According to CNBC, citing Chinese corporate records and media materials compiled by research firm Tesari, Alice Huang previously co-owned Shanghai Hexi. In 2021, Hexi acquired a 27% stake in Shanghai Century Longteng and held it until 2024. Century Longteng controls a Shenzhen data center whose primary customer is Huawei Cloud. CNBC noted that Hexi also provided financing guarantees for the facility, though the report explicitly stated it remains unclear whether the Shenzhen data center actually acquired NVIDIA GPUs. The above is a media investigation into corporate affiliations and historical shareholdings, and does not equate to confirmed export violations or intelligence activities, nor does it imply that the same equity interest was retained after exiting in 2024. The report added that the companies and individuals involved did not respond to requests for comment.