Peking Univ Chemistry BS, University of Rochester Chemistry MS. Taught at New Oriental (achieved financial independence when it IPO'd 2006). Co-founded Miaozhen (ad-tech). IDG Capital Partner. Founded Frees Capital (Fengrui) 2015. Invested 150+ companies: Bilibili, Three Squirrels, Unity, Coinbase. Forbes China Best VC 5 consecutive years. 2025 thesis: intelligent hardware is the next focus after NEV and robots. For hardware founders: Frees is early-stage with deep consumer + hard tech thesis.