Minghui Pharmaceutical Secures $131 Million in Pre-IPO Round Amid Surge in China's Primary Market Funding

The STAR Market Daily, August 9thAccording to data from Cailian She Venture Capital, there were 77 financing events in China this week (August 2 - August 8), increasing by 5.48% from 73 events last week. The total disclosed financing amount was approximately 3.769 billion yuan, up 1.48% from 3.714 billion yuan last week.

Popular Fields

In terms of the number of investment events, advanced manufacturing, healthcare, integrated circuits, new energy, and artificial intelligence were the most active fields this week. In terms of total financing amount, healthcare disclosed the highest total, approximately 2.033 billion yuan.Minghui Pharmaceutical Ltd.Completed a $131 million Pre-IPO funding round led jointly by Orbimed and Qiming Venture Partners, with participation from TF Capital, Boyuan Capital, 5Y Capital, True Light Capital, and Junyi Investment, marking the highest disclosed investment event of the week.

In the niche sectors, the areas that received more attention from investors this week include innovative drugs, sensors, medical devices, medical informatization, semiconductor materials, AIGC, humanoid bionic robots, and smart glasses.

For comparison, the performance of the secondary markets for innovative drugs, sensors, and humanoid robots this week is shown in the table below.

Popular Investment Rounds

In terms of investment rounds, apart from equity financing, the number of Series B financing events was the highest this week, with 20 occurrences, accounting for approximately 26%. This was followed by Series A and Seed/Angel rounds, each with 15 occurrences, respectively accounting for about 19%. In terms of the disclosed funding amounts across the various rounds, the total amount for Series C and later rounds was the highest, at approximately 1.641 billion yuan; followed by Series B, at around 1.238 billion yuan.

Active Investment and Financing Regions

From a regional perspective, companies in Guangdong, Jiangsu, Beijing, and Shanghai were more favored this week, with the number of financing events reaching 10 or more in each area. Guangdong led in financing activity with 20 events. In terms of individual cities, Shenzhen ranked first with 15 companies receiving investment, followed closely by Beijing, where 12 companies secured funding.

Active Investment Institutions

The following are some of the active investors this week:

Investment Events Worth Paying Attention To

METiS TechBio Completes RMB 400 Million Series D Financing

METiS TechBio, established in 2020, is a biotechnology company driven by AI-powered nanomaterial innovation, focusing on utilizing targeted drug delivery and discovery technologies. By integrating high-throughput experimental platforms with artificial intelligence computing, the company achieves automation and intelligence in drug delivery and formulation development, generating new drugs with clinical significance at scale.

The Enterprise Innovation Evaluation Lab shows that METiS TechBio has an A-level global scientific and technological innovation capability rating in the biopharmaceutical industry and is a national specialized, refined, distinctive, and innovative "little giant" enterprise. METiS TechBio and its holding subsidiaries currently have over 100 publicly disclosed patent applications, of which about 99% are invention applications, with 20 PCT applications. They have patent layouts in 8 countries/regions, primarily focusing on technical fields such as compositions, compounds, lipid nanoparticles, isotopes, and nanoparticles.

Recently, METiS TechBio announced the completion of a 400 million yuan Series D financing round, led jointly by the Beijing Medical and Health Industry Investment Fund and the Daxing District Industrial Investment Fund. The funds will accelerate the advancement of several strategic priorities for Metis TechBio Co., Ltd., including platform automation upgrades, the progression of its self-developed product pipeline, deepening international strategic cooperation, and the recruitment of top talent.

According to the data from Cailian She Venture Capital Pass - Zhizhong, with August 2025 as the forecast baseline, the predicted probability of METiS TechBio's financing in the next two years is 56.66%.

Data from VentureConnect shows the following partially funded cases in China's AI pharmaceutical R&D field in the past year.

METiS TechBio Completes Angel Financing Round Worth Hundreds of Millions of Yuan

Linker Hand, established in 2023, focuses on an embodied intelligence platform centered around “dexterous hands + cloud-based intelligent brain.” It has independently developed the Linker Hand series of dexterous hands, as well as related platform products such as motion capture teleoperation systems and a dexterous operation digital twin platform. Based on dual-domain synergy in both software and hardware, it helps enterprise clients, research institutions, and individual developers achieve real-world applications for dexterous hands.

The Enterprise Innovation Evaluation Lab shows that Lingxinqiaoshou has a global scientific and technological innovation capability rating of BB in the artificial intelligence field. It currently has 13 publicly disclosed patent applications, with invention applications accounting for over 84%. The main focus is on technical fields such as robotic arms, drive devices, robots, cosmetic cases, and lifting components.

Recently, the company announced the completion of an angel round of financing worth hundreds of millions of yuan. This round of financing was led byAnt GroupLed by new investors, with participation from CICC Capital, Shoufa Venture Capital, Shanghai Semiconductor Equipment Fund, Chengkai Fund, DT Capital, and Cocoon Capital. Existing shareholder Sequoia China Seed Fund also continued to increase its investment. The funds raised will be used to enhance the company's technical reserves and build an embodied intelligence data collection site, accelerating the practical application of dexterous hands.

According to the data from Cailian She Venture Capital Connect - Zhizhong, with August 2025 as the forecast baseline, the predicted probability of Lingxinqiaoshou's financing in the subsequent 2 years is 78.49%.

Data from Venture Connect shows that in the past year, some investment cases in China's robotics parts sector are as follows.

Guangzhou Xinxin Completes New Round of Equity Financing

Guangzhou Xinxin Technology Co., Ltd. was established in 2021. It is a high-tech enterprise focusing on the research, development, production, and sales of semiconductor photomasks. The company mainly serves fields such as semiconductor integrated circuits, flat panel displays, and micro-electromechanical systems, providing services including photomask manufacturing, pellicle film application, regular quality inspections, photomask cleaning and repair, and lithography-related consultations.

The Enterprise Innovation Evaluation Lab shows that Guangzhou Xinxin's global scientific and technological innovation capability rating in the core electronic industry is B-level. It currently has more than 40 public patent applications, of which about 83% are invention applications, with 2 PCT applications, mainly focusing on technical fields such as photomasks, application technology, exposure machines, defect locations, and critical dimensions.

Recently, the company has completed a new round of equity financing, adding ICBC Capital, BOC Capital, CNBM New Materials Fund, Jingguorui Fund, Xinwei Capital, Lanpu Venture Capital, Guangzhou Industrial Investment, and Guangzhou Financial Control Fund as shareholders. The registered capital has increased from 2.36 billion yuan to 2.8438 billion yuan.

According to the data from Cailian She Venture Capital Pass - Zhizhong, with August 2025 as the forecast baseline, the predicted probability of Guangzhou Xinxin's subsequent two-year financing is 27.02%.

Data from Venture Capital Connect shows the following partially invested cases in China's semiconductor materials sector over the past year.

List of Investment and Financing Events This Week

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