PDD(US:PDD) Jin Rong Jie·2025-03-24 07:53Core Viewpoint - Pinduoduo's founder Huang Zheng has purchased a luxury property in Hong Kong for HKD 480 million, indicating a strategic move in personal asset allocation and diversification of investments [1][2] Group 1: Property Transaction Details - The property located at 33 Island Road, Repulse Bay, has a usable area of 5,039 square feet and a garden of approximately 2,247 square feet, with a price per square foot of about HKD 95,000 [1] - The previous owner, Liang Guoxing, chairman of Yanjing Group, sold the property for over HKD 300 million profit after acquiring it for HKD 168 million in 2005 [1] - The property was initially listed for HKD 600 million but was sold for HKD 480 million after a price reduction of HKD 120 million [1] Group 2: Huang Zheng's Wealth and Investment Strategy - Huang Zheng's wealth has seen rapid growth since founding Pinduoduo in 2015, with a net worth of USD 48.6 billion as of August last year, ranking him 25th globally and first in China [2] - After stepping down as CEO in 2021, Huang has focused on investments and philanthropy, liquidating hundreds of millions of Hong Kong dollars from Pinduoduo shares for investments in agriculture technology and life sciences [2] - The acquisition of the Hong Kong luxury property is viewed as part of Huang's broader strategy for diversifying his investment portfolio [2]