Sou Hu Cai Jing·2025-11-10 13:45Core Viewpoint - The recent corporate restructuring of Zhiyuan Innovation (Shanghai) Technology Co., Ltd. into a joint-stock company indicates a strategic move towards optimizing its ownership structure and preparing for potential future financing or IPO opportunities [2][5]. Group 1: Corporate Changes - Zhiyuan Innovation has changed its name from Zhiyuan Innovation (Shanghai) Technology Co., Ltd. to Zhiyuan Innovation (Shanghai) Technology Co., Ltd. and transformed from a limited liability company to a joint-stock company [2]. - Key shareholders include Ma Huateng and Wang Chuanfu, holding approximately 1.58% and 0.39% of the shares, respectively [2]. Group 2: Market Position and Valuation - Zhiyuan Innovation, established in February 2023, is a unicorn in the field of embodied intelligence with a valuation exceeding 15 billion yuan [5]. - The company has notable shareholders such as Tencent, BYD, and Hillhouse Capital [5]. Group 3: Recent Developments - Zhiyuan Innovation's subsidiary, Shanghai Zhiyuan Hengyue Technology Partnership, has completed a share acquisition of a listed company, increasing its stake to 58.62% of the total share capital [5]. - The actual controller of the company has shifted to Deng Taihua following this acquisition [5]. Group 4: Stock Performance - The stock of the acquired company, Upwind New Materials, has seen a dramatic increase of 1229.95% from July 9 to November 6, 2025, making it a significant performer in the market [6]. - As of November 10, Upwind New Materials closed at 108.50 yuan per share, with a total market capitalization of 43.765 billion yuan [6].