024 Report on Intelligent Safety Construction for Ride-Sharing

Dida Chuxing, a carpool service provider, has released its "2024 Report on Intelligent Safety Construction for Ride-Sharing". Based on recent safety practices, the report explores three aspects: traffic safety empowerment, intelligent proactive safety, and foundational platform safety guarantees. It aims to showcase new trends and advancements in ride-sharing platform safety construction.
 

▌AlphaESS Retains 'ESG Transparency Award' from EUPD Research

AlphaESS, a leading solar energy storage solution and service provider, has retained the 'ESG Transparency Award' presented by EUPD Research, an internationally renowned research institution. The award recognizes companies that truly commit to and implement environmental, social, and governance (ESG) practices.
 

▌PCG Power Wins 'ESG Pioneer Award' at 2024 CaiLian Press 'Zhiyuan Awards'

PCG Power, a comprehensive energy management service provider, has been recognized with the 'ESG Pioneer Award' at the 2024 CaiLian Press 'Zhiyuan Awards'. The Zhiyuan Awards honor outstanding enterprises that have demonstrated commercial and social value in the ESG field, contributing to sustainable development. The award evaluates companies across three dimensions: environmental responsibility, social responsibility, and corporate governance.

 

 

Honors

 

▌Hiway Wins 'Annual Product Technology Innovation Award' and Joins Hubei's Provincial Enterprise Technology Centers List

Hiway, a leading automotive component provider, has been honored with the 'Annual Product Technology Innovation Award' at the prestigious GGAI Award for 2024. The recognition was granted for Hiway's groundbreaking QD quantum dot film MiniLED automotive display technology, which has shown remarkable market performance.

Additionally, Hiway's technology center has been included in the newly released list of "2024 Hubei Provincial Enterprise Technology Centers" by the Hubei Provincial Development and Reform Commission. This inclusion further solidifies Hiway's position as a key player in the automotive technology sector, recognizing its commitment to innovation and excellence. 

 

▌Momenta's Self-Developed Autonomous Driving Middleware OBF-CM Certified by TÜV Rheinland with ISO 26262 ASIL D

Momenta, a full-stack autonomous driving solutions provider, has become the first company in China to obtain the highest level of functional safety product certification, ISO 26262 ASIL D, for its self-developed autonomous driving middleware OBF-CM from TÜV Rheinland.
 

 

▌Tuhu Automotive Wins 'High-Quality Service Typical Case' Award for Consumer Responsibility

Tuhu Automotive Service, an integrated automotive service provider, has been honored with the "High-Quality Service Typical Case" award for 2024 by the China Consumers Association at the Consumption Responsibility Dialogue Conference. The conference was hosted by China Consumer Magazine, the Zhejiang Provincial Consumer Protection Committee, and the Hangzhou Municipal Market Supervision Bureau. Tuhu Automotive was selected for its innovative user services, including the "Gold Quality Assurance" for tires and the "One Item, One Code" authentic traceability platform.
 

▌BIBO Wins GGAI's Annual Technology Breakthrough Award

BIBO, a leading provider of intelligent chassis solutions, has been honored with the 'Annual Technology Breakthrough Award' at the 2024 GGAI Awards. The company earned this distinction for its innovative integrated one-box brake control system, BIBC (One-Box). In July 2024, BIBC was officially delivered to customers in large quantities with high-quality assurance, garnering praise from OEM clients.

 

▌AUTO AI and YKC Selected for '2024 CYZone 100 Future Unicorns List'

AUTO AI, a leading provider of smart cockpit software and hardware, and YKC, a comprehensive energy management service provider, have been selected for the '2024 CYZone 100 Future Unicorns List' by CYZone. CYZone has been releasing the '100 Future Unicorns List' for sixteen consecutive years, selecting a total of 1,289 high-growth companies. According to Bestla data, 106 of these companies have successfully gone public, 91 have been acquired, and 105 have become unicorn enterprises.