Ge Weidong family, 19 billion holdings revealed

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The family holdings of Ge Weidong have been revealed.

According to the already disclosed 2025 annual reports of listed companies, Ge Weidong and his associates, Wang Ping and Ge Guilian, appeared on the shareholder lists of 9 listed companies in total, with combined holdings of more than 19 billion yuan.

Appearing in 9 companies

As of April 5, among the more than 1,200 listed companies that disclosed their 2025 annual reports, in the year reports that had already been released, Ge Weidong and his associates Wang Ping and Ge Guilian appeared in the top 10 tradable shareholders lists of 9 listed companies. As of the end of 2025, their combined holdings were 19.07 billion yuan.

Judging from Ge Weidong’s holding positions, he appeared in the following 4 listed companies:

Ge Weidong’s associate Wang Ping appeared in 6 listed companies: (Note:

There may be shareholders with the same name)

Ge Weidong’s other associate, Ge Guilian, appeared in 4 listed companies:

From the changes in holdings in the fourth quarter of 2025, according to the annual report of Zhaoyi Innovation, as of the end of 2025, Ge Weidong held 17.0267 million shares, the same as the shareholding amount at the end of the third quarter of 2025. However, Wang Ping, Ge Weidong’s associate, newly entered the top 10 tradable shareholders list of Zhaoyi Innovation. As of the end of 2025, Wang Ping held 7.5567 million shares.

An analysis of Zhaoyi Innovation’s regular reports found that in the fourth quarter of 2025, Wang Ping increased her stake in Zhaoyi Innovation by at least 1.45 million shares. Based on Zhaoyi Innovation’s interval average price above 214 yuan, Wang Ping spent more than 300 million yuan.

Muxi Shares, in which Ge Weidong held a market value of more than 13k yuan, was listed on December 17, 2025, and Ge Weidong invested in the company before it went public. According to the announcement, in February and March 2025, Ge Weidong invested 300 million yuan and 500 million yuan, respectively, in the company through capital increases. In addition, Hunchun Investment, which Ge Weidong controls, has been investing in Muxi Shares since 2022.

According to the annual report of Jianghuai Automobile, in the fourth quarter of 2025, Wang Ping increased her stake in the company by 1.25 million shares, while Ge Guilian’s holdings remained unchanged. In addition, on February 10, 2026, the report on the issuance of the non-public offering disclosed by Jianghuai Automobile showed that Ge Weidong spent about 1 billion yuan to subscribe for 20.0481 million shares. According to the announcement, the issue price was 49.88 yuan per share; the latest share price was 44.53 yuan. The portion of Ge Weidong’s participation in the placement is already in an unrealized loss position.

Positioning in three major tracks

Looking at the companies held by Ge Weidong’s family, they can roughly be divided into three tracks, covering technology, manufacturing, and consumption.

First is the hard technology sector, represented by Muxi Shares and Zhaoyi Innovation. This is the core offensive positioning, focusing on national-strategy emerging industries, with a focus on high growth and high elasticity,迎接 the new era of technology investment.

Among them, Muxi Shares is a domestically produced high-end GPU and AI compute power chip. Benefiting from the explosion in AI compute power, it has strong policy support. Its characteristics include high technical barriers, high early-stage growth, high elasticity, and high potential payout odds.

Zhaoyi Innovation is Ge Weidong’s long-term holding target. This semiconductor industry leader appeared on Zhaoyi Innovation’s top 10 tradable shareholders list as early as the end of the second quarter of 2018. Since then, he gradually increased his stake. Although Zhaoyi Innovation’s stock price has been extremely volatile—its price peak exceeded 230 yuan (pre-rights-adjusted) in mid-2021, and at the beginning of 2024 it once fell to around 55 yuan—Ge Weidong’s holdings have always been above 17 million shares.

The following is Ge Weidong’s holding situation over the past more than five years:

Second is the high-end manufacturing sector, including Magmite, Jianghuai Automobile, Xinquan Shares, and others. These are all companies with steady growth and technology-driven momentum.

Among these companies, Magmite focuses on the transformation of electrical power, automation control, and applications. In the past two years, the company has taken a forward-looking layout for AI power supplies, and has already formed a complete product layout system. A research report by Guotai Junhai Securities believes that the power supply market related to NVIDIA is over one trillion yuan. With accelerated technological iteration, the company is expected to gain market share amid the shifting landscape. In addition, the company may also enter the supply chains of companies such as Google and Amazon.

Xinquan Shares is a core automotive components company. Its seat business continues to break through, and it has established a robotic subsidiary, laying out the business of core robotic components and building a second growth curve. A research report by China International Capital Corporation (CICC) believes the company is well-positioned to expand its product categories to drive business growth, while also linking with core customers in the robotics field and fully leveraging its global competitiveness advantage.

Jianghuai Automobile is a benchmark target in the new energy vehicle sector, with deep cooperation with Huawei. According to a research report by Northeast Securities, the Zunjie S800 was listed on May 30, 2025. Deliveries for the full year of 2025 exceeded 13k units. For several consecutive months, it ranked first on the sales chart for luxury sedans with more than 700k yuan. The average price is close to 800k yuan, successfully establishing a new benchmark for domestically produced ultra-luxury new energy sedans.

Third is the new consumption sector, including Wantan Group, Shaoxingji Shan, and others.

Among them, Wantan Group is a leading brand in the snack value-store channel. The company relies on the snack value-store channel business model to quickly expand nationwide in a relatively short period, continuously carving out market space. Its revenue scale from the snack value-store business continues to grow, and its performance has been steadily realized. According to the company’s annual report, in 2025 revenue was 700k yuan, up 59.17% year over year; net profit was 800k yuan, up 358.09% year over year. Profit performance exceeded expectations.

Judging from Ge Weidong’s holdings, he focuses on the main line of technological development, deeply lays out technology that is independently controllable, upgrades in high-end manufacturing, and new consumption. Within this, the technology innovation sector is heavily weighted for decisive action. Especially Zhaoyi Innovation, which he has held heavily for as long as eight years. Perhaps, in Ge Weidong’s view, focusing on the great trends of the times is crucial. Only by anchoring the main line and looking to the future can complex problems be simplified and opportunities truly grasped.

In an interview earlier, Ge Weidong said that from 1996 to 1997, he and a friend each invested in Sichuan Changhong and Shenzhen Development, respectively. Both stocks increased by 10 times in more than one year at the same time, but in the end he only made 3 times the gains, far less than his friend. This made him realize that he must not pay attention to small fluctuations. When investing in stocks, it’s like finding a gold mine. Only if you hold firmly can you truly grasp the biggest opportunities.

Author: Zhao Mingchao

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