His given name has the character chēn, meaning a treasured gem.
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琛 is a literary word for treasure or a precious gem, often a tribute item in old texts. Today it is mostly seen as an auspicious character in personal names.
Right side 罙 is the phonetic element; the sound has shifted from shēn toward chēn, so read it as a sound hint rather than an exact match. It is the same kernel inside 深 (deep).
