Who is the Biggest Winner in Changxin's IPO Feast?

Original Title: "Huang Xiaoming, Li Bin, Lei Jun, Liang Wenfeng... Who is the Biggest Winner in Changxin's IPO Feast?"
Original Author: Wenser, Odaily Planet Daily

Changxin has topped the A-shares, and the biggest beneficiaries are naturally Changxin Technology's founder Zhu Yiming and the employees of Changxin.

According to Bloomberg Billionaires Index data, since Changxin's listing, the wealth of its founder Zhu Yiming's family has soared nearly 300%, reaching $13.9 billion. The value of Changxin's shares alone is approximately 80 billion RMB, and combined with the equity valuation of Zhaoyi Innovation, his peak net worth has reached 86.9 billion RMB.

Seven company executives have achieved a "billionaire" status, and over 6,700 employees have benefited from stock ownership, with at least 237 millionaires being born.

In addition, statistics show that 93 public funds collectively received 1.234 billion shares, with a static floating profit of nearly 50 billion RMB. Among them, E Fund, Southern Fund, and ICBC Credit Suisse have floating profits of approximately 6.803 billion RMB, 5.598 billion RMB, and 4.712 billion RMB, respectively.

Finally, founder Zhu Yiming plans to transfer 768 million shares for employee incentives within ten natural years after Changxin Technology's listing, corresponding to a market value of over 37.6 billion RMB, which is expected to set a record for the largest personal equity incentive in A-shares, with a three-year lock-up period for the related shares.

It can be said that this wave of IPO wealth creation by Changxin is not only a reward for the executive team but also a wealth-sharing wave aimed at employees.

Liang Wenfeng, Founder of Deepseek: Floating Profit of 827 Million from Changxin's IPO

Yesterday, data from Weibo's trending topics showed that "Liang Wenfeng's floating profit of 827 million from Changxin's IPO" once ranked 25th on Weibo's hot search list.

It is understood that the two major funds controlled by Liang Wenfeng—Ningbo Huanshang Quantitative (153 products) and Zhejiang Jiuzhang Asset (41 products)—participated in the offline allocation of Changxin's IPO with a total of 194 products, receiving 2,024,970 shares, with a total subscription amount of approximately 175 million RMB.

Based on the closing price on the first day, this investment has a floating profit of about 827 million RMB. Among them, 70% of the allocated shares are subject to a six-month lock-up period, while 30% have no restrictions.

Kong Jianping, Founder of Nano Labs: Indirectly Holds Approximately 18.98 Million Shares of Changxin Technology, Corresponding to a Market Value of About 940 Million RMB

According to public information and related disclosure documents, Kong Jianping, founder of the US-listed company Nano Labs, indirectly holds approximately 18.98 million shares of Changxin Technology through the E Fund Changda Fund, with an investment of 21.34 million RMB. Based on the opening price of 49.5 RMB on that day, the corresponding market value of the shares is about 940 million RMB, with a calculated return of about 44 times.

Kong Jianping stated that when he invested in Changxin in 2020, the company's valuation was less than 20 billion RMB, and it has now exceeded 3 trillion RMB.

Huang Xiaoming, Former Executive of Midea Group: Subscription Amount of 106.7 Million RMB

On the eve of Changxin's IPO, the news that "Huang Xiaoming subscribed for over 12 million shares of Changxin" also sparked a wave of online discussions about the "true and false Huang Xiaoming."

Initially, some speculated that this Huang Xiaoming might be the mainland actor Huang Xiaoming, but later, a blogger verified with the actor himself, confirming that it was not him.

Subsequently, according to publicly available information, this "Huang Xiaoming" should be a former executive of Midea Group, who personally invested 106.7 million RMB to subscribe for over 12.32 million shares of Changxin at a price of 8.66 RMB. Based on the closing price of 49.5 RMB yesterday, his floating profit is 503 million RMB.

Li Bin, Founder of NIO: IPO Subscription of 158 Million RMB, Floating Profit of About 700 Million RMB

The wealth creation wave from Changxin's IPO includes not only investors but also clients from various industries, including NIO, which is also a local leading enterprise in Hefei.

In the strategic allocation list for Changxin Technology's IPO, NIO Group committed to a subscription amount of 158 million RMB, with a lock-up period of 18 months. Based on the issue price of 8.66 RMB/share, the total subscribed shares are approximately 18.2448 million shares. Based on yesterday's closing price of 49 RMB/share, NIO's floating profit is approximately 740 million RMB, with a return rate of over 465%.

On that day, a blogger posted photos showing that Li Bin, the founder of NIO, appeared at the thank-you dinner for Changxin Technology's listing in Shanghai, holding a glass of red wine and smiling while interacting with many Changxin shareholders.

Lei Jun: Subsidiary Holds Over 18.24 Million Shares, Floating Profit Exceeds 700 Million RMB

Similar to NIO, Xiaomi Group is also one of Changxin Technology's clients. In this IPO allocation, Xiaomi Group's wholly-owned subsidiary, Wuhan Yiyu Enterprise Management Co., Ltd., also participated, ultimately receiving 18.2448 million shares.

Based on the issue price of 8.66 RMB/share, the company had a floating profit of 736 million RMB on the first day of listing. Through equity penetration (Lei Jun holds 97.48% of Xiaomi Technology's shares), it is estimated that Lei Jun has an indirect floating profit of about 717 million RMB.

Of course, after the news broke, Xiaomi Group also responded promptly.

Xiaomi's chairman's special assistant Xu Jieyun posted a response this morning, stating: "Just enjoy the fun, don't take it seriously." He explained that this investment belongs to the company's level of investment behavior, and the subsidiary's entity investment and personal wealth should not be confused.

An epic IPO has created over 200 millionaires while also causing many billionaires' personal fortunes to surge again, which can be described as the rich getting richer. For ordinary people, perhaps making a profit of 20,000 RMB from a single subscription is already a rare stroke of luck.

Regardless, Changxin Technology is undoubtedly the king of A-shares and the "first domestic storage stock." We look forward to its subsequent ability to win more orders in the global market and achieve better results.

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