Recently I got talking with a friend about "A". He discussed with a market maker about Unitree Technology. Wang Xingxing himself did not want to go public, but the capital behind him heavily packaged and pushed him into an IPO, to reap a quick round. The capital behind him made a lot of money, giving Wang Xingxing a small spoonful of soup to let him take the blame.
This can be continued in batches to short.