Original|Odaily Planet Daily(@OdailyChina)
Author|Wenser(@wenser 2010 )

Yesterday, Changxin Technology listed on the A-share STAR Market, with its closing market capitalization settling at 3.28 trillion yuan, ranking first in the A-share market by market value, thus setting off a "wave of wealth creation." Based on public information, Odaily Planet Daily has compiled a "Changxin IPO Personal Gain Ranking," providing a comprehensive overview of the biggest winners. (Odaily Note: Some data refer to assets held by companies under individual names, not personal wealth.)
Zhu Yiming, Founder of Changxin Technology: Wealth Soars 300%, Shareholding Value Nears 80 Billion Yuan
The biggest beneficiaries of Changxin topping the A-share market are naturally Zhu Yiming, the founder of Changxin Technology, and its employees.
According to the Bloomberg Billionaires Index, since Changxin's listing, the wealth of founder Zhu Yiming's family has surged nearly 300%, reaching $13.9 billion. The value of his Changxin holdings alone amounts to approximately 80 billion yuan. Including the calculation of his stake in Gigadevice, his peak net worth reached 86.9 billion yuan.
Seven company executives joined the "billion-yuan net worth" club. At the employee shareholding level, over 6,700 individuals benefited, with at least 237 individuals becoming multi-millionaires (in yuan).
Furthermore, statistics show that 93 public funds collectively received allocations of 1.234 billion shares, generating a static paper profit of nearly 50 billion yuan. Among them, E Fund, China Southern Fund, and ICBC Credit Suisse generated paper profits of approximately 6.803 billion yuan, 5.598 billion yuan, and 4.712 billion yuan, respectively.
Finally, founder Zhu Yiming plans to voluntarily transfer 768 million shares for future employee incentives within ten calendar years after the third anniversary of Changxin's listing, corresponding to a market value exceeding 37.6 billion yuan. This is expected to set a record for the largest personal equity incentive in A-share history. These shares are subject to a three-year lock-up period.
It can be said that Changxin's IPO-driven wealth wave not only rewards the senior management team but also spreads prosperity widely among employees.
Liang Wenfeng, Founder of Deepseek: Paper Gain of 827 Million from IPO Subscriptions
Yesterday, data from the Weibo hot search list showed that "Liang Wenfeng's 827 million yuan paper gain from Changxin IPO subscriptions" once reached the 25th position on the Weibo hot search rankings.
It is understood that the two major funds controlled by Liang Wenfeng—Ningbo Huanfang Quant (153 products) and Zhejiang Jiuzhang Asset Management (41 products)—with a total of 194 products participated in the offline placement of Changxin's IPO, receiving an allocation of 20.2497 million shares with a total subscription amount of approximately 175 million yuan.
Based on the first-day closing price, this investment generated a paper profit of approximately 827 million yuan. 70% of the allocated shares are subject to a 6-month lock-up period, while 30% have no lock-up.
Kong Jianping, Founder of Nano Labs: Indirectly Holds Approximately 18.98 Million Shares of Changxin, Corresponding Value ~940 Million Yuan
According to public information and related disclosure documents, Kong Jianping, founder of the US-listed company Nano Labs, subscribed 21.34 million yuan through Yifang Changda Fund, indirectly holding approximately 18.98 million shares of Changxin. Based on the opening price of 49.5 yuan that day, the corresponding shareholding value is approximately 940 million yuan, with a calculated return of about 44 times according to related statements.
Kong Jianping stated that when he invested in Changxin in 2020, the company's valuation was less than 20 billion yuan, and it has now exceeded 3 trillion yuan.
Former Midea Group Executive Huang Xiaoming: Subscription Amount 106.7 Million Yuan
On the eve of Changxin's IPO, the news that "Huang Xiaoming subscribed to over 12 million Changxin shares" also sparked online discussions about "the real Huang Xiaoming."
Initially, some speculated that this Huang Xiaoming might be the mainland Chinese actor. Subsequently, a blogger verified with the actor Huang Xiaoming himself, ultimately confirming it was not him.
Subsequently, according to publicly available online information, this "Huang Xiaoming" is likely a former executive of Midea Group. He personally invested 106.7 million yuan, subscribing to over 12.32 million Changxin shares at a price of 8.66 yuan per share. Based on yesterday's opening price of 49.5 yuan, his paper profit is 503 million yuan.
Li Bin, Founder of Nio: IPO Subscription of 158 Million Yuan, Paper Profit ~700 Million Yuan
The wealth creation wave from Changxin's IPO involves not only investors but also clients from different industries, including Nio, a new energy vehicle brand and another leading enterprise in Hefei.
Among the strategic placement list for Changxin's IPO, Nio Group committed to subscribing 158 million yuan, with an 18-month lock-up period. Based on the issue price of 8.66 yuan per share, the total subscribed shares are approximately 18.2448 million. Using yesterday's closing price of 49 yuan per share, Nio's paper profit is approximately 740 million yuan, with a yield exceeding 465%.
That day, a blogger posted photos showing that at Changxin's Shanghai listing celebration dinner, Nio founder Li Bin was present, smiling and holding a glass of red wine while interacting with numerous Changxin shareholders.
Lei Jun: Subsidiary Holds Over 18.2448 Million Shares, Paper Profit Over 700 Million Yuan
Similar to Nio, Xiaomi Group is also a customer of Changxin. In this IPO placement, Wuhan 1810 Enterprise Management Co., Ltd., a wholly-owned subsidiary of Xiaomi Group, participated and ultimately received an allocation of 18.2448 million shares.
Based on the issue price of 8.66 yuan per share, the subsidiary's paper profit on the listing day was 736 million yuan. Based on equity tracing (Lei Jun holds 97.48% of Xiaomi Technology), Lei Jun's indirect corresponding paper profit is approximately 717 million yuan.
Of course, after the news spread, Xiaomi Group responded promptly.
Xu Jieyun, Special Assistant to the Chairman of Xiaomi, posted this morning, stating: "Just take it as entertainment, don't take it seriously." According to his explanation, this investment is a corporate-level investment behavior, and the investment by a subsidiary entity should not be confused with personal wealth.

A monumental IPO, while creating over 200 multi-millionaires (in yuan), has also led to another wave of significant wealth increase for numerous billionaires, truly adding riches to riches. For ordinary people, perhaps winning one lot and earning 20,000 yuan from it is already remarkably good luck. (800 words of sour grapes omitted here.)
Regardless, Changxin Technology is undoubtedly the current king of A-shares and the "first domestic memory chip stock." We look forward to it securing more orders and achieving even better results in the global market.






