Chen Tao Viral Video: Chinese Billionaire Caught on Camera Kissing Woman in Lift, Company Loses 2.9 Billion After Clip Surfaces
A viral social media video of married Victory Giant Technology chairman Chen Tao kissing a woman in a lift triggered a stock plunge, wiping 20 billion yuan (USD 2.9 billion) off the firm's value. The Nvidia PCB supplier stated the personal scandal does not impact its ongoing manufacturing operations, and shares have since stabilised.
A personal scandal involving Chen Tao, the billionaire chairman and founder of major Chinese electronics manufacturer Victory Giant Technology (also known as Shenghong Technology), triggered a massive stock sell-off that erased approximately 20 billion yuan (USD 2.9 billion) from the company’s market value. The financial volatility follows the viral spread of online footage appearing to show the married executive in an intimate encounter with a woman inside an elevator. The viral video shows Chen Tao allegedly caught on camera kissing a woman inside a lift.
Despite the initial market shock, investor sentiment showed signs of stabilisation, with company shares staging a modest recovery in subsequent trading sessions. Viral Video Shows ‘7-Star’ Dining Experience at State-Owned Hospital in China, Video Goes Viral.
Alleged Viral Video Shows Chen Tao Kissing Woman in Lift
Origin of the Infidelity Allegations Against Chen Tao
The controversy began on June 6 when a user operating under the pseudonym "Zhenzhen Janice" posted a series of allegations on the Chinese social media platform Douyin. The posts featured screenshots of private chat logs alongside video footage that appeared to capture the 54-year-old chairman holding hands, hugging, and kissing a woman inside an elevator. The social media user publicly claimed to be romantically involved with Chen, who is legally married. The media assets quickly breached mainstream Chinese internet channels, generating heavy online discussion regarding corporate leadership conduct.
Sudden Stock Plunge and Financial Impact
The viral scandal immediately impacted the stock market as trading commenced on June 8. Shares of Victory Giant Technology - also known in domestic markets as Shenghong Technology - dropped sharply, with its A-shares plunging more than 9 per cent at the lowest point of the session. According to regional financial reports, the rapid sell-off wiped out more than 20 billion yuan (USD 2.9 billion) in market capitalisation within a matter of hours. The company's Hong Kong-listed H-shares also faced corresponding downward pressure. However, panic selling eased the following day, allowing both share classes to rebound as institutional buyers stepped back in.
Corporate Response and Operational Status
In an effort to reassure investors and mitigate the fallout, Victory Giant Technology issued official statements to multiple media outlets, including ifeng Finance and the Southern Metropolis Daily. The firm insisted that the personal conduct of its founder has no bearing on its manufacturing outputs or financial health. "The information currently circulating online is unrelated to the company's operations, nor does it involve major matters requiring disclosure such as corporate governance or internal controls. The company's overall production and operational activities have not been affected in any way," the company said.
When pressed by reporters regarding Chen's current physical whereabouts or whether the board would pressure him to resign, company representatives declined to provide specifics. Staff members stated that "this pertains to personal privacy, it is inconvenient to discuss" and advised investors to "please refer to company announcements". Viral Video From China: Seven Stolen Pet Dogs Form a Pack To Escape Chinese Dog Meat Trade.
Supply Chain Relevance and Context
Victory Giant Technology has experienced rapid growth in recent years, largely due to its positioning as a primary printed circuit board (PCB) supplier to American artificial intelligence chip giant Nvidia. The company currently commands a total market valuation of approximately 360 billion yuan (USD 50 billion). Following the company's manufacturing boom within the global AI infrastructure supply chain, Chen Tao’s personal net worth rose to USD 11.6 billion, according to data tracked by the Bloomberg Billionaires Index.
(The above story first appeared on LatestLY on Jun 12, 2026 01:32 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).