iFlytek(SHE: 002230)'s stock price strikes to record high after the company disclosed a plan for the company's chairman Liu Qingfeng to increase shareholding.

On January 19, the company disclosed a plan of a non-public issue for the chairman of the company Liu Qingfeng and Yanchi Technology, a company also under Liu's control.

The plan shows that the issue price is 33.58 yuan per share, the total amount of funds raised is not less than 2 billion yuan and not more than 2.6 billion yuan.

The same day, iFlytek shares rose to a new high in two years of 48.37 yuan, Xunfei's market value also hit a new record high of 100 billion, entering the "100 billion club."

Today, KU iFlytek shares rose by 10.01% to close at 51.78 yuan, a record high.

According to the 2020 third quarterly report, the company still has 3.14 billion yuan on its books.

The reason behind the company's non-public issue is for Liu and the actual controllers to grasp more control.

Liu Qingfeng and Yanchi Technology currently hold 4.40% and 2.31% of the shares, respectively. After the issue, Liu Qingfeng's ownership will change to 7.35%, and Yanchi Technology will hold 2.49%, which, together with the acting association, will raise the total voting power of the actual controller to 18.99%.

The non-public issue also conveys a message: the core executives are confident in the company's future. And it is even possible that they may have found new market opportunities.