41 mainland Chinese join super-rich 'US$1b club' after share-price surge
Recent surge in share prices has added dozens to nation's long list of billionaires, among them Zhou Qunfei, now China's richest woman
The recent surge in share prices on the mainland has created at least 41 new super-rich people in the nation whose individual net worth exceeded US$1 billion during the past two months, Forbes business magazine estimates.
At least half of them work in manufacturing industries, and others mostly focused on the finance, energy and retail sectors.
Zhou Qunfei , 45, founder of touchscreen maker Lens Technology, tops the list. She became China's richest woman after her company, which supplies screens to electronic giants including Apple and Samsung, debuted on Shenzhen's ChiNext A-share market on March 18.
Zhou holds nearly 90 per cent of the company's stake and her personal wealth reached 67.4 billion yuan (US$10.9 billion) as her company's shares hit the daily trading limit for 16 consecutive days and closed at 113.87 yuan yesterday.
Two others who have done well on the stock market are Chen Chichang, 44, and Lin Xiaoya, 42, a couple from Guangdong province, who founded Guangdong Qtone Education in 2005.
In the past year, investors' expectations about the robust growth in online education have pushed up the Shenzhen-traded company's stock price by as much as five times to 252.4 yuan per share yesterday. The couple's personal wealth has soared to about US$1.4 billion.
Other new billionaires include Zhang Desheng, founder of multi-industry conglomerate Zhejiang Wanma Group.
Zhang, 65, and his daughter own 51 per cent of the listed company - a stake that was worth more than US$1.06 billion, as the share price closed at 14 yuan yesterday.
His company's stock has more than doubled in the past year.
New billionaires' wealth also changes rapidly because of the rapid fluctuation of stock prices.
Yao Wenchen, chairman of Shanghai Yaoji Playing Card, became a billionaire on April 7 when his company's shares closed at a record high of 25.65 yuan on the Shenzhen Stock Exchange.
However, the stock price of the company fell to 23.41 yuan yesterday, sending his personal wealth below the magic US$1 billion mark.
The Shanghai Composite Index has surged 30 per cent during the past two months, while that of the Shenzhen exchange has risen by 23 per cent.
Other mainland businessmen who have recently become billionaires thanks to a share-price rally on the stock markets include He Ye, director of Shenzhen InfoTech Technologies, Shao Qinxiang, chairman of Zhejiang Garden Bio-chemical High-tech, as well as Chen Qixing, chairman of Shenzhen Everwin Precision Technology.
China had a record 213 people on the 2015 Forbes Billionaires List - second only to the United States.