Qiming Venture Partners adds two IPOs in a week, taking 2026 total to nine

Nasn Intelligent Tech listed on the Main Board of the Hong Kong Stock Exchange on August 7 under the stock code “2261.” Its shares rose more than 90% at one point after the market opened, giving the company a market capitalization of about HKD 11.8 billion (USD 1.5 billion).

Founded in 2016, Nasn provides brake-by-wire solutions for smart driving, with the aim of strengthening the self-reliance of China’s driving assistance supply chain. The company has used full-stack solutions to advance brake-by-wire technology, helping move the sector from initial adoption toward more sophisticated products.

According to China Insights Consultancy, Nasn was the first Chinese company to apply an electronic brake booster solution, also known as an NBS solution, in the commercial operation of Level 4 autonomous vehicles. It was also said to be the earliest Chinese company to supply its proprietary NBS solution to leading domestic electric vehicle OEMs (original equipment manufacturers). Based on brake-by-wire solution sales in 2025, Nasn ranked among China’s three largest domestically owned brake-by-wire solution providers and was the country’s second largest domestically owned independent third-party provider of such solutions.

Drawing on its R&D and production experience in automotive brake-by-wire technology, as well as its core capabilities in control algorithms, software, and hardware, Nasn has built a foundation for expanding into motion control applications for humanoid robots and low-altitude aircraft. The company is continuing to develop these areas as a potential second growth engine.

Since its founding, Nasn has received investment from several prominent institutions. Qiming Venture Partners co-led the company’s Series A funding round in 2018 and continued to support it in its Series B round. Before the IPO, Qiming held an 8.43% stake in Nasn, making it the company’s largest institutional investor.

“When we invested in Nasn Intelligent Tech in 2018, what stood out to us was the founding team’s determination to independently develop core X-by-wire chassis technologies and key components in China, as well as its solid technical capabilities and ability to commercialize those technologies,” said Duane Kuang, founding managing partner of Qiming Venture Partners.

“Amid the rise of smart driving, brake-by-wire systems and X-by-wire chassis are core hardware components that help ensure the safety of autonomous driving, creating significant room for domestic innovation. We are very pleased to see Nasn reach the milestone of entering the public markets.”

“Looking ahead, given the core capabilities it has accumulated in control algorithms, software, and hardware, we believe Nasn has the potential to extend its technological strengths into the core software and hardware of embodied robots, opening up a much broader market while continuing to reinforce its industry advantages and expand globally.”

Nasn’s IPO follows the listing of another Qiming-backed company. On August 5, Attovia Therapeutics, a clinical-stage biopharmaceutical company developing treatments for immune-mediated diseases, listed on Nasdaq under the ticker “ATTO.”

Attovia began operations in 2023 and focuses on developing next-generation biotherapeutics for immune-mediated diseases with significant unmet clinical needs. All of its drug candidates were discovered using the Attobody biologics platform, which is exclusively licensed worldwide from Alamar Biosciences, another Qiming portfolio company.

The platform uses an evolution-based high-throughput workflow to rapidly generate a diverse range of candidate molecules and supports the development of monospecific, bispecific, and trispecific biologics. Using the Attobody platform, Attovia has nominated three product candidates: ATTO-1310, ATTO-2306, and ATTO-1091.

“The global population of patients with immune-mediated diseases is enormous, while existing treatment options still leave substantial clinical needs unmet,” said Kan Chen, a partner at Qiming and co-lead of its healthcare practice.

“The differentiated Attobody technology platform licensed by Attovia from Alamar provides a powerful tool for developing complex multispecific biologics. Qiming has long focused on investing in foundational biopharmaceutical innovation. We have continued to invest in Attovia since its early stages and have watched the team advance its platform technology into the clinical stage.

“We look forward to seeing Attovia continue to develop innovative therapies that benefit patients around the world.”

With Attovia’s Nasdaq listing and Nasn’s Hong Kong debut, Qiming has recorded nine IPOs in 2026.

This article was adapted based on a feature originally written by Stone Jin and published on IPO Zaozhidao. KrASIA is authorized to translate, adapt, and publish its contents.

Note: HKD figures are converted to USD at rates of HKD 7.85 = USD 1 based on estimates as of August 11, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.