Two Chinese manufacturers become billionaires with the rally in the country’s stocks.
Han Tao, chairman of Goldenmax International Technology Ltd., which makes parts for printed circuit boards, and Li Chun’an, a board director of Xi’an Longi Silicon Materials Co., a manufacturer of silicon rods and wafers, have fortunes exceeding $1 billion each, according to the Bloomberg Billionaires Index.
Han owns 65 percent of Goldenmax, while Li has an 18 percent stake in Longi Silicon, according to data compiled by Bloomberg. Goldenmax shares surged by the 10 percent daily limit to 35.37 yuan at the Shenzhen close, an all-time high. A 7.1 percent gain in Longi Silicon shares at the start of the week made Li a billionaire yesterday. The stock’s 5.1 percent decline to 64.74 yuan at the Shanghai close today lowered his net worth to $1.02 billion.
The benchmark Shanghai Composite Index rose for a third day, adding 0.3 percent to the highest in more than seven years.