The protagonist I will talk about today is well-known to all of you - Megvii, one of the AI Four Little Dragons, focusing on computer vision and deep learning related technologies and businesses.

Recently, this company's move into the field of intelligent driving has been uncovered.

According to industry sources, Yin Qi, co-founder and CEO of Megvii, has officially entered the intelligent driving sector to explore the deep integration of AI technology and the automotive industry.

Talented Yin Qi

Yin Qi was born in 1988 in Wuhu, Anhui Province. In 2006, he was admitted to Tsinghua University and selected into the prestigious Yao Class (Tsinghua Yao Class). During his sophomore year, he participated in the research and development of a face recognition engine at Microsoft Research Asia, which was later widely used in Microsoft products such as X-box and Bing.

Yin Qi later went to Columbia University to pursue a Ph.D. in 3D camera technology under the tutelage of a leading figure in the computational camera industry, during which he published several international patents and top-tier papers.

Yin Qi not only demonstrated exceptional talent in academia but also brought his wisdom into the business world.

In 2011, Yin Qi co-founded Megvii with Tsinghua University alumni Tang Wenbin and Yang Mu, serving as chairman and CEO.

Later, Megvii flourished and grew into a world-class AI company focused on IoT scenarios. Yin Qi and Megvii achieved mutual success and gained fame together.

However, today, Yin Qi is embarking on a new journey.

Starting in Chongqing

For this bet on autonomous driving, Yin Qi and others chose to start in Chongqing.

According to insiders, "Megvii's autonomous driving business has recently recruited many new employees, almost all of whom are located in Chongqing, indicating continuous recruitment efforts."

Yin Qi's choice is not accidental. Chongqing, as a leading city in China's automobile production, has leading enterprises such as Changan Automobile and Thalys, providing a vast application scenario and cooperation opportunities for Megvii's autonomous driving technology.

From January to June this year, Chongqing produced 1.214 million vehicles, ranking first among cities nationwide in terms of vehicle production. Among them, Changan Automobile and Thalys are local leading enterprises. Currently, Chongqing is also promoting the development of the smart and connected new energy automobile industry.

Company Name Reflects Vision: Smooth Rivers, Wise Horses

To distinguish Megvii's business and market positioning, Yin Qi has established a new company and new connections for intelligent driving.

The name of the company has a good meaning: Smooth Rivers, Safe Rivers, Wise Horses. Yin Qi establishes connections through holding shares or serving as a legal representative.

On July 1 this year, Chongqing Smooth Rivers Enterprise Management Co., Ltd. (hereinafter referred to as "Smooth Rivers") was established, with Yin Qi as the legal representative.

Taking Smooth Rivers as the starting point, the first line is the financial backer - the sole shareholder of Smooth Rivers is Safe Rivers, and Wise Horses has invested in Safe Rivers.

By the way, calling them financial backers is not entirely accurate because at the top of the food chain, Yin Qi personally invested in Safe Rivers and Wise Horses. The amount of investment determines Yin Qi's level of influence or say in these companies.

The other line is that Smooth Rivers is also a shareholder of another company. Smooth Rivers holds 100% equity in River Convergence and indirectly holds 900 million shares of Lifan Technology through River Convergence. Ultimately, Smooth Rivers becomes a shareholder of Lifan Technology, a listed automaker in Chongqing.

Lifan Technology, Yin Qi's "Big Brother"

After such a long circle, it can be seen that Yin Qi's target is Lifan Technology, the leading automaker in Chongqing.

Yin Qi indirectly holds shares in Lifan Technology through Smooth Rivers, which he controls, becoming a shareholder of Lifan and potentially entering the company's board of directors.

So, who is Lifan Technology?

Lifan Technology, formerly known as Lifan Group, was established in 1992 and listed on the Shanghai Stock Exchange in 2010. It was once the "king of domestic motorcycles," and its founder Yin Mingshan was once the "richest man in Chongqing." After entering the automotive sector, it had a peak sales volume of over 200,000 vehicles sold domestically and internationally but also experienced a dark moment in 2020 when it went bankrupt due to insolvency (Lifan Group was renamed Lifan Technology that year and became the listed platform for Geely's battery swapping business).

Lifan Technology's current business covers the research, development, production, and sales of passenger vehicles (including new energy vehicles), motorcycles, motorcycle motors, and general machinery. In 2023, Lifan Technology achieved a revenue of 6.768 billion yuan, with a cumulative sales volume of approximately 42,300 vehicles and approximately 24,600 new energy vehicles.

Meanwhile, Lifan Technology has a diverse shareholder structure, currently backed by multiple forces including the Chongqing government, Geely Group, Manjianghong Private Equity, and Megvii.

Lifan can be described as - broad business scope, skilled production lines, demonstrating strong strength; having weathered storms, backed by state-owned assets, adding resilience.

Yin Qi's controlling stake in Lifan Technology undoubtedly provides a strong boost to Megvii's development in the field of intelligent driving - industrial chain synergy, technology implementation, scenario support, AI "generalization", business model innovation... With an industry leader guiding the way, the benefits speak for themselves.

Megvii's Intelligent Driving, Long-planned

The intelligent automotive industry is one of Megvii's key layouts in recent years. Let me explain according to the timeline.

In 2018, Megvii demonstrated its in-vehicle AI vision solution, covering functions such as face unlock, account switching, driver recognition, and multimodal interaction.

By 2021, the company began to focus on developing intelligent driving solutions.

In 2023, Megvii disclosed its progress in the field of intelligent driving for the first time. Liu Wei, president of Megvii's intelligent driving business, told the media that year that the company's intelligent driving department had hundreds of employees, most of whom were algorithm researchers, with some responsible for delivery.

In July this year, 21st Century Business Herald reported that insiders from Megvii revealed that the company had been negotiating with some automakers, mainly focusing on the field of AI vision.

Currently, Megvii's intelligent automotive industry solutions have covered scenarios such as face unlock and start-up, intelligent driver recognition, and driver anomaly detection, and have achieved new results in this field.

With provisions ready and a stake in Lifan... Based on such preparations by Megvii, Yin Qi's entry into intelligent driving undoubtedly fills people with anticipation.