He's referring to Xu Yuanyuang's sale, at about 50% discount to the market, of a relatively small fraction of the NIC shares her company held.
Here was my guess at the time:
If the shares Shanghai Wanlu hold were gained when they invested $24million in NIC prior to the IPO, then the 97 million shares they still hold after this sale represent a handsome return on that initial investment.
We don't know who purchased the shares in the recent sale, it may be a strategic move with allies. A Christmas deal for some or all of Shanghai Wanlu's 200 employees???
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