– Zhang Jianping, a prominent retail investor, earned over 1.26 billion yuan in paper gains on August 22, 2025, thanks to his strategic investment in AI chipmaker Cambricon.
– Cambricon’s stock surged by 20% in a single day, reaching 1,243.20 yuan per share and pushing its market capitalization above 520 billion yuan.
– Zhang had built significant positions in Cambricon and other AI-related stocks like Hainan Huatie, Oflytech, Hangzhou Iron & Steel, and Zhongjian Technology, with a total portfolio value nearing 6 billion yuan by the end of Q1 2025.
– The rally was partly triggered by a comment from AI firm DeepSeek, highlighting growing investor confidence in China’s domestic AI and semiconductor ecosystem.
– Zhang’s trading activity reflects a broader trend of strategic positioning in AI infrastructure and compute-centric stocks amid supportive government policies and rising demand for localized tech solutions.
Zhang Jianping’s Strategic Moves in Cambricon
Zhang Jianping, often referred to as one of China’s ‘retail investment giants,’ made headlines with his remarkably timed investment in Cambricon. According to corporate filings, Zhang first appeared among Cambricon’s top ten shareholders at the end of 2024, with 5.3388 million shares valued at approximately 3.513 billion yuan. By the end of Q1 2025, he had increased his stake by 14%, bringing his total holdings to over 6.0863 million shares worth nearly 3.792 billion yuan.
Cambricon, a leading developer of AI chips, had just reported its first quarterly profit since going public in Q4 2024, with revenue surging 76.6% year-on-year to 989 million yuan and net profit reaching 282 million yuan. The company’s strong performance continued into Q1 2025, with revenue exploding by over 42 times to 1.111 billion yuan and net profit hitting 355 million yuan.
Calculating the One-Day Windfall
On August 22, 2025, Cambricon’s stock price soared, breaking through the 1,100 yuan and 1,200 yuan barriers before closing with a 20% gain at 1,243.20 yuan. Based on Zhang’s disclosed holdings of 6.0863 million shares, his paper gains for that single day amounted to approximately 1.261 billion yuan. Even if only his initial 5.3388 million shares were considered, he would have still earned nearly 3 billion yuan since the end of 2024.
Expanding the AI Portfolio: Beyond Cambricon
Zhang’s investment strategy extended well beyond Cambricon. In Q1 2025, he aggressively built positions in four other AI-centric companies: Hainan Huatie, Oflytech, Hangzhou Iron & Steel, and Zhongjian Technology. At the end of the quarter, the combined value of his holdings in these five stocks was nearly 6 billion yuan.
Hainan Huatie: Betting on Compute Infrastructure
Zhang took an 84.2 million share position in Hainan Huatie, making him one of the company’s top ten shareholders with a stake worth 899 million yuan. Hainan Huatie had recently announced its entry into AI compute services, signing contracts worth 24.75 billion yuan by the end of 2024. By March 2025, that figure had grown to 66.7 billion yuan, with over 900 million yuan in assets delivered. The stock rose nearly 85% during Q1, partly driven by a major compute service agreement valued at 3.69 billion yuan.
Oflytech: Data Center and Cloud Services
Zhang also acquired 11.6181 million shares in Oflytech, a provider of data center and internet infrastructure services. The company, which operates across more than 30 Chinese cities, saw its stock rise over 67% in Q1. Zhang’s stake was valued at 282 million yuan at the end of the quarter.
Hangzhou Iron & Steel and Zhongjian Technology: Quick Exits
Zhang’s investments in Hangzhou Iron & Steel and Zhongjian Technology were more short-term. He held 26.9463 million shares in Hangzhou Iron & Steel at the end of Q1, but by June 30, he had reduced his position by at least 82%. Similarly, he cut his stake in Zhongjian Technology by nearly 60% during Q2, despite the company’s involvement in robotics and embodied AI through partnerships with firms like Huawei and 1X Holding AS.
The Bigger Picture: China’s AI and Compute Boom
Zhang Jianping’s bold bet on Cambricon and other AI stocks is emblematic of a larger shift in China’s technology investment landscape. The rally in AI and semiconductor stocks was partly ignited by a comment from DeepSeek, whose latest model, DeepSeek-V3.1, supports FP8 precision and is optimized for next-generation domestic chips. This signals a growing synergy between Chinese AI software and hardware developers.
Government Support and Market Trends
At the 2025 China Compute Conference, government officials emphasized the rapid expansion of smart compute infrastructure to support emerging industries like generative AI, autonomous driving, and smart manufacturing. The Ministry of Industry and Information Technology announced plans to guide regional governments in building high-quality AI compute capacity, with national smart compute output expected to grow by over 40% in 2025.
Lessons from Zhang Jianping’s Investment Strategy
Zhang’s success underscores several key principles for investing in high-growth sectors:
– Early identification of thematic trends: Zhang positioned himself in AI and compute stocks ahead of major market moves.
– Concentration and conviction: His significant stakes in a handful of companies show a willingness to make concentrated bets based on deep research.
– Flexibility: His quick reduction in positions like Hangzhou Iron & Steel demonstrates an ability to capitalize on short-term gains and reallocate capital.
Looking Ahead: Risks and Opportunities in China’s AI Market
While Zhang’s gains are impressive, investors should note the inherent volatility in emerging technology sectors. Companies like Cambricon and Hainan Huatie are still subject to market sentiment, regulatory changes, and competitive pressures. However, with strong government backing and increasing demand for localized AI solutions, the long-term outlook for China’s AI ecosystem remains promising.
For retail investors looking to emulate Zhang’s approach, it is essential to focus on companies with solid fundamentals, clear growth trajectories, and alignment with national strategic goals. Diversification across the AI value chain—from chips and data centers to applications—can help mitigate risks while capturing the sector’s upside.
Zhang Jianping’s bold bet on Cambricon and the broader AI sector offers a masterclass in thematic investing. His ability to identify and act on emerging trends, combined with a disciplined approach to position sizing and risk management, resulted in extraordinary returns. As China continues to prioritize technological self-sufficiency and AI development, investors would do well to keep a close eye on both established players and emerging innovators in this space.