1. Yin Qi emerged as a prominent figure in China’s early artificial intelligence (AI) boom, especially around deep learning and image recognition applications. Recently, Yin has re-entered the public eye by taking on the chairmanship of StepFun, a Chinese large language model (LLM) startup, after the company completed a Series B+ funding round raising over 5 billion yuan ($717 million) in January 2025. StepFun’s management also includes CEO Jiang Daxin, chief scientist Zhang Xiangyu, and CTO Zhu Yibo. This appointment marks a strategic shift for Yin, focusing on the integration of generative AI with consumer devices like smartphones and intelligent automobiles, leveraging his prior experience leading both hardware and AI firms.[para. 1][para. 2][para. 3][para. 4]
2. Yin’s ambition is to create synergy between AI software and hardware, aligning StepFun’s strategy with the commercialization of advanced technologies, particularly in vehicles and smartphones. With industry connections, such as those at Geely and Chongqing Qianli Technology Co. Ltd., Yin is set to fast-track the deployment of StepFun’s AI models, especially in automotive and mobile use cases. StepFun’s approach is distinguished by its emphasis on hardware integration—an area where Yin has significant expertise.[para. 4][para. 10][para. 11]
3. Yin Qi’s personal journey epitomizes the archetype of a “tech prodigy.” Hailing from Anhui, he was an academic star, joining Tsinghua University’s esteemed “Yao Class” in computer science after excelling in local exams. He developed his AI skills through an internship at Microsoft Research Asia, where he led a facial recognition project later incorporated in Windows and Xbox. In 2011, Yin co-founded Megvii, one of China’s “four AI dragons,” pivoting from academia to the emerging field of commercial facial recognition.[para. 5][para. 6][para. 7][para. 8]
4. Realizing the necessity for hardware-software integration in successful tech commercialization, Yin briefly pursued doctoral studies in 3D cameras at Columbia before returning to China, leading Megvii full-time as CEO. Megvii’s Face++ platform, launched in 2012, met robust security sector demand, helping the company to rapidly commercialize its facial recognition technology, ultimately achieving a valuation of 30 billion yuan and employing over 2,000 people by 2019.[para. 8][para. 9]
5. Megvii’s progress stalled abruptly when the U.S. government added it to the Entity List in October 2019, restricting access to American technology and causing its Hong Kong IPO plan to collapse. Megvii then sought to list on Shanghai’s STAR Market, but market risks and operational losses—for example, a net loss of 2.8 billion yuan in the first nine months of 2020—prevented its success. Megvii withdrew its listing application in November 2024 amid high staff turnover and the departure of key co-founders.[para. 10][para. 12][para. 13][para. 14][para. 31]
6. As Megvii’s IPO efforts faltered, Yin shifted focus to smart automotive technology, becoming chairman of Qianli Technology. Geely, Qianli, and StepFun subsequently forged an alliance to develop intelligent vehicles, culminating in agreements and collaborative releases like the Agent OS intelligent cockpit system, which incorporates StepFun’s multimodal AI to allow natural human-vehicle interaction.[para. 15][para. 16][para. 17][para. 51][para. 52][para. 53]
7. While Yin’s initial commercial aspirations for facial recognition centered on consumer entertainment, real commercial opportunities arose through enterprise partnerships in security, finance, and smartphone sectors—servicing government bureaus, Alipay, China Merchants Bank, and device manufacturers like Vivo and Xiaomi. Megvii achieved exceptional revenue growth, with revenue surging 210.3% in the first half of 2019 year-on-year.[para. 20][para. 21][para. 22][para. 23][para. 24]
8. The release of OpenAI’s ChatGPT in late 2022 marked the beginning of "AI 2.0," shifting industry attention to generative AI and large models. Companies like StepFun, Zhipu AI, MiniMax, and Moonshot AI began to rise, while computer-vision-centric firms like Megvii were momentarily sidelined. Recognizing this trend, Yin facilitated talent flow from Megvii to StepFun and initiated deeper collaboration, eventually joining StepFun’s core management.[para. 35][para. 36][para. 37][para. 38]
9. Since stepping down from Megvii in late 2024, Yin has focused on integrating AI with the automotive industry and building international alliances. Supported by giants like Geely and aligning with StepFun’s AI capabilities, Yin’s efforts aim to distinguish Qianli Technology from companies like Huawei by fostering open commercial cooperation and global reach.[para. 40][para. 50][para. 51][para. 52]
AI generated, for reference only
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