Liang Wenfeng’s private equity firm has heavily bet on ZTE Xin Technology.

PANews July 17 news, according to a Tencent News report from Shenwang, the issuance announcement for Changxin Technology’s first public offering of shares shows that national-level long-term funds such as the Social Security Fund and the Basic Pension Insurance Fund, as well as leading companies in the industry chain’s upstream and downstream and major insurance capital, participated in strategic placement. The allocated amounts for Shenzhen San Kuai Network Technology Co., Ltd., NIO Power Technology (Hefei) Co., Ltd., ZTE Corporation, Chery Intelligent Vehicle Technology (Hefei) Co., Ltd., and others were 157,999,993.98 yuan, with a lock-up period of 18 months; Hangzhou Alibaba Cloud Feitian Information Technology Co., Ltd. received an allocated amount of 157,999,993.98 yuan, with a lock-up period of 36 months.

Hanfang Quant participated in this off-exchange new share bidding with a proposed subscription price of 8.78 yuan per share. The upper limit of the proposed subscription quantity per off-exchange subscription was 230 million shares, and most of Hanfang Quant’s products were submitted in the range of 70 million to 140 million shares. Hanfang Quant mainly consists of two parts: Zhejiang Jiuzhang and Ningbo Hanfang Quant. Both have been filed with the Asset Management Association of China, and their de facto controller is Liang Wenfeng. Liang Wenfeng holds 85% of the shares in Jiuzhang Assets and holds 85.15% of the shares in Ningbo Hanfang Quant.