On September 11, Enflame Technology went public on the STAR Market, closing with a market capitalization of RMB 170.8 billion. Calculated at the first-day closing price of RMB 397 per share, the top 20 out of 59 investment institutions achieved total paper gains exceeding RMB 85 billion, with Tencent gaining RMB 29.1 billion. Qinghui Investment, under the leadership of Changxin Technology and GigaDevice founder Zhu Yiming, chose to transfer and exit before the listing, missing out on an investment return as high as 237 times.
