Yushu Technology goes public, founder Wang Xingxing's net worth may exceed 18.3 billion yuan

Yushu Technology disclosed its issuance announcement for the Sci-Tech Innovation Board on August 6, determining the issuance price at 150.80 yuan per share, with a total issuance of 40.4464 million shares, accounting for 10% of the total share capital after issuance, raising approximately 6.099 billion yuan, corresponding to a market value of about 60.99 billion yuan. Founder Wang Xingxing holds a total of 33.36% of the shares directly and indirectly, corresponding to a net worth of approximately 18.312 billion yuan, a significant increase from 6.69 billion yuan when he appeared on the New Fortune Rich List in 2025.

The company has established two employee stock ownership plans to participate in strategic allocation, with a total allocation of 1.8004 million shares, covering 171 core employees. Among them, Plan 1 covers 161 middle-level backbones, and Plan 2 covers 10 management and core technical leaders, with a maximum lock-up period of 36 months. Nine strategic investors have collectively been allocated 8.0893 million shares, accounting for 20% of the total issuance, among which DeepSeek was allocated 930,000 shares, and Shanghai Qishan Investment, a subsidiary of Tencent, was allocated 903,300 shares. Central enterprises in the energy and communication sectors, such as China Petroleum, Southern Power Grid, and Tianyi Capital, are also joining in. Online and offline subscriptions will begin on August 10.