On May 27, Yuncong Technology, the first share of the Science and Technology Innovation Board of the “AI Four Little Dragons”, was officially listed on the Science and Technology Innovation Board. The opening price was 24.00 yuan per share, up 56.15%. As of press time, the stock price of Yuncong Technology has dropped slightly, and the quotation was 20.41 yuan per share at the close of noon, up 32.79% from the issue price.
Yuncong Technology successfully landed on the Science and Technology Innovation Board, which not only made many of its institutional investors happy, but also a capital tycoon who was quarantined at home in Shanghai. This boss is none other than Liu Yiqian, the largest individual shareholder of Yuncong Technology.
Liu Yiqian, born in 1963, is an industrialist and collector. He is currently the chairman of Xinliyi Group, Tianmao Industrial Group, Guohua Life Insurance and other companies. He has been operating in the secondary market for a long time, and most of the chairman positions are “specialized in stocks” by Liu Yiqian. Liu Yiqian started working in society at the age of 17, and became a boss at the age of 20. At the age of 28, he sold the original shares of Yuyuan Shopping Center bought for 100 yuan per share at the price of 10,000 yuan per share, making a net profit of one million. Seeing the opportunity, Liu Yiqian began to devote himself to the capital market, and eventually became a generation of “bulls” after struggling. In March 2022, the Hurun Research Institute announced the list of the world’s richest people in 2022, and Liu Yiqian was on the list with a net worth of 41.5 billion yuan.
But in recent years, Liu Yiqian has quietly started venture capital. According to related reports, in 2016, Yuncong Technology won the favor of Liu Yiqian during its early financing and became the largest individual shareholder of Yuncong Technology. However, why did Liu Yiqian set his sights on an artificial intelligence startup such as Yuncong Technology?
After holding shares for 6 years, Liu Yiqian ushered in the harvest period of Yuncong Technology
On July 20, 2021, on the day of the first launch meeting of Yuncong Technology Science and Technology Innovation Board, Liu Yiqian sent a circle of friends to congratulate Yuncong Technology and its founder Zhou Xi. According to the Zhou Zhou Shanghai report, Liu Yiqian said: “When people found us, I felt that this was a technology company and needed support, so I invested some money. We also invested in this high-tech company from an industrial investment perspective.”
According to the prospectus of Yuncong Technology, as of the IPO, Liu Yiqian held 24.2784 million shares of Yuncong Technology, with a shareholding ratio of 3.86%. He is the fifth largest shareholder of Yuncong Technology and the first natural person shareholder; in the first round of Yuncong Technology Before the financing, Liu Yiqian was already the ninth largest shareholder of Yuncong Technology, with a shareholding ratio of 2.93%.
Source: Cloud Cong Technology Prospectus
According to relevant reports, as early as the beginning of 2016, Yuncong Technology, which conducted A round of financing, won the favor of Liu Yiqian. According to the calculation of Yuncong Technology’s A round financing amount of about 200 million yuan, Liu Yiqian’s first investment in it was about 200 million yuan. Around 20 million. Since then, Liu Yiqian has increased his shareholding in Yuncong Technology through two capital increases.
In December 2017, Yuncong Technology agreed that 14 investors including Shunying Investment, Zhiyun Congxing, Liu Yiqian, Zhangjiang Xinghe, Feng Weimin, and Shunwei Technology jointly contributed 374 million yuan in cash to subscribe for the company’s new registered capital of 11.6548 million Yuan. Among them, Liu Yiqian contributed 50 million yuan to subscribe for the registered capital of Guangzhou Yuncong’s 1.5581 million yuan. Therefore, Liu Yiqian’s investment in Yuncong Technology is 4.16%, making him the seventh largest shareholder of Yuncong Technology.
In August 2018, Yuncong Technology increased its capital again. This time, Liu Yiqian once again subscribed for a registered capital of 743,200 yuan with 50 million yuan. So far, Liu Yiqian holds a 4.37% investment in Yuncong Technology, becoming the fourth largest shareholder.
Due to the introduction of new shareholders after Yuncong Technology’s capital increase and share expansion, Liu Yiqian’s shareholding ratio was diluted to the current 3.86%. So far, Liu Yiqian’s investment in Yuncong Technology has exceeded 100 million yuan. In his holding of Yuncong Technology for 6 years, the investment income that Yuncong Technology brings to Liu Yiqian is also considerable.
According to the issue price of Yuncong Technology at 15.37 yuan per share, the market value of 24.2784 million shares held by Liu Yiqian is about 373 million yuan. Based on the opening price of 24.00 yuan per share, Liu Yiqian holds Yuncong Technology shares with a market value of nearly 600 million yuan. The investment income is at least 300 million. If the stock price continues to grow in the later period, Liu Yiqian’s income will continue to increase.
Secondary market speculators start doing venture capital
On the eve of Yuncong Technology’s listing, some investors mentioned Liu Yiqian in the Yuncong Technology Stock Bar, saying, “Can Liu Yiqian’s stock not rise?” Liu Yiqian had made a fortune in the secondary market before, which shows that his investment image has left a deep impression on some people The impression of some retail investors in Yuncong Technology also comes from Liu Yiqian’s blessing.
Before Yuncong Technology went public, Liu Yiqian had many classic investment cases, focusing on legal person shares and fixed increase in stocks. On January 16, 2015, Tianmao Group announced that it would raise 9.85 billion yuan at a price of 3.39 yuan per share, of which Liu Yiqian and his wife invested 4.763 billion yuan to subscribe for 1.405 billion shares at a price of 3.39 yuan per share. Only 7 trading days later, the share price of Tianmao Group was 7.27 yuan, and the shares of Tianmao Group, which Liu Yiqian and his wife had increased, gained a floating profit of 5.45 billion yuan.
Liu Yiqian’s wide opening and closing in the secondary market has earned him the titles of “Niu San” and “Capital Cheetah”, and has also been fired as the chairman of many listed companies. Over the years, Liu Yiqian has invested in Guohua Life Insurance, Changjiang Securities, Tianmao Co., Ltd., Shanghai Pudong Development Bank, Gemdale Group, Air China and other companies, involving finance, real estate, pharmaceutical and chemical industries, basically in traditional industries. Hendi Pharmaceutical, which landed on the GEM in December 2021, is also a product of Liu Yiqian’s investment strategy of “stabilizing finance and focusing on industry”.
Liu Yiqian was not satisfied. Later, he also opened up new investment fields. Just like Xinliyi Group, a subsidiary of Liu Yiqian, the three words “Xinliyi”, except that the word “yi” was taken from his name, also contained “use of New investment ideas to gain returns” means. As a result, Liu Yiqian began to try to step into a new field.
Combing Liu Yiqian’s investment map shows that Liu Yiqian is a shareholder in 10 companies, of which the companies established after 2015 that directly hold shares include Yuncong Technology, Yi Siwei, and LeTV Games. Among them, the founder of Yi Siwei is Wang Dongsheng, the founder of BOE, and the main business of Yi Siwei is the research and development of IoT chips; in addition, Liu Yiqian indirectly invested in Zhejiang Aina Testing Technology Co., Ltd., Xiangneng Hualei Optoelectronics through Xinliyi Co., Ltd., two semiconductor-related companies, have also entered the financing stage.
Source: Tianyancha
For Liu Yiqian, who focused on industrial investment in the later stage, semiconductors still belong to this category, but Yuncong Technology, as an AI company, is relatively unique in its investment landscape.
In 2016, artificial intelligence has become one of the most popular investment fields. How can Liu Yiqian, who has been in and out of the investment field for a long time, not know the investment trend, but Liu Yiqian is not sure about all investment fields. A quote from Liu Yiqian circulating on the Internet: “I don’t like to do things without risk. I never limit myself to what I can do.”
Although artificial intelligence was very popular at the time, it was a new field with high investment risks for Liu Yiqian. Liu Yiqian just crossed the river by feeling the stones at first, but fortunately, Yuncong Technology itself is strong and has become the leading company in China’s AI industry all the way.
Of course, the starting point of Yuncong Technology is also very high, and it is difficult for people to underestimate Yuncong Technology with the background of experts from the Chinese Academy of Sciences. Yuncong Technology was born in the Chongqing Research Institute of the Chinese Academy of Sciences. The founder Zhou Xi was also an expert in the field of artificial intelligence in the “Hundred Talents Program” of the Chinese Academy of Sciences. At that time in 2016, the most mature technologies in the field of artificial intelligence were image recognition and speech recognition, which was the advantage of Zhou Xi and Yuncong Technology.
In addition, Yuncong Technology has become the first company on the Sci-tech Innovation Board captured by Liu Yiqian, which also allows the speculator, who has long been labeled as “speculative” by the market, to regain some face.
Hashtag: Investing in artificial intelligence stock market
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