黄晓明、李斌、雷军、梁文锋……长鑫IPO盛宴，谁是最大赢家？

Original｜Odaily Planet Daily (@OdailyChina)

Author｜Wenser (@wenser 2010 )

Yesterday, Changxin Technology (CXMT) landed on the A-share STAR Market, with its closing market cap settling at 3.28 trillion RMB, ranking first in market value on the A-share market, thereby sparking a "wealth creation wave." Based on public information, Odaily Planet Daily has compiled a "Changxin IPO Personal Profit Ranking" to give a clear view of the biggest winners. (Odaily Note: Some data is based on the assets of companies held by individuals, not personal wealth.)

Changxin Technology Founder Zhu Yiming: Net Worth Soars 300%, Stake Valued at Nearly 80 Billion RMB

For Changxin's topping the A-share market, the biggest beneficiaries are naturally the founder Zhu Yiming and Changxin employees.

According to Bloomberg Billionaires Index data, since Changxin's listing, the wealth of its founder Zhu Yiming's family has soared nearly 300% to $13.9 billion. The value of his Changxin stake alone is already approximately 80 billion RMB. Combined with his stake in GigaDevice, his peak net worth reaches 86.9 billion RMB..

Seven company executives have joined the "billionaire club," and on the employee stock ownership front, over 6,700 participants have benefitted, with at least 237 multi-millionaires created.

Additionally, statistics show that 93 public funds collectively received an allocation of 1.234 billion shares, with a static paper profit of nearly 50 billion RMB. Among them, E Fund, China Southern Asset Management, and ICBC Credit Suisse recorded paper gains of approximately 6.803 billion RMB, 5.598 billion RMB, and 4.712 billion RMB respectively.

Lastly, founder Zhu Yiming plans to donate 768 million shares for future employee incentives within 10 calendar years after the three-year lock-up period following Changxin's listing. This corresponds to a market value of over 37.6 billion RMB, potentially setting a record for the largest individual equity incentive plan on the A-share market. The relevant shares have a three-year lock-up period.

It can be said that this wave of IPO wealth creation from Changxin is not only a reward for the executive team but also a trend of shared prosperity for its employees.

DeepSeek Founder Liang Wenfeng: Paper Profit of 827 Million RMB from Changxin IPO Subscription

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

It is understood that 194 products under Liang Wenfeng's two controlled funds—Ningbo High-Flyer Quant (153 products) and Zhejiang Nine Chapter Asset Management (41 products)—participated in the offline placement for the Changxin IPO, receiving an allocation of 20,249,700 shares with a total subscription amount of approximately 175 million RMB.

Calculated based on the closing price on the first day, the paper profit from this investment is about 827 million RMB. Of this, 70% of the allocated shares are locked up for 6 months, while 30% have no lock-up period.

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

According to public information and relevant disclosure documents, Kong Jianping, founder of US-listed company Nano Labs, indirectly holds approximately 18.98 million shares of Changxin Technology through the Yifang Changda Fund, with a capital commitment of 21.34 million RMB. Based on the opening price of 49.5 RMB on that day, the corresponding market value of the holdings is about 940 million RMB, with estimated returns of approximately 44 times based on relevant statements.

Mr. Kong Jianping himself stated that when he invested in Changxin in 2020, the company's valuation was less than 20 billion RMB, compared to its current valuation of over 3 trillion RMB.

Former Midea Group Executive Huang Xiaoming: Capital Contribution of 106.7 Million RMB

On the eve of Changxin's IPO, news of "Huang Xiaoming subscribing to over 12 million Changxin shares" also sparked a wave of online buzz about the "real vs. fake Huang Xiaoming."

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

Later, according to publicly available online information, this "Huang Xiaoming" turned out to be a former executive of Midea Group. He personally invested 106.7 million RMB to subscribe to over 12.32 million Changxin shares at a price of 8.66 RMB. Based on yesterday's opening price of 49.5 RMB, his paper profit is 503 million RMB.

NIO Founder William Li: IPO Subscription of 158 Million RMB, Paper Profit ~700 Million RMB

The wealth creation wave from Changxin's IPO not only involved investors but also clients from different industries, including new energy vehicle brand NIO, another leading local enterprise in Hefei.

In the list of strategic investors for the Changxin IPO, the NIO Group committed to a subscription amount of 158 million RMB, with an 18-month lock-up period. Based on the issue price of 8.66 RMB/share, the total subscribed shares amount to approximately 18,244,800 shares. Based on yesterday's closing price of 49 RMB/share, NIO's book profit is approximately 740 million RMB, representing a return rate of over 465%.

On the same day, a blogger posted photos showing NIO founder William Li attending the Shanghai listing celebration banquet for Changxin Technology, holding a glass of red wine and interacting with many Changxin shareholders with a smile on his face.

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

Similar to NIO, Xiaomi Group is also a client of Changxin Technology. In this IPO placement, Xiaomi Group's wholly-owned subsidiary, Wuhan 1810 Enterprise Management Co., Ltd., also participated, ultimately receiving an allocation of 18,244,800 shares.

Calculated based on the issue price of 8.66 RMB/share, the company's paper profit on the first day of listing was 736 million RMB. After looking through the shareholding structure (Lei Jun holds 97.48% of Xiaomi Technology), it is estimated that Lei Jun's indirect corresponding book profit is approximately 717 million RMB.

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

Xu Jieyun, Special Assistant to the Chairman of Xiaomi, responded in a post this morning saying: "Just take it as a fun read, don't take it seriously." According to his explanation, this investment is a corporate-level investment activity. Investment by subsidiary entities and personal wealth should not be conflated.

An epic IPO, while creating over 200 multimillionaires, has also caused another surge in the personal wealth of numerous billionaires, truly adding riches to the already wealthy. For ordinary people, perhaps making 20,000 RMB from one allocated lot is already a rare stroke of good luck. (The sour grapes text of 800 words is omitted here.)

In any case, Changxin Technology is undoubtedly the current king of A-shares, "the first stock of domestic memory." We look forward to its ability to secure more orders in the global market and achieve even better results in the future.