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Beauty App Meitu Produces Its Second Billionaire

  • Stock climbs for nine straight days to record in Hong Kong
  • Chairman and Co-founder Cai was first Meitu billionaire
Wu Xinhong.

Wu Xinhong.

Photographer: Anthony Kwan/Bloomberg
Updated on

Wu Xinhong, co-founder and chief executive officer of Meitu Inc., became the second billionaire at the Chinese beauty-enhancing selfie app developer after the stock posted its longest winning streak since its December debut.

The stock extended gains since it was added to a second equity-trading link between China’s Shenzhen exchange and Hong Kong on March 6, rising 4.6 percent to HK$14.88 at the close in Hong Kong on Thursday. The 10th straight advance also pushed the shares to a record, giving Wu a net worth of $1.1 billion, according to the Bloomberg Billionaires Index.