On the morning of June 4th, FENBI (02469.HK) CEO Zhang Xiaolong issued a public apology via his personal Weibo account regarding the recent controversy surrounding a lecture he gave.
The company's stock price experienced a continuous decline throughout the trading day due to the fallout from Zhang's inappropriate comments. By the market close on June 4th, the share price had settled at HK$0.61, giving the company a total market capitalization of approximately HK$13.5 billion. The stock's 8.96% drop for the day resulted in a single-session market value loss of around HK$1.32 billion.
Alongside the official apology, screenshots of purported text transcripts from the lecture began circulating online. One segment discussing his personal financial status and stock trading profits ignited widespread discussion on social media platforms.
According to the circulated lecture notes, Zhang stated during his speech that he spent the entire month of May using various AI models to study and analyze stocks related to the AI industry chain. He contrasted this with past investment methods, which involved researching industry fundamentals, reviewing annual reports, and consulting with brokers and analysts, noting that the approach has now changed.
In this segment of the record, Zhang disclosed details about his financial situation: "I don't have a lot of money myself. The cash I have on hand is certainly a bit more than most of you students. I have about 80 million yuan in cash. Then, last month, I used all of this 80 million to buy stocks."
Zhang also calculated his purported earnings during the event: "On my way here today, I roughly calculated how much money I made last month. I made 53 million yuan." Regarding his purpose for sharing this information, he stated: "I'm mainly saying this to show off my wealth, to tell you all that I've made a fortune."
In the comments sections of related social media topics, some netizens criticized the apology letter as being "not issued publicly via the official FENBI account," "perfunctory," and a "post-facto apology." Some comments juxtaposed his claims of personal wealth with the company's recent stock market performance, with remarks like: "Tell us about the results of your AI stock trading. How come your company's stock has been on a continuous decline?"
Since he mentioned investing in "AI industry-related stocks" during the lecture and claimed substantial profits, the discussion extended to questions about cross-border capital flows. In comment sections, some netizens inquired whether he was involved in overseas market investments, while others raised questions about the compliance of his investment activities.
While Zhang claimed to have 80 million yuan in disposable cash and reported monthly investment profits of 53 million yuan, FENBI's historical financial reports and related announcements provide another set of public data regarding his compensation as a company executive.
According to data from Choice Financial Terminal and the company's annual reports, as an executive director of FENBI, Zhang Xiaolong's regular remuneration (including salary, bonuses, and other benefits) for the past three years were: 2.578 million yuan in 2023, 3.33 million yuan in 2024, and 2.723 million yuan in 2025.
Beyond his regular salary, information disclosures show that as of December 31, 2025, Zhang held 553.6 million shares, with an ending market value of approximately 1.025 billion yuan. Furthermore, according to relevant announcement records, in May 2026, Zhang reduced his stake in FENBI by 259.7 million shares, lowering his shareholding ratio to 13.12%.
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