Wuji Capital suspected of insider trading under investigation, founder Qian Tao has extensive connections across the Taiwan Strait and heavily invested in the Golden Bulls basketball team

The Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) announced that on March 10 and 11, they conducted a joint operation codenamed "Detonator" to combat insider trading and related corruption. The ICAC arrested 8 individuals during the operation, including senior personnel from two securities firms and a hedge fund management company, as well as an intermediary. Additionally, according to reports cited by Bloomberg, the offices of CITIC Securities (6030) and Guotai Junan International (1788) were raided, and Infini Capital, under Qian Tao, was also affected. Related articles: Senior executives of securities firms suspected of bribery promoting insider trading, hedge funds short selling profit 300 million, ICAC and SFC jointly arrest 8 individuals, market participants worry about the infiltration of underground rules in mainland China. Signed a $1 billion cooperation agreement with UBTECH ROBOTICS Infini Capital has been active in the capital market in recent years, making significant investments. According to incomplete statistics, last year Infini Capital participated in 5 Hong Kong stock placement transactions, including SenseTime (020), with a total investment amount reaching HKD 14.7 billion; Black Sesame Intelligence (2533) announced this Tuesday that it would place shares to a fund under Infini Capital for HKD 630 million, but the placement agents were CICC and Huatai International. In addition to placements, Infini Capital actively participated as a cornerstone investor in local IPOs, including Apex Medical (2675) and Woan Robotics (660). UBTECH ROBOTICS (9880) has conducted 6 placements since its listing at the end of 2023, with Guotai Junan participating in all of them, and CITIC Securities participating in 5. In August last year, UBTECH ROBOTICS signed a strategic partnership cooperation agreement worth $1 billion with Infini Capital, with financing methods including participation in placements, subscription of convertible bonds, and granting cash withdrawal rights. Infini Capital participated in Hong Kong stock placement activities last year with substantial investment amounts, including SenseTime, Xiexin Technology (3800), China Ruyi (136), Weimob Group (2013), and Fourth Paradigm (6682), with investment amounts of approximately HKD 2.5 billion, HKD 5.45 billion, HKD 3.9 billion, nearly HKD 1.56 billion, and about HKD 1.31 billion, respectively. Additionally, according to domestic media reports, in the placement activity of SenseTime in July 2025, Infini Capital, Guotai Junan International, and CITIC Securities' CITIC Lyon Securities all participated. Infini Capital participated as the only subscriber in the placement, while Guotai Junan International and CITIC Lyon Securities acted as joint placement agents. At that time, the placement price was discounted by 6% compared to the stock price on that day. SenseTime announced the placement news before the market opened, and the stock price surged 8% on that day, but subsequently fell on 4 out of the next 5 trading days, accumulating a decline of 12.1%. Bloomberg cited sources indicating that JP Morgan and UBS terminated their prime brokerage business relationship with Infini Capital several months ago; and cited documents from the U.S. Securities and Exchange Commission (SEC) last March showing that JP Morgan, UBS, and Standard Chartered Bank were all listed as prime brokers for Infini Capital. Founder Qian Tao has extensive connections across the Taiwan Strait and invests heavily in the Golden Bulls basketball team In recent years, Qian Tao (Tony Chin), who has been active in the capital market, was born in Shanghai and moved to Hong Kong at the age of 3. He attended Suzhou and Zhejiang Primary School and St. Stephen's College in Hong Kong, and studied for a dual bachelor's degree in Economics and Mathematics at the University of Michigan, Ann Arbor. After years in the capital market, he founded the alternative investment platform Infini Capital in 2015 and is currently a consultant for the Hong Kong Unity Fund founded by former Chief Executive Tung Chee-hwa According to the official website of Wuji Capital, Qian Tao's career began in the mergers and acquisitions departments of Morgan Stanley and HSBC; thereafter, starting in 2011, he engaged in trading in mainland China using statistical arbitrage and relative value strategies; ultimately, he entered the offshore market in 2015 and founded Wuji Capital. It is worth noting that Qian Tao resigned as Responsible Officer of Wuji Capital at the end of last year. Qian Tao is a sports enthusiast and founded the Hong Kong Golden Bull Basketball Club and the Hong Kong Golden Bull Education Charity Foundation in 2023. More importantly, his network spans across the two sides of the Taiwan Strait and three regions. During the pandemic, Qian Tao settled in Taiwan with his then-pregnant wife. A basketball lover, he became embroiled in controversy due to his investment in the "Kaohsiung 17 Live Steelmen" basketball team, where Jeremy Lin plays, but ultimately became a shareholder of the team