(Yicai Global) Dec. 6 -- The founder of Chinese power battery giant Contemporary Amperex Technology plans to donate shares worth CNY1.3 billion (USD206 million) to his alma mater, Shanghai Jiao Tong University, to support the development of its education business.

Robin Zeng, who is also CATL’s chairman and controlling shareholder, will transfer two million shares to the university, equal to 0.09 percent of CATL’s total share capital, the Ningde-based firm said in a statement on Dec. 3.

The stake is worth CNY1.3 billion based on today’s closing price of CNY657.28 (USD103.15). The shares [SHE:300750] soared to a record high of CNY692 on Dec. 2.

The donation is the third largest to a Chinese university after the CNY5.3 billion of shares gifted by property developer China Vanke to Tsinghua University last year, and the CNY2.2 billion given by Country Garden founder Yang Guoqiang to Tsinghua University in 2018.

Zheng graduated from Shanghai Jiao Tong University’s School of Naval Architecture, Ocean and Civil Engineering in 1989. He was named a member of the university’s board in April, when he donated money to set up the Robin Zeng Educational Foundation.

Editor: Futura Costaglione