Tuopo's Wu Jianshu Becomes Newest China Auto Industry Billionaire.

  A 44% jump in the shares of auto parts maker Ningbo Tuopu Group to their upper price limit on its first day of trading today has turned chairman Wu Jianshu into China’s latest auto industry billionaire.

Wu’s 73.7% stake was worth 7.8 billion yuan, or about $1.3 billion, after the stock’s climb at the Shanghai Stock Exchange.
Founded in 1983, Tuopu supplies vibration, acoustic and suspension products. Its major customers include Audi and BMW. The company’s revenue in 2014 was 2.7 billion yuan, or $437 million, up 18.5% from a year earlier. Net profit last year was 399 million yuan, or $64 million, an increase of 17.5% from 2013.
China, home to the world’s largest auto market, has birthed several of industry’s newest billionaires in recent years. New auto-related members of the 2015 Forbes Billionaires List released this month that made their fortune in China include Chin Jong Hwa of Taiwan and Wang Jianfeng of the mainland.
Wu, born in Ninghai in Zhejiang Province in 1964, became a Hong Kong citizen in 2006.  Wu also has real estate interests.

forbes.

Popular posts from this blog

UK GENERAL ELECTIONS:Inquiry announced into memo alleging Sturgeon wants Tory election victory.

Image
Civil service instigates investigation into leaked memo from Foreign Office about supposed comments made in February Scotland’s first minister, Nicola Sturgeon, with David Cameron in her office at the Scottish parliament earlier this year. Photograph: WPA Pool/Getty A civil service inquiry into a leaked memo which claimed that Nicola Sturgeon privately wanted to see David Cameron remain in power after the general election has been instigated following calls from the First Minister. Ms Sturgeon described the allegation as “100% untrue” and accused Whitehall of “dirty tricks”.
Read more

Ebola Outbreak: Guinea Declares Emergency As Overall Deaths From Ebola Rise To 1,069

Image
Health workers take passengers' temperatures infrared digital laser thermometers at the Felix Houphouet Boigny international airport in Abidjan on Aug. 13, 2014. Ivory Coast on Monday banned air travellers from Guinea, Liberia and Sierra Leone, the three countries worst-hit by the Ebola outbreak, and ordered its flagship carrier Air Cote d'Ivoire to cease flights to and from them. Reuters/Luc Gnago Guinea, one of the worst-hit West African nations in the ongoing Ebola outbreak, announced a state of emergency Wednesday. The World Health Organization, or WHO, also  said  that four new people died in Guinea between Aug. 10 and Aug. 11. The total death count in Guinea from the latest epidemic was estimated at 377 by WHO while the number of cases reported had risen to 510. Overa
Read more