On October 18, "Xinghuan Technology," an investee company of Fangguang Capital and Qiming Venture Partners—both sub-funds backed by the mother fund managed by Yuanhe Chencun—officially listed on the STAR Market of the Shanghai Stock Exchange, with stock code: 688031.

StarRing Technology is an enterprise-level big data infrastructure software developer that provides foundational software and services covering the entire data lifecycle—spanning data integration, storage, governance, modeling, analysis, mining, and circulation. The company has established a robust portfolio of software products, including a big data and cloud-based platform, a distributed relational database, and advanced data development and intelligent analytics tools. These offerings empower customers and partners to build data-driven and business application systems, helping organizations accelerate their digital transformation journeys.

StarRing Technology focuses on R&D in fundamental software areas such as distributed technologies, database technologies, SQL compilation techniques, and data cloud technologies. The company is dedicated to addressing the big-data challenges faced by information systems that rely on traditional centralized software architectures. StarRing provides enterprises with cutting-edge big-data processing solutions capable of handling massive datasets, enabling rapid data flow, and supporting diverse data types—empowering users to unlock the full value hidden within their data. Through independent innovation, StarRing has achieved several significant technological breakthroughs and has been granted 77 domestic patents (including 74 invention patents) as well as 8 international patents.

StarRing Technology's products have been successfully implemented across more than ten industries, serving over 1,000 end-users. The company provides efficient data application services to key organizations such as the People's Bank of China, the China Banking and Insurance Regulatory Commission, the State Administration for Market Regulation, Central Government Bond Registration and Settlement Co., Ltd., the Ministry of Finance of the People's Republic of China, and the State Administration for Market Regulation. Other prominent clients include the Bank of China, State Grid Corporation of China, PetroChina, EMS, China Minsheng Bank, China Merchants Securities, Guotai Junan Securities, GF Securities, and Guojin Securities, among others.

As one of the pioneers driving China's indigenous big data foundational software, StarRing Technology will leverage its robust resource and technological capabilities to achieve efficient innovation. Supported by strong capital advantages, the company aims to upgrade its industry positioning, solidify its competitive edge in the market, explore new business models, enhance product competitiveness, and ultimately strengthen its influence within the industry.

This IPO will raise funds that will, on one hand, be allocated to ramp up investments in R&D and build stronger technological barriers, and on the other hand, support enhanced market promotion while also boosting ecosystem investments for StarRing Technologies.