Liang Wenfeng's private equity firm has made significant investments in ChangXin Technology's initial public offering (IPO). The IPO issuance announcement reveals participation from national-level long-term capital, including the Social Security Fund and the Basic Endowment Insurance Fund, alongside industry leaders and large insurance capital. Strategic placements were made to companies such as Shenzhen SanKuai Network Technology, NIO Power Technology, ZTE Corporation, and Chery Intelligent Automotive Technology, each receiving allocations of 157,999,993.98 yuan with an 18-month lock-up period. Hangzhou Alibaba Cloud Feitian Information Technology was allocated the same amount with a 36-month lock-up period. High-Flyer Quant, a key player in the IPO subscription, proposed a subscription price of 8.78 yuan per share, with a maximum subscription limit of 230 million shares per transaction. Most of High-Flyer's bids ranged between 70 million and 140 million shares. High-Flyer Quant comprises Zhejiang Jiuzhang and Ningbo High-Flyer Quant, both controlled by Liang Wenfeng, who holds 85% and 85.15% of the shares, respectively.