The boom in China stock prices that has created more than 100 new billionaires and billionaire families in the past month is continuing this week. Among the newcomers to that elite group in this past few days are:
Chen Fucheng, 43, who owns 45.3% of the Shenzhen-listed Songz Automobile Air Conditioning, a stake worth over $1 billion at Wednesday's closing price of 29.09 yuan, including disposals this month. Shares have more than doubled in the past year.
Xue Hua, chairman of 24%-owned Guangdong Haid Group, made into the billionaire ranks at Wednesday's closing price of 26.6 yuan, after discounting collateral shares.
Zhong Baisheng, chairman of Shenzhen Tempus Global Business Service, became a billionaire after a rise in the share price of his businesses services company. Zhong, 50, owns 22.9% of Tempus, a stake worth $1 billion at Wednesday’s closing price of 51.28 yuan. That estimate includes dividends.
Song Rui, vice chairman of Shindoo Chemi-industry Co, had a fortune worth $1 billion as of Wednesday owing to his 64% stake, shared with family, in the fertilizer supplier. That estimate discounts collateralized shares. Song received an EMBA degree from Cheung Kong Graduate School of Business on 2006.
Mu Laian, director of Shanghai Kaibao Pharmaceutical, also became a billionaire on Wednesday following gains in his Shenzhen-listed pharmaceutical company. Mu, 60, and his family own 35% of Shanghai Kaibao, a stake worth $1.1 billion at Wednesday’s closing price of 21.47 yuan. That estimate includes disposals and dividends. Shanghai Kaibao’s revenue was 418.5 million yuan, or $67.5 million, in the first quarter of 2015, an increase of 10.1% from a year earlier; net profit was 89.14 million yuan, or $14.37 million, a rise of 11%.
Liu Jincheng, chairman of EVE Energy, became a billionaire this week after a rise in the price of his lithium cell supplier. Liu,51, and his wife own 51% of the listed company, a stake worth $1.1 billion at Wednesday’s closing price of 35.11yuan. That estimate discounts collateralized shares, and includes dividends and disposals.
Tu Shanzhong, chairman of Pubang Landscape Architecture, became China’s newest landscape architecture billionaire after shares in his 31%-owned Pubang Landscape Arthitecture closed at a record high of 38.53 yuan on Wednesday. Our estimate of his fortune, at $1 billion on Wednesday, includes discounts for collateralized shares and includes dividends. Pubang’s shares have more than doubled in the past year.
-- with Maggie Chen, Mao Yanjie, Xiao Di, Luman Ouyang and Eeva Eronen
