By health

By-Health announced that it plans to invest an additional 70 million yuan of its own funds in Moonshot AI Ltd. After this investment, the company and its subsidiaries will have invested a total of approximately 175 million yuan in the target company. This additional investment constitutes a related-party transaction, which has been approved by the board of directors and does not require submission to the shareholders' meeting for review. The target company is in a high-valuation sector and is still in an early stage of development, with risks including technology research and development falling short of expectations and intense industry competition.

By-Health has invested 20 million yuan of its own funds in Gongqingcheng Lingyi Xingtu Venture Capital Partnership, holding a 48.78 percent stake as a limited partner. The fund primarily targets projects in emerging industries, with a partnership term of 20 years, aiming to leverage professional expertise to identify high-growth sectors and achieve capital appreciation.

ChangXin Technology is about to list on the STAR Market. Ningbo Huanfang Quantitative Investment Management Partnership and Zhejiang Jiuzhang Asset Management, both founded by DeepSeek and Huanfang Quantitative founder Liang Wenfeng, appeared on the IPO subscription list, collectively deploying nearly 200 funds to submit bids. ChangXin Technology is issuing shares at 8.66 yuan per share, with an IPO valuation of approximately 579.2 billion yuan. In the strategic placement, 30 institutions received a total allocation of 14.437 billion yuan. Several listed companies participated in the placement, and the preliminary online subscription winning rate was 0.40995452 percent. Announcements by By-Health and Korrun indirectly disclosed DeepSeek's valuation at approximately 325 billion yuan and 350.9 billion yuan respectively, while the Bloomberg Billionaires Index shows Liang Wenfeng's net worth at 36 billion US dollars, equivalent to about 244 billion yuan, ranking 63rd on the global rich list. Brokerage research reports estimate ChangXin Technology's steady-state market capitalization after listing to be in the range of 1 trillion to 4 trillion yuan, with a profit potential of about 3,000 to 26,000 yuan per winning lot. The six insurance companies that invested early have an unrealized gain of approximately 18.3 billion yuan based on the issue price, and if the steady-state market capitalization reaches 3 trillion yuan, the unrealized gain could exceed 100 billion yuan.