Guangdong Dongchuang Investment Holdings

Zhang Xiaobing is the majority shareholder with 90% ownership, while co-founder Song Junjie holds the remaining 10% and serves as legal representative and director. Day-to-day investment activity is led by Partner and President Yang Jiacheng, who also heads the Yichuangshe incubator. The firm is supervised by General Manager Cai Xiaoyong.

Yichuangshe is an incubator led by Dongchuang's President Yang Jiacheng that serves as the firm's primary pipeline for early-stage deals. It operates as a captive origination vehicle, allowing Dongchuang to form and fund companies directly rather than sourcing from external pitch channels. This structure means Dongchuang's seed and start-up investments likely flow substantially through its own incubation ecosystem.

Dongchuang was originally initiated by Guangdong Biaodian Media Group, a media entity associated with the Southern Pharmaceutical Economic Research Institute. This connection embeds the firm within a specialized pharmaceutical and healthcare information network. The firm also maintains the Dongchuang Health Medical Volunteer Service Team, further signaling ongoing healthcare-sector engagement alongside its generalist venture mandate.

There is no public disclosure of external limited partners or fund structures. The firm's corporate-investor classification, combined with Zhang Xiaobing's 90% ownership, suggests it operates on principal capital rather than committed third-party funds. This is consistent with regional Chinese venture firms that deploy founder equity before — or in lieu of — raising institutional fund vehicles.

The firm is headquartered in Guangzhou and operates from the Shidai Fangzhou Industrial Park in the city's Haizhu District, a concentrated technology and manufacturing zone in southern China. Its investment activity and incubation efforts are focused on Guangdong Province, though specific portfolio-company locations beyond this hub are not publicly disclosed.