Aug. 19 — Yushu Technology began trading on the Sci‑Tech Innovation Board,
opening up more than 500% and valuing the company at over 350 billion yuan. The
company prospectus shows chairman/GM/CTO Wang Xingxing directly holds 86.714964
million shares, equivalent to 21.4395% of post‑issue equity; he also held
9.5367% indirectly via equity‑incentive vehicle Shanghai Yuyi before the
offering. Combined direct and indirect holdings are roughly 30%, worth in excess
of 100 billion yuan, making Wang the richest entrepreneur born in the 1990s.
