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Changxin Technology’s founder-making wealth myth: 7 executives become “billionaires,” and Hefei’s state-owned assets generate returns of trillions
PANews July 28 news: According to Red Star News, Changxin Technology officially listed on the STAR Market today. Its wealth-creation myth has brought Hefei state-owned assets an unrealized gain of more than ten thousand billion yuan (corresponding to a book equity market value of over 1.21 trillion yuan). Seven company executives have advanced to “a net worth of 1 billion yuan.” Chairman Zhu Yiming and core technical staff Cao Kanyu’s share value has exceeded 12.1k yuan; executive vice president Zhu Wenju (2.92B yuan), co-president Zhang Yu (2.77B yuan), senior vice president and CFO Huang Danyang (1.98B yuan), senior vice president and core technical staff Li Hongwen (1.52B yuan), and vice president and board secretary Yuan Yuan (1.11B yuan).
In the employee shareholding layer, more than 6,700 people benefited, with at least 237 millionaires being created. However, the market value of all shareholders’ holdings is based on a static calculation at the opening price of 49.50 yuan and the total shares outstanding after issuance of 66.88B shares—only representing book unrealized gains. As the stock price continues to fluctuate, book gains do not mean they can ultimately be realized.