Xinwei Group was founded in 1995 and is well-known in the communications industry. The company has participated in the formulation of three major national and international wireless communication technology standards: SCDMA, TD-SCDMA and McWiLL.

In 2001, Xinwei Group was restructured into a joint-stock system and has continued to increase capital and shareholdings since 2005. At that time, Datang Telecom (600198.SH) was its controlling shareholder.

According to "Securities Market Weekly", in 2010, Wang Jing achieved control of Xinwei Group through Yangpu Bernard Investment Development Co., Ltd., and he paid a total of 95.92 million yuan.

Three years later, Xinwei Group was successfully listed through "backdoor" Zhongchuang Xintai. Wang Jing became a billionaire by virtue of his shares in Xinwei Group.

Due to its huge scale, this "backdoor case" was once called "the largest backdoor case in the history of A-shares."

According to the restructuring plan at the time, Xinwei Group's "backdoor" Zhongchuang Information Testing transaction totaled approximately 26.888 billion yuan.

At the same time, the listed company also raised supporting funds of no more than 4 billion yuan at a price of no less than 7.74 yuan per share.

Before the backdoor suspension, Zhongchuang Information Testing’s market value was only 1.175 billion yuan, but it completed acquisitions totaling more than 30 billion yuan.

And along with this "largest backdoor case in the history of A-shares" at that time, strange things continued to happen.

Unlike these low-key "suddenly rich" shareholders, Wang Jing frequently made large-scale operations overseas, earning Xinwei Group a lot of attention.

Tianyancha information shows that Wang Jing has many companies under his name, and the actual number of companies he controls is 65.