On June 6th, a surveillance video circulated on social media, setting off a frenzy of public opinion and causing a stir online. Allegations of an extramarital affair involving Chen Tao, the actual controller and chairman of Shenghong Technology, had been brewing on the internet. As a result, on Monday, both A-shares and Hong Kong shares of Shenghong Technology plummeted simultaneously.
In the early trading session on Monday, Shenghong Technology’s A-shares opened significantly lower and continued to decline, at one point dropping by over 9%. By the closing bell, they were down by 7.11%, at 314.80 yuan (RMB) per share, with a market capitalization of approximately 309.4 billion yuan, evaporating over 20 billion yuan compared to the previous trading day. The company’s Hong Kong shares faced similar pressure, closing down by 8.19%, with the market value falling to 332.6 billion Hong Kong dollars.
Market analysts attributed the decline to the “chairman’s private life affecting market sentiment.” Previously, Chen Tao, the actual controller and chairman of Shenghong Technology, was embroiled in rumors surrounding the “elevator incident.”
On June 6th, TikTok influencer “Janice Janice” posted on social media claiming to have a romantic dispute with Chen Tao, accusing him of deceiving her into having a child and revealing chat records and related videos. The most controversial piece of evidence was a surveillance video from an elevator where a middle-aged man was seen behaving intimately with a woman in white, with the poster claiming the man in the video was Chen Tao. The video was taken in April 2025 in Shenghong Technology’s exclusive elevator, over a year ago.
It was reported that this video was not released for the first time. Back in September 2025, it had circulated within a small financial social circle but was quickly suppressed and did not attract widespread attention.
Combining information from various online sources, it was revealed that “Janice Janice” real name is Song Zhenzhen, a native of Dalian, Liaoning, who won the 22nd Miss Chinese Cosmos Southern Champion. She is well-known in Guangdong, with connections to several top executives of listed companies.
After the video went viral, topics like “billionaire chairman elevator incident” and “Shenghong Technology surveillance scandal” quickly trended online, with the number of views exceeding hundreds of millions in a short period.
In response to the incident, Shenghong Technology officially stated on the morning of June 8th that they had noted the related content circulating online, emphasizing that this event is purely a private matter and has no connection to the company’s operations, internal governance, or major disclosures. They reassured that the company’s operating condition remains stable, with sufficient orders and all business operations proceeding as usual.
Phoenix Financial’s “Company Research Institute” attempted to contact Shenghong Technology on June 8th regarding whether the chairman had reported to work as usual, but the response was evasive, stating that it was a personal matter and declining to comment on it, only offering explanations about the company’s business situation. Reacting to inquiries about possible changes in management, they responded that any changes involving senior executives and actual controllers would be formally announced by the company, and they would not entertain interviews concerning personal matters.
According to the official website, Shenghong Technology primarily engages in the research, development, production, and sales of high-density printed circuit boards, including double-sided boards, multilayer boards, and HDI boards, widely used in consumer electronics, network communications, automotive electronics, medical equipment, and other fields. In the supply chain sector, Shenghong Technology is one of NVIDIA’s core suppliers.
Public records show that Chen Tao was born in 1972 in Longnan, Gansu Province, and ventured into the PCB industry in Huizhou in 1996. He founded Shenghua Electronics in 2003 and established Shenghong Technology (Huizhou) Co., Ltd. in July 2006.
Data from Tianyancha shows that Chen Tao currently serves as the legal representative and actual controller of Shenghong Technology. As of March 2025, his compensation reached 6.395 million yuan. The major shareholders of the company are Shenzhen Shenghuaxinye Investment Co., Ltd., controlled by Chen Tao, and Shenghong Technology Group (Hong Kong) Co., Ltd. Chen Tao holds a 90% stake in Shenghuaxinye.
During the Chinese New Year of 2026, Huang Renxun, the founder of NVIDIA, hosted a banquet in Taipei where Chen Tao, as the sole representative of a mainland Chinese enterprise, sat alongside industry giants such as TSMC, Foxconn, and ASUS, which further boosted the company’s stock price at that time.