On June 30th, Beijing time, Unisound, a pioneer in the industrialization of AI technologies in China and a portfolio company of Qiming Venture Partners, has successfully debuted on the Hong Kong Stock Exchange. Unisound (SEHK:9678) was issued at HK$205.00 per share, with a market capitalization of HK$14.545 billion.
Qiming Venture Partners has been a long-standing investor in Unisound, first participating in the company's Series A funding round in 2013. Over the past decade, Qiming has continued to support Unisound through its Series B and D1 rounds.
Founded in 2012, Unisound is an AI company specializing in the conversational AI products and solutions for daily life and healthcare-related applications in China. Its business centers on empowering customers, including insurance providers and over 100 hospitals, with user-centric AI solutions that enhance operational efficiency and support better decision-making.
Leveraging a solid infrastructure, Unisound has advanced its R&D and productization capabilities. In 2019, the company launched UniCore, its first BERT-based large language model, which functioned as the initial core algorithm model of its central technology platform, UniBrain. In 2023, Unisound introduced UniGPT, UniBrain's new core algorithm model—a 60-billion-parameter large language model with generative multilingual and multimodal capabilities that enables human-machine interaction through dynamic reasoning and cross-modal data processing.
Dr. Huang Wei, Co-Founder and CEO of Unisound (left) and Dr. Liang Jia'en, Co-Founder, Chairman and CTO of Unisound (right)
"This IPO represents strong market recognition of China's AI technology commercialization and a meaningful step forward in the industrialization of AI technology," said Dr. Huang Wei, Co-Founder and CEO of Unisound. "We will continue to invest in core AI infrastructure and model development, cultivate talent, and strategically expand globally to bring our advanced technologies and products to the international markets."
"As an early investor in Unisound, we are delighted to have witnessed its remarkable leap from technological exploration to a successful IPO," said Duane Kuang, Founding Managing Partner of Qiming Venture Partners. "Unisound's listing marks a new chapter for the company and highlights the significant progress in the industrialization of AI in China. We look forward to seeing Unisound continue to push the boundaries of innovation, accelerate talent acquisition and development, and showcase the strength of Chinese AI companies. At Qiming, we remain committed to supporting companies like Unisound that combine deep technological expertise with strong commercial vision and long-term growth potential."
