China** newspaper reporter Maureen Wang Huiwen is back! On January 10, Beijing Silicon Motion Technology Co., Ltd. (hereinafter referred to as "Siliconflow") officially announced that the company recently completed an angel round of financing of 50 million yuan, led by Sinovation Works, followed by well-known figures in the science and technology industry such as Yaotu Capital, Miracle Achieve, and Wang Huiwen, and Huaxing Capital served as the exclusive financial advisor. It is understood that Yuan Jinhui, the founder of silicon-based flow, is the founder of oneflow. At the beginning of 2023, Wang Huiwen bought Oneflow shortly after the establishment of Lightyear, and a few months later had to sell the company to his old club Meituan due to depression. In August 2023, Yuan Jinhui said in the circle of friends that the OneFlow team will start a new business, and the first product planned to be launched is a large model inference and deployment system to solve the pain point that the inference deployment cost of AIGC (generative artificial intelligence) and LLM (large language model) industries is too high. At the same time, he said, "We judge that this is one of the best business opportunities in the era of large models. The OneFlow team's technical level in AI Infra (AI infrastructure) should not be blown away, and the first-class technology is also a project that has rarely allowed investors to make money in the past many years. Welcome sincere investment institutions to discuss cooperation. β
Wang Huiwen returnedBoth a shareholder and a founderTianyan check shows that Beijing Silicon Technology has two shareholders, one is Yuan Jinhui and the other is Wang Huiwen. 
According to reports from the investment community, a person close to the current round of transactions revealed that Wang Huiwen is not only an investor in silicon-based flow, but also a founding shareholder, and has given a lot of guidance in the process of company formation, including but not limited to strategy, management, organization, business, and even executive recruitment. Wang Huiwen returned, but still chose AI. As one of the founders of Meituan, Wang Huiwen chose to retire at the age of 42. On December 18, 2020, Meituan issued an internal letter announcing that Wang Huiwen, co-founder and senior vice president of Meituan, had successfully completed the handover and officially withdrew as planned. Two years later, when ChatGPT swept the world, Wang Huiwen announced that he would set up a team to embrace the new era beyond Lightyear, and would build "China's OpenAI", and recruited technical experts in the list, bluntly saying "Rest assured to display your talents, and leave the chores to me to take care of". He himself will contribute $50 million, with a valuation of $200 million, while he does not personally own the shares, the funds account for 25% of the shares, and 75% of the shares are used to invite top R&D talents. On March 26, 2023, Ma Zhankai, the "father of Sogou input method", announced that he would join Lightyear Away. "I've decided to join Lightyears away on the great journey of AGI (Artificial General Intelligence)," he said. The big model-based AGI started the fourth technological revolution, which will be a multi-level and multi-wave wave that will eventually change everything, and I have to be a part of it. Ma Zhankai said that he has been a Meituan product consultant since 2010, and the co-creation team light years away has allowed him to see a vibrant scene like Meituan's start-up. I hope to make a small contribution on the road to accelerating AGI to benefit mankind. Not long after the establishment of Light Years Away, Wang Huiwen kept "sweeping the goods" to the market. In mid-to-late March, it was reported in the market that Light Years Away and the AI architecture start-up company - Beijing First-class Technology *** hereinafter referred to as "First-class Technology") was about to reach a merger and acquisition intention. Founded in January 2017, first-class technology is an artificial intelligence machine learning technology service provider. The founders, Yuan Jinhui and Wang Huiwen, are Tsinghua alumni. In the past ten years at Tsinghua University, Yuan Jinhui studied under Zhang Bo, the founder and academician of Chinese artificial intelligence, and studied for a doctorate and then a postdoctoral fellow, and has done interdisciplinary research in machine learning, deep learning and brain science, and is a well-known AI architecture expert in the industry. According to Yuan Jinhui's sharing in the circle of friends, he was already working on neural networks (computational neuroscience in 2008) a few years before the fire of deep learning, and a few years before the popularity of large models, that is, in 2015, when he was at Microsoft Research Asia, he began to face deep learning systems for large models. In 2017, Yuan Jinhui started his first business in his life, named "OneFlow First-class Technology", led the research and development of an open-source deep learning system, and raised some money with the support of Su Hua and other old friends in the early stage. However, at that time, the industry did not have a clear concept of "big model", and the development of such cutting-edge technology startups under the torture of commercialization was not too ideal. The emergence of ChatGPT has made Yuan Jinhui's OneFlow one of the hottest projects in the venture capital circle. In April 2023, Lightyear completed the acquisition of first-class technology, holding about 4652% equity. Not surprisingly, light years away has also become the target of investment institutions, and it is said that it has raised more than 1.6 billion in just 4 months. Although the news was denied, it has become the brightest light in the bleak venture capital industry in 2023. Loss of core team? The founder respondedUnfortunately, all this came to an abrupt end in June 2023 - Wang Huiwen retired from illness and was 100% acquired by Meituan light years away. Yuan Jinhui took the core team light years away to start a new business in the field of large models. According to industry insiders, the 35 people of the new company are from the original oneflow, which is a core member of Wang Huiwen's previous acquisition of Lightyear. Does this mean that Meituan's core team in the large-scale model business is lost? Will there be an impact on Meituan? On January 11, Yuan Jinhui publicly responded on Weibo: "In addition to the acquisition of 40 people from Oneflow, Lightyear also has more than 30 new talents who have joined Lightyear, and most of these 30 people have joined Meituan." Wang Huiwen spent more than 300 million yuan to buy a 47% stake from Oneflow investors. The transaction announcement made it clear that Meituan purchased Lightyear (including 47% of Oneflow's equity) for one yuan, and Lightyear investors did not lose money or make money. Lao Wang really spent money, Lightyear and the team are shareholders of Oneflow, and at the same time, there is no competition with Oneflow. β
According to the previous announcement disclosed by Meituan on the acquisition of Lightyear, Meituan wholly acquired 100% of the equity of Lightyear, and the total consideration for the acquisition includes: 2$3.4 billion in cash + 36.7 billion debt + 1 yuan, a total of about 206.5 billion yuan. In the shareholder structure of light years away, Wang Huiwen holds 7672%, and Qimai, an investment holding company wholly owned by Wang Xing, holds 043%, Sequoia China holds 244%, and other buyers hold a total of 2041%γIn April 2023, Lightyear acquired One Flow, which is mainly engaged in the research and development of large language models, and the announcement data shows that One Flow will lose 19.18 million yuan in 2022 and 22.72 million yuan in 2021. Editor: Xiaomo Review: Muyu