Anhui Korrun Co., Ltd. engages in the research, design, production, and sales of various travel products in China and internationally. Its products include trolley cases, backpacks, suitcases, apparel, and related accessories. The company also offers sports and leisure bags; business bags; and other functional soft bags. It sells its products through e-commerce channels such as Tmall, JD.com, Douyin, and Xiaomi. Anhui Korrun Co., Ltd. was founded in 2005 and is based in Shanghai, China.
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Korrun's 2026 interim net profit reaches 211 million yuan
Korrun released its 2026 interim report, with total operating revenue of 2.549 billion yuan and net profit attributable to the parent company of 211 million yuan. Net cash inflow from operating activities was 115 million yuan, a decrease of 124 million yuan from the same period last year, down 51.92 percent. The company's asset-liability ratio was 62.18 percent, gross margin was 23.76 percent, return on equity was 9.92 percent, and diluted earnings per share was 0.88 yuan. The number of shareholders was 8,859, and the top ten shareholders held 69.42 percent of the total share capital.
Korrun's first-half net profit attributable to parent reaches 211 million yuan, up 13.1% year on year
Korrun released its 2026 half-year report, with first-half net profit attributable to the parent company at 211 million yuan, up 13.1% year on year. Operating revenue was 2.549 billion yuan, up 5.02% year on year; net profit attributable to the parent after deducting non-recurring items was 210 million yuan, up 16.3% year on year; net operating cash flow was 115 million yuan, down 51.9% year on year; earnings per share were 0.88 yuan. In the second quarter, operating revenue was 1.29 billion yuan, up 8.2% year on year; net profit attributable to the parent was 112 million yuan, up 10.8% year on year. As of the end of the second quarter, the company's total assets were 5.882 billion yuan, up 1.9% from the end of the previous year; net assets attributable to the parent were 2.129 billion yuan, down 0.9% from the end of the previous year. During the reporting period, the company entered the textile, apparel and fabric manufacturing sector through the acquisition of Shanghai Jiale, and actively expanded its apparel business, achieving notable growth especially amid market opportunities brought by international sporting events.
Kairun Co. Plans Cash Dividend of 2.65 Yuan per 10 Shares
Kairun Co. announced on August 26 that it plans to distribute a cash dividend of 2.65 yuan, tax included, for every 10 shares held by all shareholders, with an estimated total payout of 63.35 million yuan. In the first half of 2026, the company achieved revenue of 2.549 billion yuan and net profit attributable to the parent of 211 million yuan.
Liang Wenfeng's Fund Participates in ChangXin Technology IPO; His Personal Wealth Reaches 244 Billion Yuan
ChangXin Technology is about to list on the STAR Market. Ningbo Huanfang Quantitative Investment Management Partnership and Zhejiang Jiuzhang Asset Management, both founded by DeepSeek and Huanfang Quantitative founder Liang Wenfeng, appeared on the IPO subscription list, collectively deploying nearly 200 funds to submit bids. ChangXin Technology is issuing shares at 8.66 yuan per share, with an IPO valuation of approximately 579.2 billion yuan. In the strategic placement, 30 institutions received a total allocation of 14.437 billion yuan. Several listed companies participated in the placement, and the preliminary online subscription winning rate was 0.40995452 percent. Announcements by By-Health and Korrun indirectly disclosed DeepSeek's valuation at approximately 325 billion yuan and 350.9 billion yuan respectively, while the Bloomberg Billionaires Index shows Liang Wenfeng's net worth at 36 billion US dollars, equivalent to about 244 billion yuan, ranking 63rd on the global rich list. Brokerage research reports estimate ChangXin Technology's steady-state market capitalization after listing to be in the range of 1 trillion to 4 trillion yuan, with a profit potential of about 3,000 to 26,000 yuan per winning lot. The six insurance companies that invested early have an unrealized gain of approximately 18.3 billion yuan based on the issue price, and if the steady-state market capitalization reaches 3 trillion yuan, the unrealized gain could exceed 100 billion yuan.
DeepSeek's enterprise value suggested at $51.8 billion, according to Anhui Kairun's disclosure
Chinese luggage maker Anhui Kairun disclosed on the 16th that a fund it invested in has indirectly acquired a 0.8265% stake in AI startup DeepSeek for 2.9 billion yuan, suggesting an enterprise value of 350.88 billion yuan, or approximately $51.82 billion, for the unlisted company. DeepSeek did not respond to a request for comment. Reuters reported on the 15th that DeepSeek plans to launch a new funding round at a valuation of about 500 billion yuan and has begun early-stage discussions on a potential IPO on the Shanghai Stock Exchange's STAR Market for emerging tech companies.
Kairun Co. discloses indirect investment in DeepSeek with only 0.0114% stake, warns of early-stage loss risks
Kairun Co. issued an announcement stating that its wholly-owned subsidiary invested 40 million yuan indirectly in DeepSeek through a venture capital fund, with a look-through equity stake of only 0.0114%. The investment is a financial investment and has no material impact on the company's performance or main business. The company also flagged risks, noting that the target is still in an early development stage and faces uncertainties in research and development, market competition, and other areas. The company may face risks such as investment returns falling short of expectations, difficulties in exiting, and even loss of investment principal. The announcement showed that the company's stock price rose by a cumulative deviation of over 30% over three consecutive trading days from July 15 to 17, 2026. In the first quarter of 2026, Kairun Co. achieved revenue of 1.257 billion yuan and net profit attributable to the parent of 98.78 million yuan.
A related investment progress announcement by Korrun has unexpectedly revealed DeepSeek's latest market valuation. The announcement shows that Korrun's wholly-owned subsidiary Ningbo Purun invested 40 million yuan to participate in Lisi Xingling, which then invested all of its 2.9 billion yuan in paid-in capital into DeepSeek indirectly by subscribing to shares in Hangzhou Chengli, with Lisi Xingling holding an indirect equity stake of 0.8265%. After equity penetration calculations, Ningbo Purun's ultimate shareholding in DeepSeek is only 0.0114%, implying a post-investment valuation for DeepSeek in this round of approximately 350.877 billion yuan. The announcement cited trade secrets as the reason for exempting the disclosure of DeepSeek's financial data, and noted that this investment is a financial investment with an extremely low penetrated shareholding ratio, does not constitute a significant influence, and carries risks. Hangzhou Chengli, as the shareholding platform for DeepSeek's first round of financing, has attracted investments from CATL, NetEase, JD.com, Tencent, and multiple professional investment institutions. Market sources say DeepSeek has initiated a second round of financing, planning to raise at least 10 billion yuan, and has begun preparations for an A-share IPO.