NIO Capital Updates

 

▌NIO Capital Leads Series A Funding in Shenghui Technology to Boost Green Hydrogen Development

 

Shengshui Technology, a full-chain solutions provider focused on key hydrogen materials and components, has secured Series A funding led by NIO Capital. The company specializes in the R&D and production of catalysts, proton exchange membranes, membrane electrodes, and testing equipment for PEM/AEM water electrolysis, and has partnered with hundreds of companies globally. The proceeds will support large-order delivery, R&D expansion, new factory construction, and daily operations to drive industry integration and upgrading. NIO Capital Partner Adair Lyu noted that green hydrogen is emerging as a trillion-yuan business, backed by global high-quality wind and solar resources and China's complete industrial chain advantages.

 

▌LuminX Completes RMB 1 Billion Pre-A Round with NIO Capital's Continued Support

 

LuminX, a computing chip developer focusing on decoupled distributed AI computing architectures, has completed a RMB 1 billion Pre-A funding round. NIO Capital, which previously participated in its angel round and led its angel+ round, continued to support the company in this round.

 

▌Zeron Secures RMB 1.2 Billion New Funding Co-Led by NIO Capital

 

Zeron, an electric and intelligent truck developer, has completed a new funding round of RMB 1.2 billion, co-led by NIO Capital. NIO Capital Partner Yao Li expressed confidence in Zeron's ability to capitalize on the rapid penetration of electric heavy-duty trucks, building both economic and data flywheels through scaled product deployment in real logistics scenarios, advancing heavy trucks from electrification to intelligence, and ultimately moving toward the ultimate transport robot.

 

▌NIO Capital Hosts "Future AI+ Organization" CEO Closed-Door Meeting

 

NIO Capital held a closed-door meeting for CEOs of its portfolio companies to discuss how AI can be integrated into corporate organizations. During the three-hour in-depth exchange, a clear observation emerged: AI penetration within enterprises follows an evolutionary ladder—from early experimentation to isolated successes, and then to systematic implementation—with each stage presenting its own characteristics and challenges.

 

Portfolio Updates

 

Milestones

 

▌CIX Technology Closes Nearly RMB 1 Billion Series B; Launches ClawCore Chip Series

 

Arm-based smart CPU developer CIX Technology has completed a Series B round of nearly RMB 1 billion. The funds will focus on scaled commercialization of existing products and the R&D and mass production of next-generation high-performance agent CPUs, accelerating the construction of an agent terminal ecosystem. 

 

The company also launched its first OpenClaw CPU family, the ClawCore series, which includes three products—ClawCore-P, ClawCore-A, and ClawCore-E—covering on-device AI, edge AI, and high-performance computing for various AI development and application scenarios.

 

 

▌LinkHou Secures Hundreds of Millions in Series B Funding

 

LinkHou, a robotics startup dedicated to becoming a world-class supplier of core components for intelligent manufacturing, has completed a Series B round worth hundreds of millions of RMB. NIO Capital previously led the company's Pre-B round.

 

 

▌Pony.ai's 7th-Gen Robotaxi Business Turns Profitable in Shenzhen

 

Autonomous driving company Pony.ai announced that its 7th-generation Robotaxi business achieved positive per-vehicle net income in Shenzhen in February 2026, with average daily net revenue per vehicle reaching RMB 338 and average daily orders per vehicle hitting 23. This marks the company's second key breakthrough in a tier-1 Chinese city, following Guangzhou last November.

 

▌Ronbay Technology Returns to Profitability in Q4; LMFP Sales Double

 

New energy material producer Ronbay Technology reported full-year 2025 revenue of RMB 12.271 billion with a net loss attributable to shareholders of RMB 182 million, but returned to profitability in the fourth quarter with over RMB 22 million in attributable net profit, signaling a gradual recovery in quarterly earnings. Full-year lithium iron manganese phosphate (LMFP) sales doubled compared to 2024.

 

▌Momenta Receives First ASIL D Certification for Key Safety Middleware; R7 World Model Coming Soon

 

Leading autonomous driving technology company Momenta has obtained ISO 26262 ASIL D functional safety product certification from TÜV Rheinland—the highest level—for its self-developed Execution Management (OBF-EM), State Management (OBF-SM), and Platform Health Management (OBF-PHM) middleware. The R7 reinforcement learning world model will soon make its global debut on SAIC Volkswagen's new flagship SUV, the ID. ERA 9X.

 

▌XREAL Launches nebulaOS 2; Three Flagship Glasses Shine at AWE 2026

 

AR glasses designer and manufacturer XREAL unveiled nebulaOS 2, delivering new design, interaction, and functional experiences for Beam Pro, including multi-app spatial anchoring, full-featured gesture interaction, system-level 3D SBS mode, and a glasses-first perspective. At AWE 2026, the ROG XREAL R1 made its domestic debut alongside the XREAL 1S and XREAL One Pro, winning both the AWE Innovation Award and the AWE Component Award.

 

▌CALB's Aviation-Grade Battery Enters Mass Production

 

Leading lithium battery technology enterprise CALB has commenced mass production of its aviation-grade battery, which serves as the core power system for the XPeng AEROHT X3-F flying car, also called the Land Aircraft Carrier. The battery meets aviation-grade safety standards.

 

▌BoCloud Launches Personal AI Assistant BoClaw and Government AI Assistant Subot

 

Cloud computing service provider BoCloud unveiled BoClaw, a personal AI assistant built on principles of "data remains within domain, fine-grained permissions, and customizable skills," integrating AI dialogue collaboration, skill expansion, multi-platform IM remote control, scheduled tasks, and five core security capabilities including domestic self-development and sandbox isolation, with local deployment support for Ascend chips.

 

The company also launched Subot, a government AI assistant developed jointly with Suzhou Computing Technology Company Limited and Suzhou Digital Government Security Technology Company Limited, as a domestically developed agent based on the OpenClaw concept.

 

▌Uxin Launches Used Car Project in Jiangsu

 

Uxin, a used car platform, has signed an agreement with the Jiangyin Lingang Development Zone in Jiangsu Province to invest RMB 1 billion in a jointly built automotive ecosystem smart manufacturing industrial park. The park will fully cover vehicle inspection, repair and refurbishment, warehousing and display, transaction delivery, and ownership transfer services.

 

▌United Winners Achieves Level 4 Smart Manufacturing Capability Maturity Assessment

 

United Winners, a supplier of laser welding equipment and intelligent manufacturing solutions, has passed the Level 4 assessment of China's national smart manufacturing capability maturity standard. Level 4, the "optimization" level, signifies that the company has moved beyond networked integration to achieve deep digital empowerment across core operations including design, production, management, and services.

 

▌PCG Power Obtains Virtual Power Plant Licenses in Guangdong and Shenzhen

 

Comprehensive energy management service provider PCG Power has secured virtual power plant operating licenses in Guangdong and Shenzhen. The company now holds operational qualifications across seven provinces and municipalities—Guangdong, Shenzhen, Jiangsu, Anhui, Zhejiang, Shanghai, and Hubei—covering the Pearl River Delta, Yangtze River Delta, and the Hubei-centered "Central Delta" region.

 

▌Dexmal's DM0 Model Recognized by NVIDIA and Physical Intelligence 

 

Embodied AI company Dexmal announced that its DM0 model, which integrates the core technologies of MemoryVLA and Real-time VLA, has been cited and adopted by industry benchmarks including NVIDIA and Physical Intelligence.

 

 

▌AlphaESS's 1GWh Project Selected for Inner Mongolia's First Independent Energy Storage List

 

Solar energy storage solution provider AlphaESS has had a 1GWh project included in Inner Mongolia's inaugural independent energy storage project list, marking the company's transformation from a system provider to a full lifecycle service provider for energy storage stations, offering "turnkey + guaranteed return" solutions.

 

▌Tuhu Releases 2025 Annual Report; Forms Strategic Cooperation with NIO

 

Integrated automotive service provider Tuhu reported full-year 2025 total revenue of RMB 16.5 billion and adjusted net profit of RMB 700 million, up 12.2% year-on-year. The company operates 8,008 "Tuhu Factory Stores," ranking first globally in store network size, with 162 million registered users. 

 

Separately, Tuhu has entered a strategic cooperation with EV maker NIO, focusing on user network operations and leveraging resource integration to provide personalized, high-quality services covering the entire vehicle lifecycle for both user bases.

 

Cooperation & Win-win

 

▌Seyond Supports Eacon in Surpassing 100 Million Safe Kilometers for Autonomous Mining Trucks

 

High-performance LiDAR solutions provider Seyond has played a key role in enabling autonomous haulage solutions provider Eacon to exceed 100 million kilometers of safe autonomous mining operations. 

 

Eacon presented Seyond with an "Excellence in Quality Award," recognizing the deep collaboration between the two companies and validating Seyond's LiDAR solutions for mining scene deployment.

 

▌INFY to Co-Build Shenyang Charging Network

 

Energy storage innovator INFY has partnered with Liao eCharge, an electric vehicle charging network operator, to jointly construct a supercharging network covering multiple districts and scenarios across Shenyang, capital of Liaoning Province, building an "urban energy security foundation."

 

▌HydoTech Collaborates with Shell on Industrial-Scale Smart Fiber Optic Monitoring

 

Green hydrogen solutions provider HydoTech is working with Shell to apply smart fiber optic sensing technology in industrial-scale green hydrogen production systems, enabling real-time temperature distribution monitoring of electrolysis cells.

 

▌Whale Provides AI Manufacturing Solution to Hengchang Lighting

 

Enterprise-level AI service provider Whale has deployed an AI manufacturing solution for Hengchang Lighting, enabling AI-driven production line inspection, personnel behavior management, and incoming material quality control, thereby improving product yield.

 

▌Pony.ai Robotaxi Integrates with Tencent Mobility; Forms Robotaxi Fleet with ONTIME

Autonomous driving company Pony.ai has integrated its Robotaxi service into Tencent's mobility mini-program, allowing Guangzhou users to hail autonomous vehicles. The service will also be available on the Tencent Maps app. 

 

Separately, Pony.ai has partnered with ONTIME, an online-hailing platform, to build a Robotaxi fleet, with the first batch of over 100 vehicles already connected to the platform and in operation. The vehicles have a design life of 600,000 kilometers, and the total cost of the autonomous driving kit has decreased by 70% compared to the previous generation.

 

Going Global

 

▌Pony.ai Forms Strategic Partnership with Verne and Uber to Launch Europe's First Commercial Robotaxi Service

 

Autonomous driving company Pony.ai has entered a strategic partnership with Verne and Uber. The three parties will integrate Pony.ai's autonomous driving system, Uber's global mobility platform, and Verne's service ecosystem and operations framework to launch Europe's first commercial Robotaxi service, starting in the Croatian capital of Zagreb. Initial deployment has already begun.

 

▌Shengshui Technology's German Partner AIP Secures European Distribution Rights

 

AIP, Shengshui Technology's German Partner, will serve as the European distributor for Hydrogen Contango, the Singapore-based subsidiary of Shengshui, responsible for promoting and selling the company's PEM and AEM water electrolysis testing equipment across Europe.

 

 

▌AlphaESS Opens Spanish Subsidiary; Showcases at Solar Solutions in the Netherlands

 

Solar energy storage solution provider AlphaESS has opened a subsidiary in Spain, serving as a strategic hub to penetrate the Iberian market and efficiently cover Spain, Portugal, and surrounding regions. 

 

The company also exhibited its full-scenario energy storage solutions and multiple new products at the Solar Solutions expo in the Netherlands, including the STORION-LC 836 liquid-cooled outdoor energy storage cabinet and the STORION TB500 liquid-cooled energy storage system.

 

 

▌HydoTech Exhibits at Japan Smart Energy Week and Geneva Inventions Expo

 

Green hydrogen solutions provider HydoTech presented at both Japan Smart Energy Week and the International Exhibition of Inventions Geneva, engaging with global industry partners on green hydrogen technologies, solutions, and application scenarios. 

 

▌Whale Explores AI Applications for Railways with France's SNCF

 

Enterprise-level AI service provider Whale held discussions with a delegation from SNCF Voyageurs, the French national railway company, to explore potential applications of AI in rail scenarios.

 

Sustainable Business

 

▌PCG Power Advancing 100MW of New Projects Globally 

 

Comprehensive energy management service provider PCG Power is pushing forward approximately 100MW of new projects in both China and international markets. These projects will supply green energy to multiple sectors including electronics, high-end manufacturing, new materials, automotive, and food.

 

▌CALB's "Zhiyuan" Marine Batteries Power Island Shipping and First Carbon Fiber Electric Official Vessel

 

Leading lithium battery technology enterprise CALB's "Zhiyuan" marine batteries have been deployed on the first batch of five pure battery-powered vessels for the Hong Kong Environmental Protection Department's waste-to-energy project, with the vessel "Xin Bei Yu" featuring the batteries. 

 

Additionally, the "Shen Ren An 1"—China's first carbon fiber single-engine electric propulsion official vessel certified by the China Classification Society (CCS)—has been officially delivered and put into operation at Shenzhen Reservoir, also powered by CALB's "Zhiyuan" marine batteries.

 

 

Honors

 

▌XREAL Named to Fast Company's "Most Innovative Companies" List

 

AR glasses designer and manufacturer XREAL has been included in Fast Company's "The World’s Most Innovative Companies of 2026" list, marking its third consecutive year on the list and fourth appearance in six years.

 

 

▌Hiway Receives Two "Excellent Supplier" Awards from ROX

 

Smart cockpit solution provider Hiway has won two "Excellent Supplier" awards from automaker ROX, with its product strength and delivery capabilities recognized by the company’s quality center and logistics center.

 

▌AlphaESS Selected for Jiangsu's First Core Tier of Virtual Power Plant Construction

 

Solar energy storage solution provider AlphaESS has been selected for the first core tier of virtual power plant construction in Jiangsu Province, based on its scaled deployments in user-side energy storage and distributed photovoltaics, as well as its mature virtual power plant operation capabilities.

 

▌AUTO AI's AI Cockpit-Parking Integrated Solution Named to China AI+ Application Top 50

 

Smart cockpit software and hardware provider AUTO AI's AI Cockpit-Parking solution, which integrates cabin-domain AI agents with assisted parking functions around a core of "active perception, collaborative decision-making, and continuous evolution," has been selected for the China AI+ Application Top 50 list.

 

▌PCG Power Named "Hangzhou High-Quality Credit Management Enterprise"

 

Comprehensive energy management service provider PCG Power has been included in the "Hangzhou High-Quality Credit Management Enterprise" list, jointly published by the Publicity Department of the Hangzhou Municipal Committee, Hangzhou Municipal Market Supervision Administration, and Hangzhou Municipal Development and Reform Commission.

 

▌United Winners Receives National "Green Factory" Designation

 

Laser equipment supplier United Winners has been honored as a national-level "Green Factory" in recognition of its practices in green manufacturing, energy conservation and consumption reduction, and environmental friendliness.

 

▌BIBO's One-Box Earns ISO 26262 ASIL-D Functional Safety Product Certification

 

Intelligent chassis solution provider BIBO announced that its One-Box product has obtained full ISO 26262 ASIL-D functional safety product certification, authorized by German accreditation body DAkkS. This marks the product's achievement of an extremely high standard in functional safety within the industry.