In August 2026, competition intensified around the evolution of AI large models toward Agents, the commercialization of embodied intelligence, and breakthroughs in frontier medical technologies such as brain-computer interfaces. The venture capital market exhibited notable characteristics including sustained strong interest in the AI sector, active financing activities in hard tech and healthcare, and robust global VC performance.

Against this backdrop, multiple portfolio companies of Efung Capital achieved consecutive breakthroughs in financing rounds and core business expansion.

Portfolio Company IPO and Financing Progress

Heluo Xintu
· Completed RMB 150 million Pre-A round financing, jointly invested by Efung Capital, Minjintou, and several industry institutions.

Xinyun Biotech
· Secured tens of millions of RMB in angel round financing, with Efung Capital as the investor.

Bonacia
· Bonacia submitted listing application to the Hong Kong Stock Exchange on August 20.

Portfolio Company Clinical and Commercial Updates

Yinnuo Pharma
· YN001 completed first global patient dosing for the international multi-center Phase 2b registration clinical study (PURIFY-TIMI 81), evaluating the world's first active targeted drug capable of reversing atherosclerotic plaque.

Huamai Medical
· Biyu bone repair material successfully registered with the Hong Kong Department of Health.

Keruichi
· Shanyuan® TraSphere® polyvinyl alcohol embolization microspheres were selected as the only tumor interventional device from Shenzhen for permanent exhibition in the tumor treatment section of a national high-end medical equipment exchange center.

Nuoling Biotech
· Signed a research transformation deepening cooperation agreement with Southeast University Nanjing江北 Innovation Institute on August 10 to advance nitric oxide therapy technology, clinical research, and technical standards development.

Huayuan Regenerative Medicine
· Received a visit from Deputy Director Chen Zhigang of the Hanyang District Organization Department on August 10 for inspection and exchange.

Kaiser Biotech
· Jointly published cover-featured research results in Device, a Cell Press flagship journal, in collaboration with Zhejiang University on intelligent control of core components for high-end medical instruments.

Tianqin Biotech
· Jointly unveiled six scientific innovation platforms with Tongji Hospital on August 18, including the Optics Valley AI Pharmaceutical Nonclinical Research Innovation Center.

Batai Medical
· Signed a strategic cooperation agreement with Trace Intervention to provide competitive precision intervention solutions in the varicose vein treatment field.

Biaoxin Biotech
· Completed first patient enrollment in Phase I clinical trial for GT818, a first-in-class oral targeted RSK bifunctional degrader for advanced malignant tumors.

Huamei Haolian
· Released its mid-year health management service report for 2026, covering over 60 million cumulative service recipients in the first half of the year.

Genuine Biotech
· Chief Medical Officer Dr. Guo Changyue attended the 2026 Xipu Summit and delivered a keynote speech titled "Targeting GRPR with Peptide Radiopharmaceuticals: Innovation and the Future."

Xunlu Biotech
· Announced the acquisition of MediSix Therapeutics, a Singapore-based immune cell engineering and cell therapy company, on August 13.

Yuanma Pharmaceuticals
· Insilico Medicine announced a research collaboration with Yuanma Zhiyao to explore individualized tumor vaccines and related innovative therapies.

Weiguang Medical
· The P80 OCT system completed its first clinical application in Peru at the National Guillermo Almenara Irigoyen Hospital on August 6.

Heyuan Biotech
· Completed all 2,000 subject exits in the Phase IV real-world study of Ofulmin® recombinant human albumin injection; also signed a strategic cooperation agreement with Tongji Hospital on August 25.

Beixin Life
· Released its 2026 semi-annual report with revenues of RMB 387 million, representing 49.4% year-over-year growth.

Tainuo Maibo
· Reported interim results with operating revenue of RMB 76.241 million, up 623.41% year-over-year.

Portfolio Company New Drug and Device Approvals

Proji
· NDA for recombinant human serum albumin injection (rHSA) for cirrhotic ascites officially accepted by the NMPA's CDE on August 18.

Beixin Life
· LotosPFA® approved for market launch—the world's first PFA system validated by RCT for routine local anesthesia.

Yingli Pharma
· YL-13027 tablets, a Type 1 innovative TGFβR1 (ALK5) inhibitor, received clinical trial approval for Phase II in fibrostenosing Crohn's disease.

Tuwei Anchuang
· TB-B002D injection received IND默示许可 for two rare disease indications: progressive pulmonary fibrosis and systemic sclerosis-associated interstitial lung disease.

Zhongmou Medical
· ZM-02 gene therapy candidate received NMPA clinical trial approval (Approval No. 2026LP02339).

Xunlu Biotech
· BLA for Equecabtagene Autoleucel (FUCASO) accepted by the Australian TGA.

Dingchi Biotech
· Received official production approval for "Dingliufa," a new trivalent inactivated vaccine against Newcastle disease, avian influenza, and infectious bursal disease.

Tansheng Wanwu
· Green power direct connection plan for its Ningxia project officially approved.

Kening Biotech
· Received clinical trial approval for osteoarthritis in Australia.

Portfolio Company Honors

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Heyuan Biotech: CMMM Smart Manufacturing Capability Maturity Level 3 certification; ISO 13485:2016 certification

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Xuanyu Medical: Recognized as a 2026 Shanghai "Specialized and Sophisticated" SME

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Heyuan Biotech Ofulmin®: Received "Wuhan Premium" advanced quality evaluation

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Xuanzhu Biotech: Awarded 2026 ESG Practice Pioneer Award

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Westlake Omi: Named a Hangzhou "Good Seedling" enterprise

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Maijing Gene: Scored 100% for 6 consecutive years in NCCL 2026 tumor NGS bioinformatics analysis EQA

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Kentuo Fluid: Awarded the Beijing New Technology, New Product, New Service Certificate

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Wimai Medical Taikon series DSA: Honored as a "Strategic Partner Supplier" by Megarobo

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Haipuluo Shenzhen and Shangrao labs: Scored 100% in 2026 tumor somatic mutation NGS bioinformatics EQA

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Biaoxin Biotech: Won first prize in the 11th Feixi "Chuangzhihui" dual-innovation elite challenge

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Efung Capital Honors

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Rongzhong: Efung Capital named Best Investment Institution in China's Healthcare Sector 2025–2026; CEO Zhu Pai named Best Investor in China's Healthcare Sector 2025–2026

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First New Voice: Efung Capital ranked in Q2 2026 China's Most Active VC Top 30 and Healthcare Most Active Investment Institution Top 10

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Jiazi Guangnian: Efung Capital ranked in 2025–2026 Healthcare Best Investment Institution Top 30

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TMT Post Venture Capital: Efung Capital ranked in 2026 H1 Pioneer List – Biopharma Top 20 and VC Top 20

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Qimingpian: Efung Capital ranked in China Best VC Active List Top 50, Comprehensive List Top 50, and Healthcare Investment Institution Top 20

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Efung Major Events

Invited to Speak at 2026 Global Unicorn Summit
· August 24–25, Dr. Zhu Jinqiao, Founder & Chairman of Efung Capital, was invited to speak at the Global Unicorn Summit held at the Hong Kong Convention and Exhibition Centre. He delivered a keynote speech titled "The Long-Term Value Investment Logic of Tech Unicorns," sharing insights on the growth paths and value discovery of unicorn enterprises from a capital perspective.

Efung Industry Research Articles

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Efung Knowledge Planet: "China's youngest generation of innovative drug leaders is rewriting the industry playbook from scratch"

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Efung Hard Sharing: "From rewriting sequences to rewriting 'software': the durable silencing paradigm of epigenome editing"

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