Unitree Technology has started trading on Shanghai’s STAR Market, with shares opening more than 500% higher and the company’s market capitalization rising above 350 billion yuan, according to a report cited by PANews from Yicai. The listing sharply boosted the paper value of founder Wang Xingxing’s holdings.
The prospectus shows Wang, who serves as chairman, general manager, and chief technology officer, directly holds 86.714964 million shares in the company. After the offering, that stake represents 21.4395% of Unitree’s total share capital. Before the offering, he also held an indirect stake through the equity incentive platform Shanghai Yuyi, accounting for 9.5367% of the company.
Based on those disclosed holdings, Wang’s combined direct and indirect stake is about 30%. At Unitree’s post-listing valuation, the value of those shares exceeds 100 billion yuan. The report said that level of wealth makes Wang the richest person among those born in the 1990s.
Unitree Technology has officially begun trading on Shanghai’s STAR Market, with the stock opening more than 500% higher and the company’s market capitalization climbing above 350 billion yuan, according to a Yicai report cited by PANews.
The company’s prospectus shows that Wang Xingxing, Unitree’s chairman, general manager, and chief technology officer, directly holds 86.714964 million shares. After the offering, that stake accounts for 21.4395% of the company’s total share capital.
Before the issuance, Wang also indirectly held shares in the company through the equity incentive platform Shanghai Yuyi, representing 9.5367%.
Based on those figures, his combined direct and indirect stake stands at about 30%. At the company’s current valuation, the value of those holdings exceeds 100 billion yuan, making him the richest member of the post-1990 generation, according to the report.
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