--- title: "Just now, a star IPO was born in Shanghai" type: "News" locale: "en" url: "https://longbridge.com/en/news/290634260.md" description: "On June 24th, Shanghai SEER TECH successfully listed on the Hong Kong Stock Exchange, becoming the \"first stock of the core brain of robotics,\" with an opening market value exceeding HKD 11 billion. The company was founded by Zhejiang University alumni Zhao Yue, Ye Yangsheng, and Wang Qun, with investments from institutions such as Prologis Hidden Hill Capital and Huachuang Capital. This listing marks an increase in the number of listed companies from Zhejiang University alumni, which now exceeds 320" datetime: "2026-06-24T02:35:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290634260.md) - [en](https://longbridge.com/en/news/290634260.md) - [zh-HK](https://longbridge.com/zh-HK/news/290634260.md) --- # Just now, a star IPO was born in Shanghai A star company from Shanghai has landed on the Hong Kong stock market. On June 24, under the leadership of Zhejiang University alumni Zhao Yue, Ye Yangsheng, and Wang Qun, SEER TECH successfully went public in Hong Kong, becoming the "first stock of the brain of robots (core stock)." As soon as it opened, this intelligent robotics company had a market value exceeding HKD 11 billion. With the sound of the listing bell, investors such as Hidden Mountain Capital under Prologis, Huachuang Capital, Ecovacs, IDG Capital, Hongtai Fund, Sequoia Capital, Haolan Capital, and Yuanqiao Asset also welcomed their harvest moment. At the same time, the number of listed companies from the Zhejiang University alumni network has increased by one. According to incomplete statistics, including SEER TECH, the number of listed companies created by Zhejiang University alumni has exceeded 320. More importantly, these star companies shining in various industries are forming a powerful wave of wealth creation. **Zhejiang University alumni entrepreneurship, a star IPO is born in Shanghai** The story of SEER TECH begins with its founder Zhao Yue. Back in 2007, he was admitted to the eight-year medical program at Zhejiang University’s Zhuke Zhen College. While taking pre-med courses, Zhao Yue also chose to study electronic information engineering and eventually discovered his greater interest in intelligent control. Thus, in his fifth year, he chose to drop out and re-enter Zhejiang University to pursue a master's degree at the Intelligent Control Research Institute. In an academic environment that emphasizes robotics (core stock) education, Zhao Yue not only learned theoretical knowledge but also led the Zhejiang University small group robot soccer (core stock) team to win the world championship in the RoboCup small soccer robot competition twice, laying the groundwork for his future entrepreneurial journey. Sensing the rapid rise of the robotics (core stock) industry in China, Zhao Yue, after graduating with his master's degree, came to Shanghai with fellow Zhejiang University alumni Ye Yangsheng and Wang Qun to establish Shanghai Xianzhi Robotics in 2015, starting to provide solutions for service and industrial robotics companies. Before long, the company quickly gained recognition from the market and capital. In 2016, Shanghai Xianzhi Robotics (core stock) achieved revenue of approximately 5 million yuan and completed a 6 million yuan angel round financing from Youzu Interactive. The following year, Zhao Yue once again led the team to win the world championship in the RoboCup small soccer (core stock) robot competition. By 2018, Ecovacs and Qianchen Investment also became shareholders of the company. During the process of serving clients, they also developed their own robots (core stock) and were involved in equipment design, scene adaptation, algorithm adjustments, and more. After some exploration, they found that clients in each industry had specific needs and gradually shifted their focus from robotics to controllers in the industrial sector. By 2020, Zhao Yue, along with Ye Yangsheng and Wang Qun, founded SEER TECH in Shanghai, using control systems as their entry point. Through controllers built into the robot (core stock) body and software running in the cloud, their control systems can achieve autonomous operation of intelligent robot bodies and collaborative work among various types of intelligent robots. "The controllers we make are equivalent to the brain of the robot (core stock)," Zhao Yue once explained. Their controllers are responsible for three parts: first is perception, which interfaces with laser radar (core stock) and camera surround sensors, allowing for plug-and-play; Secondly, there is intelligent decision-making, which can execute and decompose tasks; finally, it refers to the execution of command issuance. Relying on an open ecosystem and a plug-and-play controller architecture, this company has now achieved the delivery of over 2,000 robot (core stock) SKUs, successfully adapted over 400 core components, and cumulatively served more than 2,100 enterprises across 35 countries and regions globally, covering sub-sectors such as 3C, automotive, and automation equipment. Even more remarkable is that after six years of development, SEER TECH, which started in Shanghai, has not only grown into a star company but has also successfully listed on the Hong Kong stock market, ultimately becoming the "first stock of robot (core stock) brains." **Backed by IDG and Sequoia, it has raised funds up to Series C** Along the way, investors have also played an important role in the development of SEER TECH. Five months after its establishment, SEER TECH completed its Series A financing, with investors including Hillhouse Capital under Prologis, Huachuang Capital, Ecovacs, Qianchen Investment, and Hanchuan Intelligent. Since then, Hillhouse Capital has remained the largest external institutional shareholder of the company, holding 14.25% before the IPO. According to Dongfang Hao, Chief Strategy Officer of Prologis China and Chairman and Managing Partner of Hillhouse Capital, they have continuously supported SEER TECH from the early investment stage in building core technological barriers for the robot (core stock) control system, scaling the deployment of an open platform for intelligent robots, and making deep investments in expanding business in global markets. The smooth completion of this financing may also be attributed to Ding Xia's assistance. At that time, she had served as the Investment Director and Accelerator General Manager at Ecovacs and had been the Human Resources Director at Hanchuan Intelligent for some time. According to the prospectus, Ding Xia is not only Zhao Yue's wife but also the Vice President and head of the Board Office at SEER TECH. With the launch of products such as the lifting robot (core stock), robot controller SRC-2000, and intelligent forklifts, SEER TECH's recognition in the industry has grown, successfully attracting the attention of IDG Capital. By March 2021, this investment institution exclusively invested in them. IDG Capital has previously stated that SEER TECH, with its broad market prospects, empowers non-standard project demands with standardized products, meeting the control needs of logistics equipment across different categories and brands; at the same time, they have significantly improved clients' management efficiency regarding people, machines, materials, methods, and environment involved in on-site logistics by providing digital management tools. After the company officially launched its overseas business on a large scale, IDG Capital, along with Sequoia Capital and Haolan Capital, invested in them in December 2021. At that time, SEER TECH's commercialization was accelerating, and its full range of software products had been launched, completing the layout of its software product matrix. "SEER TECH's advantage lies in supporting non-standard application scenarios with standardized products, embedding all functions through standard core controllers and system software, enabling rapid deployment and large-scale applications," Sequoia Capital has stated, expressing confidence in the company's strategic direction. At that time, their view was that SEER TECH is establishing a control platform based on core controllers and has accumulated advantageous data on vehicle bodies, scenarios, etc., from various equipment manufacturers within the ecosystem, enabling reverse integration of products from manufacturers and integrators within the ecosystem to provide matrix vehicle body solutions to end manufacturing clients With the launch of new products and the further acceleration of commercialization, the company's revenue increased from 184 million yuan in 2022 to approximately 442 million yuan in 2025. It was during this process that Sequoia Capital not only purchased old shares from SEER TECH but also invested in them alongside Hongtai Fund in April 2025, raising their valuation to over 3.2 billion yuan. Although it is still in a loss-making state, SEER TECH's adjusted net loss continues to narrow, dropping to below 3 million yuan in 2025. During the IPO period, in addition to Hillhouse Capital subscribing for 118 million Hong Kong dollars as the leading cornerstone investor, Yuanbao, 3W, GF Fund, Ruifeng Investment, Zhonghe Capital, Yishao, and ACCF Capital also chose to support them. "The listing is just a starting point for us, motivating us with resources and confidence to quickly achieve our ultimate goal," Zhao Yue boldly stated in 2025, emphasizing that the most important thing for SEER TECH in the next five years is to truly build a platform or ecosystem for robots (core stocks). With the sound of the listing bell, Zhao Yue not only achieved his first IPO but also moved closer to his set ultimate goal. **Zhejiang University System, Mass Wealth Creation** After SEER TECH went public, another company from the Zhejiang University system joined the ranks of listed enterprises. Looking around, a number of companies founded by Zhejiang University alumni are rushing to the capital market. Since 2026, with the listings of companies like Biran Technology, Longqi Technology, and Gaote Electronics, the scale of listed enterprises in the Zhejiang University system continues to expand. An explosive scene occurred in April 2026, when six companies, including Hengdao Technology, Sige New Energy, Qunhe Technology, Changguang Chenxin, Huajin Technology, and Lianxun Instruments, collectively went public within about a week, deeply showcasing the power of Zhejiang University entrepreneurs. Notably, more IPOs with the Zhejiang University label are already on the way. Among those in line for listing are companies like Jiazhi Technology, co-founded by Xiong Rong, a distinguished professor at Zhejiang University, XREAL led by Xu Chi, a graduate of the Zhuke Zhen College of Zhejiang University, and Yundongchu Technology founded by Zhejiang University PhDs Zhu Qiuguo and Li Chao. These star companies from various industries are the reserve force of the Zhejiang University listing army. According to the "2025 Annual List of Innovation and Entrepreneurship in the Zhejiang University System," the total number of listed companies in the Zhejiang University system reached 317, with 34 unicorns, 229 potential unicorns, and 100 seed unicorns. Recently, it was reported that DeepSeek's first round of external financing exceeding 50 billion yuan is nearing completion, with a post-investment valuation close to 400 billion yuan. Among them, "2025 Annual Person of Innovation and Entrepreneurship in the Zhejiang University System" Liang Wenfeng will invest about 20 billion yuan, making him the largest single investor. According to media reports, Tencent, CATL, Puxuan Capital, NetEase, JD.com, Monolith Lisi Capital, IDG Capital, Zhengxin Valley Investment, Shixiang Technology, and the National Artificial Intelligence Industry Investment Fund will also participate in the investment in DeepSeek Although Liang Wenfeng once claimed that DeepSeek "does not seek financing, does not go public, and does not commercialize," his ideas are clearly adjusting with changes in the market environment. Coupled with policies that explicitly support artificial intelligence large model (core stocks) companies going public on the Sci-Tech Innovation Board, it is hard not to have expectations for DeepSeek's future IPO. Even more eye-catching is the over 46,000 active "Zhejiang University system" enterprises creating vast wealth across various fields. Among this grand wave of wealth creation, a recent focus has been on a new player in the A-share market—Lianxun Instruments. Founded by Zhejiang University alumnus Hu Haiyang, this company saw its stock price soar after going public in April 2026. As a domestic high-end optical communication (core stocks) testing equipment manufacturer, Lianxun Instruments' stock price skyrocketed 28 times in about two months, with a market capitalization exceeding 240 billion yuan. As of the close on June 23, their stock price reached 2,360 yuan, making it the "king of stocks" in the A-share market. The astonishing performance of Lianxun Instruments in the capital market is just the tip of the iceberg of the wealth creation ability of the Zhejiang University system. If we expand our view from a single listed company to the entire alumni group, the wealth map created by Zhejiang University alumni is even more impressive. Based on data from Forbes' 2026 Billionaires List, the educational technology website EssayHumanizer published the "Billionaires' Educational Background Report," which shows that Zhejiang University ranks fifth globally and first in China, with 36 individuals, including Liang Wenfeng and Pinduoduo founder Huang Zheng, collectively holding a total wealth of 152.3 billion dollars. Tracing back to its origins, this astonishing story began in 1897. After 129 years of development, Zhejiang University has upheld the motto of "Seeking Truth and Innovation," nurturing batch after batch of elites for society. Today, hundreds of IPOs are the fruitful results of the long-term efforts of Zhejiang University people. 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