In the late stage of the epidemic, Dingdong Fresh set up a special group to ensure the supply of food baskets of Shanghai citizens, while increasing stock at the purchasing era, also for the posts in short supply such as sorter, distributor, etc., a number of measures were taken to ensure adequate manpower. Stations will also be stocked with sufficient disinfection and epidemic prevention supplies and medicines to ensure the safety of riders. In the meantime, Dingdong Fresh launches "centralized distribution over a large period of time" to temporarily postpone the previous service time of 30 minutes to that of two hours, to ensure sufficient transport capacity. In cities other than Shanghai, Dingdong Fresh has also been "recruiting" through multiple channels to satisfy the citizens' supply of basic fresh food.Starquest Capital's portfolio company Yuanxin Technology updated its prospectus on the Hong Kong Exchanges. According to the latest financial data, from 2018 to 2021, its business revenue was 819 million yuan, 2.352 billion yuan, 3.629 billion yuan and 5.938 billion yuan respectively, increasing steadily for four consecutive years. From January to August 2022, the total revenue of Yuanxin Technology is about RMB 4.7 billion, increasing by nearly 30% year-on-year.On November 6, 2022, Novartis and Yuanxin Technology signed a strategic cooperation agreement at the 5th China International Import Expo held in Shanghai, and will make comprehensive arrangements in online and offline pharmacies, innovative insurance payment, Internet hospitals and other channels accessible to patients in respect of breast cancer, skin diseases and other fields, so as to promote the health of the public. On November 7th, Pfizer held an innovation strategy contracting event with the theme of "Focusing Effort on Innovative Payment and Jointly Promoting Access to Patients" at the 5th China International Import Expo ("CIIE"). Pfizer signed the annual strategic cooperation agreement with Yuanxin Technology Group, agreeing to conduct in-depth cooperation in innovative business on all types of diseases in the future to contribute to the construction of "Healthy China 2030". The "2022 China Health Industry Summit Forum" held by China Business Journal was held online on 20 December, 2022. At the forum, a model case of Healthy China's innovative development was released, and Yuanxin Technology was awarded as "2022 China Economy Health National Trust Brand Enterprise".On 1 December, Hong Kong Quality Assurance Agency ("HKQAA") successfully held its annual international symposium themed "Sustainable Finance and Climate Resilience" in Hong Kong. At the "Hong Kong Green and Sustainable Finance Awards 2022" ceremony, Junlebao Dairy was recognized for its outstanding contribution and innovation in the green and sustainable development field. Nowadays, practicing sustainable development has become a global consensus, and an inevitable choice for China to upgrade its economy to a zero-carbon future and achieve high-quality development. As a firm practitioner of green and sustainable development strategy, Junlebao Dairy regards "sustainable development and carbon reduction" as a major social responsibility and an important strategic goal of enterprise development, and implants green development into every link, forming a complete and radiating deep and wide industrial chain layout.On December 10, the 6th 2022 United Nations Industrial Development Organization Global Science & Technology Innovation Conference was held in Shanghai. This is the first time that a Chinese dairy company has won the Global Technology Innovation Award, which shows to the world that China's dairy industry is ahead of the times with its "Fresh Milk Airtight Conveying System" patent technology.In the 4th quarter of 2022, the portfolio invested by Starquest Capital's GP in Technological Enterprise Services is in process of IPO.On October 6, 2022, CALB Co., Ltd ("CALB"), Firstred's portfolio company, a leading new energy technology company specializing in the research, design, production and sales of EV batteries and power storage products, was successfully listed on HKEX (HK: 03931) at an offering price of HK $38.00 per share, raising total proceeds of HK $10.102 billion. The company's market capitalization exceeded more than HK $60 billion on the first day of listing.In addition, over the past three months, a number of portfolio companies of Starquest GPs' have completed next round of financing in Technological Enterprise Services, Healthcare and Consumption.Technological Enterprise ServicesDi-Matrix, a portfolio company of Zhen Fund, announced the completion of Pre-B round of financing of nearly CNY100 million, jointly invested by three well-known investment institutions, i.e., GP Capital, Yonghua Capital and NanHong Capital. Moying Technology, a mobile collaborative robot manufacturer, completed CNY10 million of strategic financing, exclusively invested by Anda Automation. Ever Security, the full-stack API security SaaS platform, announced that it completed CNY40 million in a Series B round of financing which solely invested by CAS Investment. Dexforce, a 3D vision hardware and software product R&D enterprise, announced the completion of a Series Pre-A round of financing led by NewMargin Ventures. Huixi Technology, an autopilot chip company, completed over US $50 million in a Series Angel round of financing, strategically led by Xiaomi, other investors included CICV, Cathay Capital, Miracle Plus and GSR Ventures. Spacemit, a RISC-V chips enterprise, announced that it completed a Series Pre-A round of financing, led by Legend Capital. Other investors included Matrix Partners China, Brizan Ventures and Beyond Ventures.X-EPIC, a provider of EDA solutions for system level verification, the portfolio company of Zhen Fund and Gaorong Capital, completed hundreds of millions of yuan in a Series B round of financing, led by CLP Zhongjin Fund, a subsidiary of CICC Capital, other investors included Mirae Asset and etc.Accusilicon, a manufacturer of hybrid analog integrated circuits, the portfolio company of Gaorong Capital, completed hundreds of millions in a Series F round of financing, led by a subsidiary of SDIC.Source Code Capital's portfolio company, Pera Global, an IT and related software R&D provider, completed a new round of strategic financing by CRRC Capital.Hong Jing Drive, a service provider of full-stack automatic driving solution, the portfolio company of Linear Capital, completed hundreds of millions in a Series B round of financing, led by CITIC Gold Stone and also invested by Bo Jiang Capital, CCB Investment and other institutions. Salus BioMed, a sequencing and spatiomics platform, the portfolio company of Zhen Fund, announced the completion of a Pre-A round of financing, where the Pre-A1 round of financing solely invested by Qiwo Investment and the Pre-A2 round of financing co-led by Great Wall Fund and Qiwo Investment, with participation of Longping Biotech.The portfolio enterprise of Highlight Capital, Base Therapeutics, a pharmaceutical company using base editing technology to modify NK cells to treat cancer, completed a Series A round of financing, with Great Eagle leading the investment, and HLC, Baidu Venture Capital, Sincere Ventures, and GDHT Capital, etc. Vision X Med, the portfolio company that in the R&D, production and sale of hard corneal contact lens and scleral lens and the supporting medical equipments, completed a Series B+ round of financing with the amount of CNY340 million, which led by Temasek and Lake Bleu Capital; Sifary Medical, the manufacturer and supplier of root canal therapy solution and dental equipment, completed a Series B round of financing, with CGB leading the investment.Brattea, the Sherpa Capital's portfolio company, a leading enterprise in the field of renal artery denervation and radiofrequency ablation, completed hundreds of millions of yuan in a Series C round of financing. This round of financing was led by Jianxing Medical Fund and Fosun Health, with co-investment by Xinyi Investments, Yiyao Investments, and old shareholder Hengxu Capital. Imunopharm, a cell therapy biotechnology R&D company completed a Series D + round of strategic financing for hundreds of millions of yuan. This round of financing was jointly led by Beijing Zhongguancun Science City Innovation Development Co., Ltd. ("Beijing Zhongguancun Science City") and Beijing Innovation Industry Investment Co., Ltd. ("Beijing Venture Capital"). Leto Laboratories, a biotechnology company specializing in protein engineering, completed a Series C round of financing with the amount of over 100 million yuan, led by Zhongguancun Science City Company, with co-investment by Infinity Capital and HB Ventures.Silicon Bionics, a R&D manufacturer of implantable medical devices, the Source Code Capital's portfolio company, completed a Series D round of financing, co-invested by QHI Fund, Next Capital, Industrial Securities Capital and Shangshi Investment.Zhen Fund's portfolio company, Guanzhan, a nourishing technology brand, completed a Series B round of financing. Investors include Charisma Partners, Guangzhou Jinkong Fund, GF Qianhe and other institutions. Befor Capital continued to participate in the investment.Xiaohongdao, a new community retail service provider, the Source Code Capital's portfolio company of Xiaohongdao, completed tens of millions of yuan in a Series A round of financing, invested by Jinding Capital.Starquest Capital received multiple industry honorsStarquest Capital has been awarded several industry honors over the last three months by FOF Research Center, Chinese Venture, etc.On November 12, FOF Research Center officially released the 2022 Special List based on existing data support, research and analysis, in order to encourage the excellent institutions and talents in fund industry and promote the healthy development of the equity investment industry. Starquest Capital was also included in this Special List, and it was awarded as "TOP 20 'Unicorn' Market-oriented FOFs in 2022".On December 28, China Venture released the List of Limited Partners for 2022. China Venture has published the "China Venture Awards – the List of Limited Partners" as an independent third-party institution for 16 consecutive years. The list is classified based on the development of the primary market with strict standards and is known for its professionalism, authority and rigor. Therefore, it is also known as the indicator of the domestic equity investment industry. In this list, Starquest Capital was named as "China TOP 30 Most Favored FOFs by GP in 2022".On October 19, 2022, Mr. Frankie Fang, the founding managing partner of Starquest Capital, stated in AVCJ's report on domestic and overseas fundraising markets that: currently, internal and external circulation in China's market are relatively independent, and the difference between US dollar funds and RMB funds in terms of fundraising is constantly growing.On November 8, Mr. Frankie Fang was invited to participate in the 3rd session of the "ESG Dialogues", "Global Capital Markets and ESG Practice — Observations and Reflections from the NYSE", held by Tsinghua University PBC School of Finance ("Tsinghua PBCSF"), at which he shared with the guest speakers and participants his experience in ESG investment and practice in the primary market. As the Founding Managing Partner of Starquest Capital, Chairman of the ESG Committee of Startquest Capital, and an alumnus of Tsinghua PBCSF EMBA program, Mr. Fang pointed out that companies from different industries have different priorities for disclosing ESG information, and the issue of how to assess and identify ESG materiality profoundly affects their practice. Based on his own experience, he also asked how companies should consider and implement ESG strategies in the early stage of their incorporation.AVCJ, a leading private equity and venture capital information agency in Asia, held a Diversity and Inclusion Forum in Singapore on November 14, 2022. Mr. Frankie Fang was invited to attend and discussed how LP should build an inclusive and diversified private equity investment market. Meanwhile, Mr. Frankie Fang was also invited to participate in the ESG Forum held by AVCJ at the same time in Singapore, and discussed in depth how LP should deal with the transition risks brought by climate change.
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