Core Viewpoint - The article highlights the remarkable journey of Haibo Sichuang, founded by Zhang Jianhui, who returned to China from the U.S. to tap into the burgeoning energy storage market, ultimately leading to a successful IPO and significant returns for early investors [3][5][12]. Company Overview - Haibo Sichuang was established in 2011 by Zhang Jianhui, a Tsinghua University alumnus, who left a high-paying job in the U.S. to pursue opportunities in China's energy storage sector [5][6]. - The company initially focused on battery management systems and later expanded into the energy storage market, positioning itself as a systems integrator leveraging AI technology [6][12]. Investment Journey - Early angel investors, including Zhang's Tsinghua classmates, supported the company through multiple funding rounds, demonstrating a long-term commitment that spanned 14 years [3][11]. - The company faced significant challenges, including a cash flow crisis in 2016 due to regulatory changes affecting battery systems, which led to a substantial inventory backlog [8][9]. - In critical moments, investors provided additional funding, including a notable 20 million loan to cover employee salaries during tough times [9][10]. IPO Success - Haibo Sichuang successfully went public on the STAR Market in January 2023, with an opening price of 73.6 CNY per share, significantly higher than its IPO price of 19.38 CNY [12]. - The stock price surged over tenfold since its IPO, reaching a market capitalization of approximately 500 billion CNY, resulting in substantial returns for investors [5][12]. Investor Returns - The early angel investors, particularly 清控银杏, saw their investment grow exponentially, with returns exceeding a thousand times their initial investment [11][12]. - 清控银杏, which participated in five of the seven funding rounds, holds about 12.26% of the company, translating to a market value of over 60 billion CNY based on the current valuation [12].