

IPO|Momenta and EACON Successfully Listed on the Hong Kong Stock Exchange
NIO Capital portfolio companies Momenta, known as “the first physical AI stock” (06880.HK), and EACON, known as “the first global mining-area autonomous driving stock” (07687.HK), were both listed on the Hong Kong Stock Exchange on the same day.

Investment|NIO Capital Invests in “Token Factory” SiliconFlow Series B Financing
Over the past year, the company has provided efficient MaaS (Model-as-a-Service) through its Token Factory model. Its daily token call volume has reached trillions, serving more than 10 million users and 10,000 enterprise customers, with revenue increasing more than tenfold year-on-year.
Honors|Managing Partner Ian Zhu Selected for “PEdaily TOP 100 Investors”
NIO Capital Managing Partner Ian Zhu was selected for the 2026 “PEdaily TOP 100 Investors” list compiled by Zero2IPO, as well as 36Kr’s “Top 100 Most Entrepreneur-Friendly Investors” list. At the same time, NIO Capital ranked in the Top 40 on the “China Equity Investment Industry Venture Capital Institutions” list.
Insight|Partner Adair Lyu Shares His Investment Thesis on Embodied Intelligence at Industry Conference
Adair Lyu stated that from the robot body, the general-purpose foundation model “brain,” and the motion-control “cerebellum,” to the algorithmic infrastructure and data from real-world application scenarios, there is still vast room across the entire industry chain for technological innovation and industrial breakthroughs. He believes 2026 will be the first year of large-scale commercial deployment for the embodied intelligence industry.
Initiative|NIO Capital Launches Project Sparks
This is a special initiative focusing on young entrepreneurs and early-stage startup projects. The first offline salon under this program was held in Shanghai this month.

Podcast | CIX Inside: Breaking Through with Agentic CPU
In this episode, Hank Sun, founder and CEO of CIX Technology, joins a discussion on CPUs that are redefining value in the era of intelligent agents.
https://youtu.be/bFq-brXp3Bk?si=GtqEDY-4hViE4x_8
Podcast | AI Hits the Energy Wall: Industrial Breakthroughs from Compute Black Holes and Materials Bottlenecks to Ultimate Energy
NIO Capital Partner Dr. Carl Guan talks with representatives from PCG Power, Nanopore, Energy Singularity, and EACON.
https://youtu.be/s6UgGXk-uow?si=z9RZhZxAgzi80wPT
Portfolio Update|HydoTech Completes Series B+ Financing
NIO Capital portfolio company HydoTech announced the completion of its Series B+ financing. The strategic investors introduced in this round are all leading heavy-industry enterprises at the Fortune Global 500 level, and Aramco Ventures has increased its investment again.