Huofang Quantitative Bids 8.78 Yuan Per Share for Changxin Technology IPO Stake

According to Odaily, Huofang Quantitative, controlled by Liang Wenfeng, is participating in Changxin Technology's IPO underwriting at 8.78 yuan per share, with maximum bids up to 230 million shares per batch. The Zhejiang Jiuzhang and Ningbo Huofang entities, both registered with China's fund industry association and both 85%+ controlled by Liang, are placing most products in the 70–140 million share range.

Changxin's IPO strategic allocation also attracted state-backed funds including the National Social Security Fund and Basic Pension Insurance Fund, as well as industry leaders. Alibaba Cloud Feitian received 157.99 million yuan with a 36-month lock-up period.