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OrbusNeich Expands European Footprint via Acquisition of Italian Distributor

Hong Kong, Oct 20, 2026 - OrbusNeich Medical Group Holdings Limited (“OrbusNeich” or the “Group”; stock code: 6929), a multinational medical device company specializing in interventional devices for percutaneous coronary intervention (“PCI”) and percutaneous transluminal angioplasty (“PTA”), today announced that it has completed the acquisition of a 100% interest in MC Health S.r.l. (“MC Health”), its distributor in Italy. Following the completion of the transaction, MC Health has become a wholly-owned subsidiary of the Group.

Italy is one of Europe’s key interventional cardiology markets, with approximately 157,000 PCI procedures performed annually. The transition to a direct sales model through the acquisition presents a compelling opportunity for OrbusNeich to deepen customer relationships, enhance market responsiveness, and capture the full growth potential of its industry-leading coronary portfolio. Following the completion of the acquisition, OrbusNeich has immediately established a direct sales presence in Italy, supported by MC Health’s nationwide cath labs coverage.

Mr. David Chien, Chairman, Executive Director and Co-Chief Executive Officer of OrbusNeich, said, “This acquisition underscores OrbusNeich’s disciplined growth strategy and commitment to creating long-term value. As our trusted partner since 2019, MC Health is a natural fit for our company, strengthening our direct presence in Europe, unlocking commercial synergies, and expanding opportunities for collaboration on innovative technologies, including IVUS systems. Combined with MC Health’s strong expertise in the peripheral vascular field, the acquisition is also expected to accelerate the growth of our PTA portfolio across Italy and Europe, enabling us to reach and benefit more patients.”

Since its listing in Hong Kong in 2022, OrbusNeich has continued to accelerate the expansion of its global direct sales network. The acquisition of its Indonesian distributor in 2023 and Taiwan distributor in 2025 marked a significant milestone in this transformation, which supported the growth in Asia-Pacific region. With Italy joining its direct sales network, alongside the teams established earlier this year in the Netherlands, Belgium and Luxembourg, OrbusNeich now has direct sales operations in 16 markets worldwide, further strengthening its European presence and supporting sustainable long-term growth.

About MC Health S.r.l.

Founded in 2009, MC Health is a company engaged in medical device distribution in Italy. Established to address evolving and demanding market requirements, the organization operates as an agile, efficient partner serving public and private-sector hospitals and clinics. Its mission is to satisfy the need for quality medical devices and services by marketing cutting-edge treatments to both public and private hospitals and clinics, to increase the quality of life of thousands of people.

For more information, please visit the Company’s official website: https://www.mchealth.it/

About OrbusNeich Medical Group Holdings Limited

OrbusNeich is a multinational medical device company specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures. Headquartered in Hong Kong, China, the Group sells its products in more than 70 countries and regions worldwide. It is also actively expanding into structural heart disease. With an in-house R&D team boasting over 25 years of product development expertise, the Group has developed world-leading proprietary technologies.

For more information, please visit the Group’s official website: https://orbusneich.com/.

  1. Healthcare業聚醫療收購意大利經銷商 進一步擴展歐洲業務版圖香港, 2026年10月20日 - 專營經皮冠狀動脈介入治療（PCI）及經皮腔內血管成形術（PTA）手術介入器械的全球醫療器械公司業聚醫療集團控股有限公司（「業聚醫療」或「集團」；股份代號：6929）今日宣佈，已完成收購意大利經銷商MC Health S.r.l.（「MC Health」）100%股權。隨著收購完成，MC Health成為了集團的全資附屬公司。 意大利每年的PCI手術量達約157,000宗，是歐洲主要的心血管介入治療市場之一。集團藉是次收購將當地業務轉為直銷模式，除了能深化客戶關係並提升市場應變能力外，更可發揮旗下領先行業的冠狀動脈產品組合的增長潛力。收購完成後，集團可即時透過MC Health覆蓋意大利國內的心導管室，開展直銷業務。 業聚醫療董事長、執行董事兼聯席首席執行官錢永勛先生表示：「是次收購體現了業聚醫療有序推行增長策略，以及對創造長期價值的承諾。早於2019年起，MC Health已成為我們可靠的合作夥伴，一直合作無間。是次收購除了可增強我們在歐洲的直銷能力、釋放商業協同效應，同時有利拓展包括與IVUS系統等創新技術的合作機遇。此外，憑藉MC Health於外周血管領域的豐富專業知識，是次收購亦預計加快PTA產品組合在意大利及全歐洲的業務增長，造福廣大患者。」 業聚醫療自2022年在香港上市以來，一直致力加速擴充旗下全球直銷網絡。其中，集團於2023年及2025年先後收購印尼與台灣地區的經銷商，為亞太地區注入增長動力，標誌著直銷轉型策略的重要里程碑。隨著意大利市場加入直銷網絡，連同今年較早前於荷蘭、比利時及盧森堡成立的直銷團隊，業聚醫療不僅進一步鞏固歐洲業務版圖，亦將透過全球16個直銷市場，為長遠可持續發展奠定堅實基礎。 關於 MC Health S.r.l. MC Health於2009年成立，為一家意大利醫療器械經銷商。公司旨在應對不斷變化且日益嚴格的市場需求，為公私營醫院與診所提供靈活高效的合作支援。MC Health以提升大眾生活質素為己任，致力引進及推廣前沿治療方案，滿足公私營醫療機構對優質醫療器械與服務的需求。 如需瞭解詳情，請訪問公司官網：https://www.mchealth.it/ 關於業聚醫療集團控股有限公司 業聚醫療是一家全球醫療器械公司，專門生產用於經皮冠狀動脈介入治療（PCI）及經皮腔內血管成形術（PTA）的介入器械。集團總部位於中國香港，產品銷往全球超過70個國家和地區。集團亦積極將業務擴展至結構性心臟病領域。憑藉擁有逾25年產品開發經驗的內部研發團隊，集團已開發出世界領先的專有技術。 如需瞭解詳情，請訪問集團官網：https://orbusneich.com/
  2. Healthcare业聚医疗收购意大利经销商 进一步扩展欧洲业务版图香港, 2026年10月20日 - (亚太商讯) - 专营经皮冠状动脉介入治疗（PCI）及经皮腔内血管成形术（PTA）手术介入器械的全球医疗器械公司业聚医疗集团控股有限公司（“业聚医疗”或“集团”；股份代号：6929）今日宣布，已完成收购意大利经销商MC Health S.r.l.（“MC Health”）100%股权。随着收购完成，MC Health成为了集团的全资附属公司。 意大利每年的PCI手术量达约157,000宗，是欧洲主要的心血管介入治疗市场之一。集团借是次收购将当地业务转为直销模式，除了能深化客户关系并提升市场应变能力外，更可发挥旗下领先行业的冠状动脉产品组合的增长潜力。收购完成后，集团可即时透过MC Health覆盖意大利国内的心导管室，开展直销业务。 业聚医疗董事长、执行董事兼联席首席执行官钱永勋先生表示：“是次收购体现了业聚医疗有序推行增长策略，以及对创造长期价值的承诺。早于2019年起，MC Health已成为我们可靠的合作伙伴，一直合作无间。是次收购除了可增强我们在欧洲的直销能力、释放商业协同效应，同时有利拓展包括与IVUS系统等创新技术的合作机遇。此外，凭借MC Health于外周血管领域的丰富专业知识，是次收购亦预计加快PTA产品组合在意大利及全欧洲的业务增长，造福广大患者。” 业聚医疗自2022年在香港上市以来，一直致力加速扩充旗下全球直销网络。其中，集团于2023年及2025年先后收购印尼与台湾地区的经销商，为亚太地区注入增长动力，标志着直销转型策略的重要里程碑。随着意大利市场加入直销网络，连同今年较早前于荷兰、比利时及卢森堡成立的直销团队，业聚医疗不仅进一步巩固欧洲业务版图，亦将透过全球16个直销市场，为长远可持续发展奠定坚实基础。 关于 MC Health S.r.l. MC Health于2009年成立，为一家意大利医疗器械经销商。公司旨在应对不断变化且日益严格的市场需求，为公私营医院与诊所提供灵活高效的合作支援。MC Health以提升大众生活质素为己任，致力引进及推广前沿治疗方案，满足公私营医疗机构对优质医疗器械与服务的需求。 如需了解详情，请访问公司官网：https://www.mchealth.it/ 关于业聚医疗集团控股有限公司 业聚医疗是一家全球医疗器械公司，专门生产用于经皮冠状动脉介入治疗（PCI）及经皮腔内血管成形术（PTA）的介入器械。集团总部位于中国香港，产品销往全球超过70个国家和地区。集团亦积极将业务扩展至结构性心脏病领域。凭借拥有逾25年产品开发经验的内部研发团队，集团已开发出世界领先的专有技术。 如需了解详情，请访问集团官网：https://orbusneich.com/ Copyright 2026 亚太商讯. All rights reserved. www.acnnewswire.com
  3. AI常州微億智造科技股份有限公司全球發售 最高發售價每股股份21.46港元發售摘要： - 香港公開發售於2026年10月20日（星期二）開始，并于2026年10月23日（星期五）中午十二時正截止； - 全球發售股份數目：37,275,800股H股（視乎超額配股權行使與否而定）； - 香港發售股份數目：3,727,600股H股（可予重新分配）； - 國際發售股份數目：33,548,200股H股（可予重新分配及視乎超額配股權行使與否而定）； - 最高發行價：每H股21.46港元； - 每手【100】股； - 預期股份在2026年10月28日（星期三）於香港聯交所主板開始買賣。 香港, 2026年10月20日 - 常州微億智造科技股份有限公司（「微億智造」或「公司」，股份代號：03275）宣佈全球發售及於香港聯合交易所有限公司（「香港聯交所」）主板上市之計劃。 常州微億智造科技股份有限公司是一家專注工業具身智能機器人領域的科技企業，聚焦工業場景下具身智能技術的研發與商業化落地，業務主要涵蓋 EIIR 工業具身智能機器人、AI 賦能設備及模組類產品的研發、生產及銷售。公司完成核心算法、軟件及關鍵硬件的自主研發，構建搭載「雲—邊—端」一體化架構的軟硬件技術體系。自成立以來，公司戰略性聚焦真實工廠場景推進商業部署，憑藉產品在產線的規模落地持續沉澱現場數據，構建起「數據—模型—產品—再部署」的數據飛輪；依托真實工業場景積累的工業非結構化精標數據庫，為產品迭代、模型優化及高效商業落地提供重要戰略支撐。同時公司堅持持續投入研發，鞏固技術與數據維度的競爭壁壘，致力推動工業機器人由傳統自動化邁向智能化，助力製造業實現柔性升級的長期發展目標。 微億智造計劃發售的股份數目為37,275,800股H股（視乎超額配股權行使與否而定），其中，香港發售股份數目為3,727,600股H股（可予重新分配），國際發售股份數目為33,548,200股H股（可予重新分配及視乎超額配股權行使與否而定）。最高發售價為21.46港元，每手買賣單位為100股H股。 是次香港公開發售於2026年10月20日（星期二）開始，並預期於2026年10月23日（星期五）中午十二時正（白表eIPO服務申請於上午十一時三十分）截止。公司H股預期將在2026年10月28日（星期三）於香港聯交所主板開始買賣。 假設超額配股權完全不獲行使，倘發售價定為每股19.05港元（即發售價範圍的中位數），經扣除承銷佣金及估計開支後，估計全球發售募集資金淨額約為6.4億港元。公司擬將全球發售的所得款項淨額用作下列用途： 約60.3%將用於核心技術研發，以提升具身智能工業機器人 (EIIR) 產品的智能化水平與性能； 約10.6%將用於建立本地化的海外銷售及服務網絡，深化全球業務佈局； 約14.7%將用於戰略投資及收購，以構建開放共贏的應用生態系統； 約4.4%將用於擴大生產製造能力； 約10.0%將用作營運資金及其他一般企業用途。 東方融資（香港）有限公司為獨家保薦人。易北萊茵投資有限公司為基石投資人。 關於常州微億智造科技股份有限公司 常州微億智造科技股份有限公司成立於 2018 年，是一家工業具身智能機器人產品提供商。公司構建以雲平台為大腦的「雲—邊—端」一體化技術體系，致力於通過AI與工業機器人的深度融合，為全球製造業客戶提供柔性、高效的智能化解決方案，推動工業場景從自動化向智能化的轉型。公司主要從事EIIR工業具身智能機器人、AI 賦能設備及模組類產品的研發、生產及銷售。
  4. FinanceChangzhou Microintelligence Global Offering, Maximum Offer Price HK$21.46 per ShareOffering Summary: - The Hong Kong Public Offering will open on Tuesday, October 20, 2026 and close at 12:00 p.m. on Friday, October 23, 2026 ; - Total number of Offer Shares under the Global Offering: 37,275,800 H Shares (subject to the Over-allotment Option); - Number of Hong Kong Offer Shares: 3,727,600 H Shares (subject to reallocation); - Number of International Placing Shares: 33,548,200 H Shares (subject to reallocation and the Over-allotment Option); - Maximum Offer Price: HK$21.46 per H share; - Board lot size for trading: 100 H Shares per board lot; - Expected listing date on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”): Wednesday, October 28, 2026. Hong Kong, Oct 20, 2026 - Changzhou Microintelligence Co., Ltd (“Changzhou Microintelligence” or “the Company”, stock code: 03275.HK) announces its Global Offering and proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Changzhou Microintelligence Co., Ltd. is a technology company focused on Embodied Industrial Intelligent Robots (EIIR). The Company concentrates on the research, development and commercial deployment of embodied intelligence technologies for industrial settings, with its business mainly covering the research and development, production and sale of EIIR products, AI-empowered equipment and modular products. The Company has completed full-stack in-house development of core algorithms, key software and hardware, has built a software and hardware technology system based on its “Cloud-Edge-Device” integrated architecture. Since its establishment, Changzhou Microintelligence has strategically focused on real factory scenarios to advance commercial deployment. As its products roll out at scale on production lines, the Company has continuously accumulated on-site data and built a “data-model-product-redeployment” data flywheel. Its database of precisely labelled unstructured industrial data, accumulated from real industrial settings, provides important strategic support for product iteration, model optimisation and efficient commercial deployment. The Company also continues to invest in research and development to strengthen its competitive barriers in technology and data and commits to driving industrial robots from traditional automation towards intelligence and supports the long-term development goal of flexible upgrading in manufacturing. Changzhou Microintelligence plans to offer 37,275,800 H Shares (subject to the Over-allotment Option), comprising 3,727,600 Hong Kong Offer Shares (subject to reallocation) and 33,548,200 International Placing Shares (subject to reallocation and the Over-allotment Option). The Maximum Offer Price is HK$21.46, and the board lot size for trading is 100 H Shares. The Hong Kong Public Offering commenced on Tuesday, October 20, 2026, and is scheduled to close at 12:00 p.m. on Friday, October 23, 2026 (applications via White Form eIPO service will close at 11:30 a.m. on the same day). The H Shares of the Company are expected to commence trading on the Main Board of the Stock Exchange on Wednesday, October 28, 2026. Assuming the Over-allotment Option is not exercised and the Offer Price is set at HK$19.05 per share (being the mid-point of the Offer Price range), after deducting underwriting commissions and estimated offering expenses, the Company estimates that the net proceeds to be raised from the Global Offering will amount to approximately HK$640 million before the exercise of any Over-allotment Option. The Company intends to allocate the net proceeds from the Global Offering as follows: Approximately 60.3% will be used for core technological research and development to enhance the intelligence and performance of Embodied Industrial Intelligent Robots (EIIR) products; Approximately 10.6% will be used to establish a localised overseas sales and service network and deepen global business presence; Approximately 14.7% will be used for strategic investments and acquisitions to build an open and mutually beneficial application ecosystem; Approximately 4.4% will be used to expand production and manufacturing capacity; Approximately 10.0% will be used as working capital and for other general corporate purposes; Orient Capital (Hong Kong) Limited is the Sole Sponsor. Elbe Rhein Investment Limited is the Cornerstone Investor. About Changzhou Microintelligence Co., Ltd Changzhou Microintelligence Co., Ltd. was founded in 2018, is a provider of Embodied Industrial Intelligent Robots (EIIR) products in China. The Company has built a software and hardware technology system based on its “Cloud-Edge-Device” integrated architecture. It is dedicated to the deep integration of AI and industrial robotics, providing flexible and efficient intelligent solutions to manufacturing customers worldwide and driving the shift in industrial settings from automation to intelligence. The Company principally engages in the research and development, production and sale of EIIR products, AI-empowered equipment and modular products.
  5. FinanceLutian Global Energy Partner Conference 2026 Successfully Held, Comprehensive Solar-plus-Storage Solutions UnveiledTaizhou, China, Oct 20, 2026 - On October 13, 2026, the "Lutian Global Energy Partner Conference 2026," hosted by Lutian Machinery Co.,Ltd.(605259.SH), took place in Taizhou, Zhejiang. The event featured a tour of the company’s production facilities, thematic forums, the launch of comprehensive solar-plus-storage solutions for diverse scenarios, and the signing of strategic partnership agreements. Over 200 key distributors and partners from countries around the world participated, joined by industry experts who engaged in discussions on new energy market trends, technological pathways for solar-plus-storage, and global collaboration. The summit showcased LUTIAN’s full-spectrum solar-plus-storage capabilities—encompassing inverters, batteries, integrated solar-plus-storage units, and commercial/industrial energy storage systems—and introduced an upgrade plan for the company’s global service network. Production Base Tour: Showcasing Manufacturing Systems and New Energy Production Lines During the conference, attendees visited LUTIAN’s Taizhou production base, touring the product showroom, the smart energy center, and the energy storage manufacturing facility. The tour included stops at precision assembly lines, automated quality inspection stations, and mass-production units for energy storage products, demonstrating to global partners how LUTIAN has expanded its manufacturing ecosystem from general power equipment to solar-plus-storage solutions. LUTIAN operates four major R&D centers—located in Taizhou, Shanghai, Chongqing, and Suzhou—along with a CNAS-accredited national laboratory and a laboratory operated in partnership with TUV. With over 300 proprietary intellectual property rights, the company possesses a robust R&D foundation that drives the continuous iteration and advancement of its solar-plus-storage product portfolio. Showcasing Technical Capabilities: From Technology Accumulation to Solution Implementation At the conference, LUTIAN systematically presented its solar-storage solutions for the global market, covering four major categories: energy storage inverters, energy storage batteries, integrated photovoltaic and energy storage systems, and commercial and industrial (C&I) energy storage systems. The power range covers 500 W to 250 kW, and the energy storage capacity ranges from 1 kWh to 5 MWh. This series of products targets diverse scenarios such as home energy storage, outdoor operations, emergency backup power, and small commercial and industrial applications, featuring modular design, flexible capacity expansion, and plug-and-play capabilities. LUTIAN stated that the company has accumulated extensive technical patents in core components such as inverters, BMS, and EMS, and uses AI to optimize energy scheduling and improve system operating efficiency. LUTIAN also revealed that it is laying out next-generation energy infrastructure along the main line of power electronics, expanding into areas such as AIDC intelligent computing center integrated power supply and SST solid-state transformers. Market Assessment: Global Energy Storage Demand Shows Structural Growth During the conference, LUTIAN shared its assessment of the global energy storage market from an industry perspective. The company believes that demand for residential energy storage remains strong in high-electricity-price regions such as Europe and North America, while regions with weak power infrastructure, such as Africa and Southeast Asia, have a rigid demand for emergency backup power and off-grid solutions. The global energy storage market is showing a trend of structural growth. This assessment aligns with LUTIAN’s own business performance. In full-year 2025, the company’s energy storage business achieved revenue growth of 347.93% year on year, and its second growth curve is accelerating its formation. Global Footprint: Focusing on Overseas Markets and Upgrading Service Networks In terms of market strategy, LUTIAN has clearly prioritized overseas markets, continuing to deepen its presence in key regions where it holds a competitive advantage. In response to the industry trend toward the commoditization of photovoltaic energy storage hardware, LUTIAN has announced an upgrade to its global service network, shifting the focus of competition from product performance to service capabilities and long-term asset value. The company is advancing the development of its service system across four dimensions: digitalization, localization, standardization, and normalization. LUTIAN has pledged to uphold its partnership commitments—characterized by efficient responsiveness, transparent processes, a focus on empowerment, and shared risk—while leveraging a service system that spans the entire product life cycle as its core competitive advantage. Signing of Cooperation Agreement: Reaching a strategic partnership intent with key partners During the conference, LUTIAN reached a strategic cooperation agreement with a key strategic client, and an on-site signing ceremony was held. The partnership will focus on areas such as expanding into the new energy market, developing distribution channels, and promoting products. At the conference, LUTIAN reaffirmed its long-term partnership positioning: for partners already operating within the new energy sector, LUTIAN provides support rooted in shared technological origins, an unwavering commitment to quality, and end-to-end supply chain delivery capabilities; For partners who have yet to enter the new energy sector, LUTIAN is prepared to share its resources—including technology, manufacturing capabilities, certifications, and market access—to help facilitate a smooth transition from traditional power sources to new energy solutions. About LUTIAN Founded in 2002 and listed on the Main Board of the Shanghai Stock Exchange in 2021 (stock code: 605259), Lutian Machinery Co., Ltd. is an enterprise dedicated to the R&D, manufacturing, and sales of general-purpose power machinery, high-pressure washers, and new energy storage products. The company operates four R&D centers—located in Taizhou, Shanghai, Chongqing, and Suzhou—as well as five production bases, with products exported to over 100 countries and regions worldwide. In recent years, LUTIAN has accelerated its strategic deployment in the solar-plus-storage sector, building an end-to-end energy ecosystem that encompasses power generation, storage, and consumption. Its energy storage business is rapidly emerging as the company’s second growth curve. Company: Lutian Machinery Co.,Ltd. Contact Person: Dillon Wang Email: [email protected] Website: https://www.chinalutian.com/ Telephone: +86-576-82620999 City: Taizhou, Zhejiang, China
  6. AI強強聯合！智譜、將門、量化派等共同參投10億元認知智能創投基金 聚力物理AI產業生態香港, 2026年10月20日 - AI產業競爭已從單點技術比拼，邁入底層生態與產業鏈協同的新階段。近期，大模型龍頭智譜在一級市場的LP佈局再添一筆，聯合將門創投設立認知智能創投基金，“物理AI”世界基礎模型提供商量化派（02685.HK）現身LP名單。 工商信息顯示，浙江智譜將門認知智能創業投資合夥企業（有限合夥）已於9月24日在杭州市上城區註冊成立，出資額10億元，經營範圍為創業投資（限投資未上市企業）。從出資結構看，該基金呈現"地方國資+產業方+專業機構"的組合。杭州上城領航創業投資有限公司、杭州城投產業發展投資合夥企業（有限合夥）兩家國資背景出資方合計持有六成份額；其餘出資方包括智譜旗下浙江智譜新篇科技有限公司、港股上市公司量化派（02685.HK）旗下海南量化派科技有限公司、海南何尊投資有限公司，以及杭州驥智企業管理咨詢有限公司。其中，基金執行事務合夥人為杭州驥智企業管理咨詢有限公司，委派代表為將門創投創始合夥人杜楓。各合夥人認繳出資期限至2031年9月。 業內普遍認為，行業頭部廠商聯手做生態的成功率更高，形成“強者恆強”的馬太效應。誰能在生態位上率先聯合，誰就能提前鎖定下游場景與早期項目資源。這恰恰是智譜擅長的打法：2025年，智譜攜手電光數智顯示龍頭洲明科技（300232.SZ）、元客視界共同出資設立深圳市智顯機器人科技有限公司，構建AI智能終端領域創新生態體系。在能源賽道，科大訊飛與中國石油、中國移動、華為聯手打造崑崙大模型，助力中國石油打造AI+能源新標桿。 在LP名單中，量化派的出現頗受關注。作為港股"智能物種"第一股，量化派定位為“物理AI”世界基礎模型提供商，近年來推進"電商AI解決方案+物理AI"雙輪佈局，依託成熟消費業務現金流反哺前沿技術研發。而基礎設施提供商最核心的能力，正是生態建設能力：把上游模型、中游本體、下游場景和資本方串聯起來，在物理AI的早期階段佔據生態樞紐位置。生態層面，公司攜手字節跳動火山引擎、東港股份（002117.SZ）旗下北京瑞宏具身智能機器人科技有限公司、車無界等夥伴搭建具身智能產業生態，業務邊界從餐飲後廚延伸至汽車展廳等線下實體空間。此次以LP身份參與智譜、將門聯合設立的認知智能基金，被視為其在物理AI領域向產業鏈上游延伸、提前對接大模型能力與早期項目資源的又一動作。 與大模型第一股共建生態，成功率天然更高，雙方可以充分發揮所長，優勢互補，快速打造行業標桿解決方案。1月8日，智譜（02513.HK）在港交所掛牌，成為"全球大模型第一股"。5月，智譜全資子公司北京智譜未來科技有限公司與國泰海通全資子公司國泰君安創新投資有限公司在上海張江聯合設立規模5.4億元的AI產業基金。更早之前，智譜於2024年領銜設立AGI生態基金"Z基金"（星連資本），首關管理規模15億元。根據智譜2025年財報披露的數據，截至2025年末，星連資本（Z基金）整體價值達到13.027億元，已累計投資超30家AI企業。 此次與智譜合作的將門創投，專注於發掘技術驅動型創業公司的早期創業投資機構，主要投資方向為人工智能領域的基礎技術及其行業應用，亦是智譜A輪融資的投資方之一，雙方合作淵源深厚。基金名稱中的"認知智能"，與智譜的大模型技術路線一脈相承。基金落戶杭州，也延續了智譜與杭州的合作淵源：2025年3月，智譜曾獲杭州城投產業基金、上城資本等杭州市屬國資參與的超10億元戰略融資。 有創投行業人士分析，對於正在向物理AI方向拓展的企業而言，以LP身份參與頭部大模型企業牽頭的產業基金，在獲取財務回報之外，也有助於提前接觸上游模型能力和早期項目資源。隨著大模型競爭逐步從單純的性能比拼轉向生態體系競爭，產業方以出資人身份進入一級市場的現象正在增多。