Liu Jianjun with his wife Yao Jinting own half of the company, a stake worth 8.1 billion yuan, or $1.2 billion. Revenue and net profit in 2016 was 2.7 billion yuan and 205.7 million yuan, or $391 million and $30 million, up 23% and 12% from a year earlier. The company sold 25 million new shares at 47.3 yuan per share, raising near 1.2 billion yuan, or $171 million, during its IPO to expand production and sales. Born in 1963, Liu joined a state-owned petrochemical company’s accounting department in Yueyang at age 21. China had 319 billionaires on the 2017 Forbes Billionaires List unveiled earlier this week, second only to 565 in the United States.

Source: Forbes March 24, 2017 06:11 UTC