China has added two new tech billionaires to their IPOs.

Two listings of Chinese tech businesses added new members to the country’s billionaire ranks on Friday.

Memory chip supplier Shenzhen Longxi Electronics rose 77.8% to 99 yuan on the Shenzhen Stock Market. The company’s chairman, Cai Huabo, held at least $2.1 billion worth of shares on Friday.

Longsys is relatively well-known in the chip business, having acquired the Lexar brand from Micron in 2017.

Semitronics Corp., a provider of chip-related software, rose nearly 156 percent to close at 148.35 yuan in Shenzhen debut. That makes its chairman, Zheng Yongju, worth $1 billion.

China is home to the second largest number of billionaires in the world after the US. At a time when China is working to reduce its semiconductor imports, domestic investors have praised the prospects of home-grown chip suppliers.

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@rflannerychina