Zhang Xingang is included in the 'Vision' section because his entrepreneurial trajectory demonstrates a rare long-termism. In the optical chip field dominated by overseas players, he chose the most arduous path—IDM full-chain autonomy rather than asset-light fast turnover. This choice seemed inefficient initially but ultimately unleashed astonishing energy in the AI computing wave. His archival value lies in: while capital chased trends, he persisted in technical攻坚; when the industry cycle declined, he quietly built capacity. This composure based on industrial endgame judgment is exactly what the Vision section aims to preserve.
Zhang Xingang's entrepreneurial journey began in 2010 when he returned to China to found Huahan Jingyuan, but the venture failed due to the misappropriation of over 7 million yuan by general manager Wang Shuo. [1] In 2013, he founded Yuanjie Technology in Xianyang, Shaanxi, with an 8 million yuan interest-free loan from childhood friends. [2] In the early days, the company had only a second-hand Alto as its official vehicle, and when picking up Japanese clients, he was mistaken for a fraudster. [2] Zhang insisted on an IDM model covering design, epitaxy, wafer fabrication, and packaging. [1] In 2018, the company's self-developed 25G DFB laser chip passed validation, becoming the first domestic mass producer. [3] In 2020, Huawei Hubble made a strategic investment. [4] In December 2022, Yuanjie Technology listed on the STAR Market. [5] In 2025, benefiting from AI computing demand, the company's performance reversed sharply, with data center business revenue growing 719%. [6] In April 2026, the stock price surpassed Moutai, becoming the highest-priced A-share stock. [8]
Zhang Xingang's business philosophy centers on 'the dumbest persistence.' While the industry favored asset-light Fabless models, he insisted on an IDM full-chain approach, believing that 'each of the hundred-plus core processes must be mastered personally.' [1] This heavy-asset, long-cycle investment was initially questioned but ultimately became a core competitive advantage. A key battle was conquering 25G laser chips in 2018 to enter the 5G track; [3] another was pivoting to data center optical chips in 2025 to seize the AI computing boom and turn losses into profits. [6] Facing supply-demand rhythm differences, he judged that 'AI demand growth is exponential, but capacity expansion is linear,' thus adhering to long-term technology reserves and orderly expansion. [8]
Zhang Xingang's entrepreneurial journey is seen as a microcosm of China's optical chip industry's import substitution. He led Yuanjie Technology to localize 25G laser chips, breaking overseas monopoly and providing key components for 5G and AI computing infrastructure. [3] In 2026, the company's stock price surpassed Moutai, becoming the highest-priced A-share stock with a market cap exceeding 135 billion yuan, and Zhang's net worth of 8.5 billion yuan earned him a place on the Hurun Global Rich List. [8] His story has been interpreted by media as 'the dumbest persistence is the most valuable,' emphasizing the value of long-term technical攻坚. [1] His experience also sparks discussions on trust mechanisms in entrepreneurship and the sustainability of asset-heavy models. [2]
The business proposition Zhang Xingang leaves behind is: in technology-intensive industries, does long-termism always triumph over short-term efficiency? His answer seems affirmative, but only if one chooses the right track and endures the cycles. From Alto to Stock King, he proved in 13 years that the dumbest persistence can become the most solid moat. His era significance lies in providing a replicable paradigm for China's hard-tech entrepreneurship—not relying on trends, not idolizing models, but believing in the accumulation of craftsmanship and the compound interest of time.