Chinese AI Mogul’s Wife Admits to $21 Million of Secret Trades
- Dawning Info discloses the affair after regulators’ inquiry
- The trades took place during an AI-fueled Chinese stock rally
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Chinese regulators are zeroing in on one of the country’s most prominent AI and computing firms, after a probe uncovered how the chairman’s wife secretly traded 150 million yuan ($21 million) of company stock during a year-long mega-rally.
Dawning Information Industry Co., one of a plethora of Chinese technology leaders blacklisted by the US, described how Zhang Dihua pocketed 590,000 yuan from 232 trades between March 3 2023 and March 14 2024. The company’s shares surged more than 50% during the period.