Jiangsu Light Alloy, Fengfan Power Chairmen Become Billionaires

Zhou Fuhai, chairman of Jiangsu Asia-Pacific Light Alloy Technology Co., and Fang Jiangang, chairman of Changshu Fengfan Power Equipment Co., became billionaires on Friday as their shares climb to new highs.

Zhou, who owns 55 percent of Jiangsu Light Alloy with his daughter and wife., and Fang, who has a 57 percent stake in Fengfan Power along with his two children, each have fortunes exceeding $1 billion, according to the Bloomberg Billionaires Index.

Jiangsu Light Alloy climbed 3.1 percent to 27.84 yuan at the close in Shenzhen, while Fengfan Power rose 3.2 percent to 23.82 yuan at the end of Shanghai trading.

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