DEEPSEEK FOUNDER LIANG'S FUNDS SURGE 57% AS CHINA QUANTS BOOM

Summary from the TLDR AI newsletter

Zhejiang High-Flyer Asset Management posted an average return of 56.6% across its funds in 2025. It was the second-best performer among Chinese quant funds that manage more than 10 billion yuan. High-Flyer has become a cash cow for Liang Wenfeng, DeepSeek's founder, who still holds a majority of the asset manager. DeepSeek's research was funded by High-Flyer's R&D budget. The fund is estimated to have generated revenues of more than $700 million last year.