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Changxin Technology’s wealth-creation myth: 7 executives become “billionaire” tier, with Hefei’s state-owned assets delivering returns of 1 trillion+
ME News message: On July 28 (UTC+8), Changxin Technology officially made its debut on the STAR Market today. Its wealth-creation legend has brought Hefei’s state-owned assets paper gains of more than 1 trillion, corresponding to an equity book market value of over 1.21 trillion yuan. Seven executives of the company have advanced to “a net worth of 1 billion,” with Chairman Zhu Yiming and core technical personnel Cao Kanyu’s shareholding market value exceeding 10 billion yuan. Executive Vice President Zhu Wenju (2.915 billion yuan), Co-CEO Zhang Yu (2.765 billion yuan), Senior Vice President and Chief Financial Officer Huang Danyang (1.983 billion yuan), Senior Vice President and core technical personnel Li Hongwen (1.523 billion yuan), and Vice President and Board Secretary Yuan Yuan (1.107 billion yuan) are also listed.
In terms of employee shareholding, more than 6,700 people benefited, and at least 237 “ten-millionaire” individuals were born. However, the market value of every shareholder’s holdings is based on a static estimate using the opening price of 49.50 yuan and the total issued shares of 66.881 billion shares, so it is only a paper gain. As the stock price continues to fluctuate, book gains do not represent profits that can ultimately be realized. (Source: PANews)