Lianhe Chemical’s Mou Becomes Billionaire on Stock Rise

Mou Jinxiang, chairman of Lianhe Chemical Technology Co., became a billionaire after the pesticide and chemicals manufacturer climbed to a record.

The 61-year-old controls a 34 percent stake in the Taizhou, China-based company valued at more than $1 billion, according to the Bloomberg Billionaires Index. The stock closed at 21.80 yuan ($3.52) in Shenzhen trading on Friday, the highest since it went public in 2008. The company suspended trading on Tuesday to review its 2014 annual report and profit distribution for the year, according to a statement it provided the exchange.

Mou and her late husband, Wang Zhihua, founded Lianhe in 1985, according to the company’s website. She took over the business after Wang died in 1997, according to a 2009 report by Moneyweek, a Chinese wealth-management magazine. Her 38-year-old daughter, Wang Ping, is president at the chemical maker.

The company reported a 26 percent rise in profit to 663 million yuan in a preliminary financial report for the year that was released in January.

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