Huang Xiaoming, Li Bin, Lei Jun, Liang Wenfeng... Who Are the Biggest Winners in the CXMT IPO Feast?
Changxin Technology, a leading Chinese memory chip manufacturer, successfully listed on the Shanghai Stock Exchange's STAR Market (科创板) on July 8, 2026. Its share price surged from the IPO price of 8.66 yuan to close at 49 yuan on the first day, catapulting its market capitalization to 3.28 trillion yuan, making it the most valuable A-share company and triggering a massive wealth creation event.
The biggest winners were the company's founder, Zhu Yiming, and its employees. Zhu Yiming's family wealth skyrocketed nearly 300% to approximately $13.9 billion, with his direct stake in Changxin valued at around 80 billion yuan. Additionally, over 6700 employees benefited from stock ownership plans, creating at least 237 new millionaires (in CNY). Zhu also pledged to donate 768 million shares, worth over 37.6 billion yuan, for future employee incentives over a ten-year period.
Several prominent investors and corporate clients also reaped significant paper gains from the IPO. Notable figures include:
* **Liang Wenfeng**, founder of DeepSeek, whose funds netted a paper profit of approximately 827 million yuan.
* **Kong Jianping**, founder of Nano Labs, saw his indirect holdings valued at roughly 940 million yuan.
* **Li Bin**, founder of Nio, whose company's strategic investment of 158 million yuan is now worth about 740 million yuan.
* **Lei Jun**, founder of Xiaomi, whose subsidiary holds shares currently showing a paper gain of over 736 million yuan. Xiaomi clarified this is a corporate investment, not direct personal wealth.
The article notes that while this IPO created immense wealth for insiders and large investors, retail investors who were lucky enough to win an allotment in the lottery typically profited by around 20,000 yuan. The listing solidifies Changxin's position as China's premier domestic memory chipmaker.
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