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Financial data and information services · China

Tianyancha (Qixinbao)

tianyancha.com ↗

Search platform that repackages Chinese public corporate and court filings for lookup.

Protection under test
Assessed 26 July 2026 · Evidence as of 26 July 2026
Something worth protecting exists and is being tested right now.
On the recordSince 26 July 2026 · Checkable from mid-2027 · Every call on the record Checkpoint: 12-month window to show a regulatory data-export license or a shipped AI due-diligence feature before Qichacha or Qixinbao pull further ahead
The call

Tianyancha sells lookups over free government data while a rival locked in a regulatory export license and another rival ships LLM features, leaving Tianyancha to prove it still has an edge.

Tianyancha lets people search public records about Chinese companies by pulling together government filings, court documents, and trademark data from multiple sources. The problem is anyone can access the same public records, and AI assistants like DeepSeek or Qwen can now answer the same questions without needing Tianyancha's website, plus a rival called Qixinbao is already building AI features into its own search product. The one thing that could save Tianyancha would be building a tool so locked into banks and compliance teams through auditable workflows and special data licenses that it becomes too expensive for them to switch away.

Why
01
AI pressure: Domestic LLMs (DeepSeek, Zhipu, Qwen) plus Qixinbao's LLM-driven credit analysis. Rivals are wiring LLMs into filings data for instant risk summaries; Tianyancha has shown no matching AI feature. Could AI do the core job? Yes, likely.
02
Bigger players: SAMR national enterprise credit information system (free government portal). The underlying filings are free from the state; nothing stops SAMR's own portal from getting easier to search. Could a giant copy it? Yes, easily.
03
What protects it. A decade of brand recognition, a large indexed dataset, and an existing paid API business banks and firms already use.
What would change this call
Tianyancha announces a CAC data-export license or equivalent regulatory approval by end-2026. Would show it closing the regulatory gap Qichacha already secured in 2023.
Tianyancha launches an LLM or knowledge-graph feature matching Qixinbao's marketed AI tools. Would show it responding to AI-driven disintermediation instead of standing still.
Tianyancha discloses a new funding round, acquisition, or verified revenue figures within 12 months. Would resolve whether its 9-year funding silence means stagnation or quiet profitability.
Key numbers
  • $18M total disclosed funding, last raised 2017 (2017-03-21)
  • No new funding round found in 9 years (2026-07-26)
  • Qichacha secured China's first CAC data-export approval, 2023 (2023)
Named risks
  • No proprietary data layer; entire product repackages free public government filings. Severity: high
  • No disclosed AI feature launch while named competitor markets LLM integration. Severity: high
  • Nine years without new funding round or IPO since 2017 Series A. Severity: medium
  • Publicly available data is stale, aggregator-sourced, and internally inconsistent, obscuring true company health. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Qichachalosing toQichacha reportedly secured first CAC data-export approval in industry, 2023, no equivalent for Tianyancha
Qixinbao (Intsig)losing toQixinbao markets LLM and knowledge-graph credit analysis (vendor-claimed, undated); no matching Tianyancha AI launch found
Qixin (启信宝)contestingFrequently confused with Tianyancha in search traffic data, undated, indicating overlapping market presence
SAMR national credit portalcontestingFree government registry system that all commercial aggregators including Tianyancha repackage
Questions people ask
Is Tianyancha profitable?
No verified profitability figures exist. Tianyancha has raised only one disclosed round, an $18M Series A on March 21, 2017, and no new funding, IPO, or acquisition has been reported through July 2026, which could mean quiet profitability or stagnation.
Could AI replace Tianyancha?
Tianyancha's core product is a searchable index of free Chinese government registry, litigation, and IP filings, a textbook case for LLM disintermediation. Rival Qixinbao (Intsig) already markets NLP, knowledge-graph, and LLM-based credit analysis; no dated AI feature launch from Tianyancha itself has been found as of July 2026.
Who is Tianyancha's biggest competitor?
Qichacha (企查查) is the closest rival and holds a regulatory edge: it was reportedly first in the industry to secure Cyberspace Administration of China approval for cross-border data-export security assessment in 2023, a milestone Tianyancha has not matched.
Who owns Tianyancha?
Tianyancha is privately held, with its only disclosed funding an $18M Series A closed March 21, 2017, led by Guozhong Venture Capital with HongShan (formerly Sequoia China) also listed as an investor, per CB Insights (2026-06-27). No IPO or acquisition has occurred since.
Does Tianyancha have proprietary data competitors lack?
No. Tianyancha aggregates public filings from sources like China's SAMR national enterprise credit system, the same free government data any competitor or AI agent can index, with no exclusive dataset or regulatory data-export license identified as of July 2026.
What is Tianyancha's founding date and headquarters?
Sources conflict: one 2018 report cites March 2016 founding while other trackers list 2014 or 2018; headquarters is listed as Beijing's Haidian district by most trackers but Shanghai in one CB Insights entry, so both remain unresolved as of 2026.
Timeline
  • 2026-03-14CB Insights profile shows no confirmed new product, funding, or AI feature for Tianyancha
  • 2023Competitor Qichacha reportedly secures first-in-industry CAC data-export approval
  • 2018-06-28Synced reports Tianyancha has over 100 million registered users
  • 2017-04-25Founder Liu Chao describes platform indexing about 120 million Chinese enterprises
  • 2017-03-21Tianyancha closes $18M Series A led by Guozhong Venture Capital
Revision history
26 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
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