What Ricequant does

Ricequant (Shenzhen Mi Cang Technology Co., Ltd. / 深圳米筐科技有限公司) is a Shenzhen-based fintech founded in 2014 that builds a Python-based quantitative investment research platform for professional investors in the Chinese market. Its modular RQSDK stack includes RQData (a financial data API covering China A-shares, futures, options, convertible bonds, indices, funds, and alternative data with over 10 years of history), RQAlpha Plus (an open-source event-driven backtesting engine supporting daily, minute, and tick-level frequencies), RQFactor (factor research and validation), RQOptimizer (portfolio optimization with multiple objective functions and risk constraints), RQPAttr (Brinson and factor performance attribution), and RQAMS (an on-premise intelligent asset management system). The product surface has been extended in 2025 with RQAI, an AI Agents integration that connects the SDK to third-party AI coding tools (Claude Code, Open Code, Cursor, VS Code Copilot, Cline, Trae) for conversational data retrieval, strategy backtesting, and report generation, plus RQIndex proprietary indices and RQChat as a financial intelligent assistant.

Ricequant generates revenue primarily through recurring subscription and license fees across Basic and Enterprise tiers (annual billing) for cloud access and RQSDK on-premise deployment, with RQAMS enterprise contracts for banks, securities firms, and asset managers requiring local installation. The go-to-market is hybrid: a self-serve cloud platform with a freemium trial (1GB daily data quota) targets individual quants and small funds, while direct enterprise sales (with demo requests, phone/email contact, and local deployment) serve institutional clients. Customer segments include professional asset managers, quantitative hedge funds and proprietary trading desks (primary), securities firms, and commercial banks (secondary); named enterprise customers include ICBC Rui Xin, Debon Securities Asset Management, Evolution Asset Management, Jiangsu Huihong Huisheng Investment Management, Mina Asset Management, a large Shenzhen joint-stock bank, and a large Shenzhen private fund.

Ricequant has raised approximately $14.2M across four disclosed funding rounds from 2014 to 2019, with investors including Source Code Capital, Baidu, Sinowisdom, Hundsun Technologies, and Ally Capital. The company operates with 51-100 employees, is privately held, and has no disclosed parent company, M&A activity, or post-2019 funding round, suggesting a cash-disciplined, founder-led operation focused on sustained product depth in the Chinese quant ecosystem.

Name

Ricequant

Legal name

深圳米筐科技有限公司

Website

https://ricequant.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Ricequant is a Shenzhen-based fintech that provides a Python-based quantitative investment research platform — financial data APIs, backtesting, factor research, portfolio optimization, and asset management software — to professional quant investors, asset managers, securities firms, and banks in the Chinese market.

Ownership category

akta.pro rank

Headquarters

HQ city

Nanshanqu

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. RQData Financial Data API Subscription: Subscription-based access to RQData financial data API providing comprehensive Chinese market financial data including stocks, futures, options, and alternative data. Includes daily quota allocation and license-based access.
2. RQSDK Local Development Kit: Local deployment of Ricequant SDK components (RQData, RQAlpha Plus, RQFactor, RQOptimizer) requiring commercial license authorization. Includes installation, configuration, and ongoing support.
3. RQAMS Asset Management System: Intelligent asset management system targeting professional asset management institutions, potentially requiring local deployment and enterprise-level licensing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Ricequant (深圳米筐科技有限公司) provides a Python-based quantitative investment research toolkit called RQSDK that delivers comprehensive Chinese-market financial data, multi-asset backtesting, factor research, portfolio optimization, and performance attribution for professional investors. The product suite includes RQData, RQAlpha Plus, RQFactor, RQOptimizer, RQPAttr, RQAMS, and RQAI, available as cloud-hosted services, locally installed SDKs, and institution-grade asset management systems with on-premise deployment.

Product overview

Ricequant is a professional quantitative investment research platform offering a modular product portfolio centered around RQSDK. The core offering includes RQData (financial data API), RQAlpha Plus (backtesting engine), RQFactor (factor research framework), and RQOptimizer (portfolio optimizer), complemented by RQPAttr (performance attribution), RQAMS (asset management system), RQAI 应用 (AI agents), RQIndex (specialty indices), RQChat (intelligent assistant), and the cloud-based 量化协作平台 (collaboration platform). Products can be used independently or integrated through RQSDK for end-to-end quantitative research workflows.

Differentiator

Problem solved

Functional benefit

Brands

• RQData: Financial data API providing comprehensive Chinese market financial data including stocks, futures, options, convertible bonds, indices, funds, and alternative data.
• RQAlpha Plus
• RQFactor
• RQOptimizer
• RQPAttr
• RQAMS
• RQAI 应用
• RQIndex 米筐特色指数
• RQChat 金融智能助手
• 米筐量化协作平台

Products and services

• RQSDK Quantitative Investment Development Toolkit Professional quantitative investment development toolkit providing complete financial data, backtesting framework, factor research, and portfolio optimization for professional quants and institutions. Integrates RQData, RQAlpha Plus, RQFactor, and RQOptimizer as modular components available via cloud and local installation.
• RQData Financial Data API Financial data API providing comprehensive China market data including A-shares, ETFs, futures, options, convertible bonds, indices, funds, REITs, Hong Kong stocks, risk factors, money markets, macroeconomics, and alternative data, delivered via Python (rqdatac) and HTTP APIs with websocket real-time streaming. Targets professional quants, asset managers, and financial institutions needing cleaned, validated, high-speed data.
• RQAlpha Plus Backtesting Engine Quantitative trading strategy backtesting engine supporting daily, minute, and tick-level frequencies for stocks, futures, options, convertible bonds, indices, and funds. Core logic is fully open source with modular plugin design for integration with live trading and external systems. Targets quant researchers, algorithmic trading teams, and hedge funds.
• RQFactor Factor Research Framework Factor research framework for building, computing, and validating investment factors from market, financial, and technical data. Provides formula-based operator combinations, automated ex-rights and missing-value handling, IC analysis, group analysis, and factor return rate verification. Targets quant researchers and factor portfolio managers.
• RQOptimizer Stock Portfolio Optimizer Stock portfolio optimizer for the Chinese A-share market supporting multiple objective functions (risk minimization, tracking error minimization, Sharpe ratio maximization, information ratio maximization, style deviation minimization) and multiple industry classifications (CITIC, Shenwan) with custom benchmark support. Targets institutional portfolio managers and quant researchers.
• RQPAttr Performance Attribution Engine Performance attribution analysis engine supporting equity-style Brinson industry attribution, factor attribution, mixed-asset Brinson, stock industry Brinson, and multi-factor risk model attribution. Targets institutional asset managers, FOF research teams, and performance analysts needing to dissect strategy return sources.
• RQAMS Intelligent Asset Management System Intelligent asset management system for professional asset management institutions supporting multi-asset management, multi-functional perspectives, multi-dimensional investment management, real-time portfolio monitoring, risk attribution, position analysis, performance attribution, and local deployment. Targets banks, securities asset management departments, private funds, and outsourced investment managers.
• RQAI AI Agents Application AI Agents tool that integrates RQSDK with AI coding assistants such as Claude Code and Open Code via official SKILL files, enabling natural language data retrieval, factor filtering, strategy backtesting, and report generation. Targets quant researchers, portfolio managers, and analyst teams seeking to automate repetitive research tasks.
• RQIndex Ricequant Specialty Indices Ricequant's proprietary specialty indices providing real-time quotes, historical performance, and position data for proprietary index products covering Chinese market benchmarks. Targets institutional clients seeking exposure to or benchmarking against Ricequant-curated factor and strategy indices.
• RQChat Financial Intelligent Assistant Financial intelligent assistant providing conversational natural language interface for accessing financial data and analytics on the Ricequant platform. Targets quant researchers, analysts, and portfolio managers who prefer conversational access to data and reporting.
• Ricequant Online Quantitative Collaboration Platform Cloud-based online quantitative investment research platform with graphical interface, multi-user collaboration, team permission management, and elastic cloud computing resources, enabling strategy code sharing, collaborative backtesting, and team workspace management. Targets distributed quant teams, small-to-medium asset managers, and individual researchers seeking lightweight browser-based access.

Quantifiable outcome

• Full market 1-year daily data retrieval in seconds
• +1 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability7 records

Feature8 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• JoinQuant (聚宽): JoinQuant is one of Ricequant's closest direct competitors in China, offering a Python-based quantitative research platform with financial data, backtesting, and community-driven strategy sharing. It targets the same individual quant and small-institution customer base.
• BigQuant: BigQuant is a Chinese AI-powered quantitative investment platform that combines financial data, machine learning, and backtesting — directly comparable to Ricequant's RQData + RQAlpha Plus + RQFactor stack, particularly around AI-augmented research workflows.
• Uqer (优矿): Uqer was a China Universal Asset Management-affiliated quant research platform offering data, backtesting, and notebooks to Chinese quants. It serves a directly comparable user base to Ricequant's individual and small-team quant segment.

Broad incumbents

• Wind Information (万得): Wind is the dominant Chinese financial data terminal, offering broad market data, analytics, and increasingly quantitative research tools to almost every major Chinese financial institution. It is a broader incumbent with overlapping capabilities but a much wider portfolio than Ricequant's quant-focused stack.
• Tonghuashun (同花顺) / iFinD: Tonghuashun's iFinD is a major Chinese financial data and trading platform serving retail and institutional users. It competes with Ricequant at the data layer and increasingly at the quant-research tool layer, with significantly larger scale and broader product scope.
• East Money (东方财富) / Choice: East Money is one of China's largest online financial information platforms, with the Choice data terminal serving institutional customers. Its scale, brokerage integration, and breadth of data make it a broad incumbent competing with Ricequant for institutional wallet share.
• FactSet: FactSet is a global financial data and analytics platform serving institutional investors with portfolio analytics, data, and research workflow tools. While primarily Western-focused, it is comparable as a global incumbent benchmark for the kind of integrated data-plus-analytics stack Ricequant is building in China.
• Bloomberg Terminal: Bloomberg is the global benchmark for integrated financial data, analytics, and quantitative research tools used by institutional investors. Although it does not focus on Chinese quant-specific workflows, it represents the gold standard institutional data terminal and informs competitive expectations in the category.
• Morningstar Direct: Morningstar Direct is an institutional investment analysis platform providing data, portfolio analytics, and performance attribution — directly comparable to the upper layers of Ricequant's stack (RQOptimizer, RQPAttr, RQAMS) for buy-side institutional customers globally.

Emerging players

• Tushare Pro: Tushare Pro is a community-driven Chinese financial data platform offering Python-accessible APIs. It overlaps with RQData on data coverage and developer ergonomics, particularly for individual quants and academic users, though with less institutional depth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xzhuanlan.zhihu.com/ricequant

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ricequant