[ad_1]
The Shenzhen Stock Exchange is one of the world’s largest stock exchanges. (Photo by VCG/VCG via Getty) … [+]
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.
See related posts:
The US-China Trade Outlook: New Paths Ahead
China mints new billionaire in military tension
@rflannerychina
[ad_2]
Source link
