An intimate video in an elevator plunged PCB giant Shenghong Technology, with a market value of over 300 billion yuan, into an unexpected storm of public opinion. According to media reports, the aforementioned video was posted by Douyin user "Zhenzhen Janice" ("Zhenzhen" for short), who claimed that Chen Tao not only concealed her physical condition to trick her into giving birth to a child, but also directly blocked her and lost contact with her after she was hospitalized for depression.
Chen Tao is the chairman of the listed company Shenghong Technology. He is also affectionately called his "Chinese partner" by Nvidia CEO Jensen Huang.
Regarding the "elevator door" incident, Shenghong Technology responded that the news spread online has nothing to do with the company's production and operation activities. Company president Zhao Qixiang also said that Chen Tao has communicated with the company's directors about the relevant situation. The new news posted online is not completely true and the company has called the police.
On June 8, Shenghong Technology’s stock price closed at 314.8 yuan per share, down 7.11% from the previous trading day, and its market value shrank by more than 23 billion yuan in a single day.
On June 9, Shenghong Technology’s share price rebounded 8.82% to 342.55 yuan/share. On June 10, Shenghong Technology’s share price fell again by 3.59%, with the latest market value of approximately 324.6 billion yuan.
It is worth mentioning that in the "2026 Hurun Global Rich List" announced in March this year, Chen Tao and Liu Chunlan, with a net worth of 68 billion yuan, aspired to be the richest people (based on their place of residence) in Huizhou, Guangdong.
The richest man in Huizhou is involved in the "peach scandal", CEO of Shenghong Technology: It is not completely true
On June 6, Douyin user "Zhenzhen Janice" posted a surveillance video on the social platform and claimed that the man kissing her intimately in the video was Chen Tao, chairman of Shenghong Technology. The video was allegedly shot in the company's exclusive elevator in April 2025.
According to Phoenix Finance's "Company Research Institute", the user revealed that his relationship with Chen Tao began in 2022. After joining a related position in Shenghong Technology, she established a relationship with the other party.
"Chen Tao lied to me to give him a child as soon as we met. Later I found out that he had asthenozoospermia," Zhenzhen said. "I was angry because everything was fine. But when I was hospitalized for depression, he blocked me and I couldn't be contacted. Until now, I don't want to contact him anymore."
Zhenzhen also said: "When I met him, he was a younger brother. I was an Internet celebrity and I had savings but not much. He was an entrepreneur and he expanded with debts of over 100 million. I accompanied him from 30 billion to 300 billion. Since I met him, he has spent hundreds of thousands on me. He has not taught me how to trade stocks. I still have to pay my own rent and living expenses."
When netizens questioned the source of the video, Zhenzhen directly said, "He asked me to go to the property to take it to the police."
As for the moral accusation of interfering in the lives of married people, Zhenzhen responded: "A Tao said there was nothing he could do for the sake of the children."
According to Phoenix Finance's "Company Research Institute", as early as September last year, this dispute was suspected to have been exposed on a small scale. Now the old thing is brought up again, but it catches up with the highlight moment of Shenghong Technology.
In 2025, there will be a wave of AI boom in China. With its status as an Nvidia supplier, Shenghong Technology’s stock price continues to soar. In April this year, Shenghong Technology successfully landed on the Hong Kong stock market, and its A-share stock price once reached a historical high of 402.6 yuan/share.
Perhaps affected by the "elevator door" incident, on June 8, Shenghong Technology's share price fell 7.11% to 314.8 yuan per share, and its market value shrank by more than 23 billion yuan in a single day.
On June 9, Shenghong Technology’s stock price recovered, rising 8.82% in a single day. However, on June 10, Shenghong Technology’s share price fell again by 3.59%, with the latest market value being approximately 324.6 billion yuan.
Regarding the rumors that have caused a stir, on the morning of June 8, Shenghong Technology told the media that the company has paid attention to the relevant information, but the content reflected in the online video and related information has nothing to do with the company's production and operation activities, nor does it involve corporate governance, internal control or any major information that should be disclosed.
Shenghong Technology also emphasized that these matters will not have any impact on the company's daily operations. At present, the company's production and operation activities are all normal, orders are abundant, and all work is progressing in an orderly manner.
However, as of now, Chen Tao, one of the parties involved in this incident, has not publicly responded to the matter. According to the Changjiang Business Daily, Chen Tao’s spouse Liu Chunlan has already negotiated with Zhenzhen.
According to media reports, Zhao Qixiang, president of Shenghong Technology, said in an interview with the media that Chen Tao had communicated with the company's directors about the relevant situation. "The news spread online is not completely true. The company has called the police on June 6 and the relevant departments have intervened."
Zhao Qixiang also said that the company has paid attention to the feedback from online investors, and the Shenzhen Stock Exchange has also paid attention to the matter, but whether it needs to issue an announcement remains to be evaluated.
Regarding calling the police, Zhenzhen responded: "I have promised to shut up. I keep my word. If I am fine, everyone is fine. If something happens to me, we will die together."
Couple born in the 1970s started a business and accumulated a net worth of 68 billion
Tianyancha shows that Shenghong Technology (Huizhou) Co., Ltd. was officially registered in 2006. The company focuses on the research and development, production and sales of high-precision multi-layer, HDI PCB, FPC and soft-hard board.
As the global leader in AI computing power PCB, Shenghong Technology's products are widely used in artificial intelligence, big data centers, industrial interconnection, automotive electronics (new energy), new generation communication technology, new energy, aerospace, medical instruments and other fields.
The success of Shenghong Technology is inseparable from the joint efforts of Chen Tao and Liu Chunlan. Public information shows that Chen Tao was born in Longnan, Gansu Province in 1972. He went to Xinjiang to serve as a soldier when he was 17 years old. After retiring, he worked in the Kashgar Second Light Bureau.
In 1995, when Chen Tao went on a business trip to Guangdong, he was moved by the vibrant scene at the forefront of reform and opening up, so he resigned and went south the next year.
After arriving alone in Huizhou, Guangdong, Chen Tao started working as a salesperson for a foreign company and secured an order worth 2 million yuan in less than two months.
After coming into contact with the PCB industry, Chen Tao was so excited that the supply of products exceeded the demand for the blue ocean, so he decisively devoted himself to entrepreneurship.
In 2001, Chen Tao and his old colleagues invested 500,000 yuan to establish Shenzhen Shenghua Xinye Investment Co., Ltd., which was mainly engaged in the resale business of circuit board equipment.
Tianyancha shows that at that time, 24-year-old Liu Chunlan served as a supervisor of Shenghua Xinye and became the general manager of Shenghua Xinye 11 years later.
Relying on low prices and quick maintenance strategies, the company earned 20 million yuan in just three years, thereby completing the accumulation of original capital.
In 2003, the couple co-founded Shenghua Electronics (the predecessor of Shenghong Technology) and set a military order for the entire industry to "make samples within 48 hours and receive goods within 7 days". With their efficient delivery capabilities, they won major customers such as TCL and Skyworth.
In 2006, Shenghong Technology planned to build a "10 billion park". In 2008, the first phase of the "Ten Billion Park" project was completed and put into operation, with a monthly production capacity of 50,000 square meters. With the continuous improvement of production capacity, the company's revenue scale has gradually reached 100 million levels.
In order to further open up new tracks such as data centers and communication equipment and complete the transformation of high-end products, Chen Tao successfully promoted Shenghong Technology to be listed on the A-share market in 2015, and has since led the company to continue to expand.
In April this year, Shenghong Technology was successfully listed on the main board of the Hong Kong Stock Exchange, becoming the first "A+H" listed company in Huizhou.
According to the announcement disclosed by Shenghong Technology on April 27, due to the listing in Hong Kong, the company's controlling shareholder Shenghua Xinye and persons acting in concert Shenghong Hong Kong, Liu Chunlan, and Chen Yong had their total shareholding ratio passively diluted from 28.13% to 27.71% while the number of shares held remained unchanged.
Currently, Chen Tao serves as the chairman of Shenghong Technology, and Liu Chunlan is a director of the company. In 2025, the total pre-tax remuneration the two received from the company was 6.3946 million yuan and 3.7546 million yuan respectively.
In the "2026 Hurun Global Rich List" released in March this year, Chen Tao and Liu Chunlan became the richest people in Huizhou with a net worth of 68 billion yuan.
Nearly 1.3 billion was made in the first quarter, and many shareholders reduced their holdings last year
In fact, Shenghong Technology’s recent surge in market value is inseparable from the blessing of this wave of AI. With the explosive growth of AI technology, the iteration of AI computing hardware has given rise to structural growth opportunities in the PCB industry.
In the prospectus for listing in Hong Kong, Shenghong Technology stated that it is one of the major suppliers of advanced artificial intelligence and high-performance computing printed circuit board (PCB) products. With its leading technology, high-quality products and strong production capabilities, the company has become an important partner of many of the world's top technology companies.
According to Frost & Sullivan, in terms of artificial intelligence and high-performance computing power PCB revenue in the first half of 2025, Shenghong Technology ranks first in the world with a market share of 13.8%.
On the evening of January 31 this year, Nvidia CEO Jen-Hsun Huang hosted a banquet for supply chain partners in Taipei, China. Since the market value of the companies represented by the attending chairmen has exceeded NT$1 trillion, this party was also called the "Trillion Dollar Banquet" by the outside world.
Among them, Chen Tao, as the only chairman of a mainland company, has appeared at the "Trillion Dollar Banquet" for two consecutive years and took photos with Huang Renxun. Huang Renxun even publicly called Chen Tao "China's partner" and "NVIDIA's key man in China."
Driven by the strong increase in demand for AI computing power from major technology companies such as NVIDIA, Shenghong Technology's performance has grown rapidly in recent years.
In 2025, Shenghong Technology achieved revenue of 19.292 billion yuan, a year-on-year increase of 79.77%; it recorded a net profit attributable to the parent company of 4.312 billion yuan, a year-on-year increase of 273.52%.
In the first quarter of this year, Shenghong Technology's revenue increased again by 27.99% to 5.519 billion yuan, and the net profit attributable to the parent company increased significantly by 39.95% to 1.288 billion yuan. The single-quarter net profit has exceeded the full-year level in 2024.
However, Shenghong Technology also faces certain risks of concentration of large customers. The annual report shows that in 2025, the company's top five customers will contribute a total of 8.098 billion yuan in sales, accounting for 41.98% of the company's total annual sales. Among them, the sales of the top three customers alone accounted for more than 37% of the total annual sales.
It is worth mentioning that as the company's stock price soared, many shareholders or executives of Shenghong Technology have launched plans to reduce their holdings due to their own capital needs.
On May 30 last year, Shenghong Technology announced that the company’s controlling shareholder Shenghua Xinye had reduced its holdings of 25.73 million shares through price inquiry transfers, accounting for 2.98% of the company’s total share capital. Calculated based on the inquiry transfer price of 65.85 yuan/share, the total cash out is approximately 1.69 billion yuan.
From July 31 to August 1 of the same year, Shenghong Technology’s director Liu Chunlan, director and president Zhao Qixiang, director and vice president Chen Yong, executive vice president Wang Hui, and financial director Zhu Guoqiang reduced their holdings by a total of 2.37 million shares, cashing out a total of approximately 450 million yuan.