Valued at 2.2 billion US dollars! Tsinghua alumni work together to create an IPO.

On June 16th, the Sci-Tech Innovation Board Daily News (Reporter Chen Mei) reported that recently, Hezhima Intelligence has passed the HKEX hearing and is expected to become the ‘first domestic self-driving calculation chip stock.’ The behind-the-scenes of this first stock is the cooperation of two Tsinghua alumni. According to the prospectus, Hezhima Intelligent co-founders Dan Jizhang and Liu Weihong both came from the Tsinghua system. Among them, Dan Jizhang received a bachelor’s and master’s degree in electronic engineering from Tsinghua University, and Liu Weihong received a master’s degree in chemical engineering from Tsinghua University.

In 2016, Dan Jizhang chose to quit his job and enter the entrepreneurship wave, and Liu Weihong did the same. The two of them focused their attention on the self-driving calculation chip field. As of IPO, the estimated value of Hezhima Intelligence co-founded by the two Tsinghua alumni has reached 2.23 billion U.S. dollars, becoming a unicorn in the field of ‘self-driving calculation chips’.

Valuation has grown by 122% in 5 years, with Xiaomi and Nio Capital investing.

Dan Jizhang and Liu Weihong’s entrepreneurship originated from a gathering of old friends. At a party, the two, who had rich experience in the chip and automotive industries, believed that artificial intelligence would profoundly affect the automotive industry when discussing the future development of the automotive industry. So, they hit it off and started their business, Hezhima Intelligence.

This is a self-driving calculation chip company. The company’s co-founder, Dan Jizhang, has more than 20 years of experience in the semiconductor field. He previously worked for a well-known imaging semiconductor company, OmniVision Technologies Inc, and was the vice president of the software engineering department. Liu Weihong, on the other hand, has rich professional knowledge and understanding in the automotive field. He has worked for Bosch Automotive Components (Suzhou) and General Motors (China) Investment Company.

The entrepreneurship of the two ‘old soldiers’ has resulted in Hezhima Intelligence being favored by capital since its inception. According to the prospectus, Hezhima Intelligence has undergone 10 rounds of financing, and its valuation has grown from 18.1 million U.S. dollars when it was founded in 2016 to 2.23 billion U.S. dollars at the C+ round of financing in 2021, a 122% increase over 5 years.

According to the prospectus, Aurora Venture Capital is the company’s A-round investor, with a total ownership of approximately 10.47%, with a cost per share as low as 0.1 U.S. dollars, corresponding to an equity value of 233 million U.S. dollars. Compared with the initial investment of 7.1 million U.S. dollars, this represents a 31-fold increase. Nio Capital also invested at A-1 and A-2 rounds of financing in 2017, with a low per-share price of 0.336 U.S. dollars. Lei Jun’s investment fund, Xiaomi Changjiang Industrial Fund, invested in 2021, and the cost per share has risen to over 3 U.S. dollars.

Xiaomi Changjiang Industrial Fund’s cost per share is 29 times that of Arctic Aurora Venture Capital’s. Calculated by Shanghai Ziyue Enterprise Management Consulting’s 3.69% stake before IPO, this equity corresponds to a value of 82.287 million U.S. dollars… Full article

Source: www.futunn.com