China’s Zheng Xiaodong Becomes Billionaire as Stock Surges

Zheng Xiaodong, chairman of Shanghai Tofflon Science & Technology Co., became a billionaire as the stock surged to a record.

Shares of the maker of vacuum freeze-drying equipment for pharmaceutical companies jumped 7.2 percent to 30.86 yuan at the close in Shenzhen, the highest since it went public four years ago. Zheng, who has a 63 percent stake in Tofflon Science, has a net worth exceeding $1 billion, based on his stock and cash holdings, according to the Bloomberg Billionaires Index.

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