Jifeng Auto’s Wang Becomes Billionaire as Shares Rise to Record

Wang Yiping, Ningbo Jifeng Auto Parts Co.’s chairman, became a billionaire as the maker of parts for car seats and other vehicle components climbed to a record.

Wang, 54, owns about 73 percent of the Ningbo-based company together with his wife and son. He has a fortune valued at $1 billion, according to the Bloomberg Billionaires Index. The stock climbed 6.3 percent to 20.4 yuan ($3.28) at the Shanghai close, the highest since it went public more than a month ago.

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