The Inheritance of SenseTime Shares after the Passing of its Co-founder
On October 2, Beijing time, last December, the co-founder of SenseTime, Xiaou Tang, unfortunately passed away, and the movement of the company shares he held has attracted attention.
According to Bloomberg, Xiaou Tang's widow, Qiumei Yang, the current adviser and managing director of the Hong Kong Exchanges and Clearing Limited (HKEX) group, inherited his shares and became the largest shareholder of SenseTime.
According to the regulatory filing disclosed by the HKEX in August this year, Qiumei Yang inherited 20% of the SenseTime shares held by Xiaou Tang, currently worth 1.5 billion US dollars.
Documents show that on August 19 this year, more than 6.9 billion unlisted Class A shares of SenseTime were transferred to Qiumei Yang. Eight days later, the same number of shares were converted into Class B shares of SenseTime listed in Hong Kong, accounting for approximately 20% of all issued Class A and Class B shares of SenseTime, making Qiumei Yang the largest shareholder of SenseTime. According to regulations, HKEX employees need to declare the Hong Kong securities they hold internally.
Qiumei Yang did not respond to Bloomberg's comment request sent through LinkedIn. A spokesperson for the HKEX said that the exchange will not comment on its employees. SenseTime has not yet commented on this.
Qiumei Yang is 59 years old and worked at the HKEX from 2010 to 2013 and rejoined the HKEX in 2022 to take up her current position. She has also held other positions, including the CEO of the Asia-Pacific region of the Investment Management Industry Association ICIGlobal and the deputy director of the Fund Department of the China Securities Regulatory Commission.
According to the obituary released by SenseTime, Xiaou Tang passed away due to ineffective medical treatment on December 15, 2023. After this news was announced, the share price of SenseTime once dropped by 18%. In 2014, Xiaou Tang co-founded SenseTime with others and led the company to go public in Hong Kong in 2021.
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The Death of SenseTime's Founder Xiaou Tang: At the Age of 55, He Is a Leading Figure in Chinese AI.