People's Insurance Company of China, or PICC, said an early investment in ChangXin Memory Technologies (CXMT) has generated a return of more than 20 times, based on the company's closing price on its July 27 debut day on Shanghai's STAR Market. The comment came from PICC Vice President Cai Zhiwei during the insurer's 2026 interim earnings briefing. Cai said PICC invested in CXMT in 2021 and used the stock's closing price on the day of its initial public offering to measure the gain. He also said the company will stick to a long-term investment approach and continue work around the "five major areas" of finance. According to Cai, PICC has already placed a batch of quality projects into its project reserve pool, and those investments may also deliver solid returns. The item was cited by Odaily, which referenced Jin10 as the source.
Odaily reported that Cai Zhiwei, vice president of the People's Insurance Company of China (PICC), said at the company's 2026 interim earnings briefing that PICC's investment in ChangXin Memory Technologies (CXMT) has returned more than 20x.
Cai said PICC invested in CXMT in 2021. Based on CXMT's closing price on July 27 this year, the day of its initial public offering on Shanghai's STAR Market, the return on that investment exceeded 20 times.
Cai also said PICC will maintain its long-term investment approach and continue to advance the "five major areas" of finance. He added that the company has already reserved a batch of quality projects in its project pipeline, which may also deliver solid investment returns.
The report cited Jin10 as the source.
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