The frenzy of account opening triggered a surge in the stock price of Tonghuashun, and China's fiscal stimulus helped drive a 225% surge in Tonghuashun's stock price.

After China launched a series of fiscal stimulus measures in September, one of the biggest winners is none other than the tycoon Yi Zheng behind the Tonghuashun trading program. According to Bloomberg, Yi Zheng's wealth has big pump by 190%, and his current net worth is as high as 9.2 billion USD.

Since the end of September, Tonghuashun has risen more than twice.

After a series of fiscal stimulus measures were launched in China in September, it remains to be seen whether these comprehensive measures can effectively boost the 10 trillion US dollar stock market in China after several months of turbulence.

The Shanghai Stock Exchange Composite Index has risen by 22% so far, while the Hang Seng Index has only a remaining increase of 6%, but HITHINK ROYALFLUSH (stock code 300033) has surged by as much as 225%.

The frenzy of account opening helps to boost the stock price of Tonghua Shun, big pump

Yi Zheng, who graduated from the Department of Electrical Engineering at Zhejiang University in 1994 (four years after the establishment of the Chinese Securities Exchange), founded Hithink RoyalFlush Information Network Co., Ltd., a company focusing on financial data and software services.

According to Bloomberg, Yizheng Wealth has experienced a big pump, with a net worth of 9.2 billion US dollars, representing a 190% increase. This is mainly due to his 36% stake in the company, which also released financial data. Its stock price has pumped 125% this year and is expected to make this the best year since 2019.

With the stimulus measures in China, the mainland A-share market opened 6.85 million accounts in October, while the average monthly account number for the first 9 months of 2024 was 1.5 million.

According to the company's website, Tiger Brokers' free trading platform has over 19 million active users per week. The Hangzhou, Zhejiang-based company reported a revenue of 3.6 billion yuan (approximately 495 million U.S. dollars) in 2023. Tiger Brokers also generates revenue through the sale of funds and software. After paying a certain fee, retail investors can use AI artificial intelligence on their application to find the appropriate prices for buying and selling stock positions.

Tonghuashun is named after the best hand in poker. It was first listed on the Shenzhen Stock Exchange in China at the end of 2009. Since its listing, its stock price has soared more than 4,900%.

This article sparked a frenzy of account openings, causing the stock price of Tonghuashun to soar 225% with the help of China's fiscal stimulus, first appearing on ChainNews ABMedia.