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chifeng gold ipo, founder's widow is doing landlord business

2024-09-15

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text/yang hongbin, ruicaijing

li jinyang does not seem to be interested in governing the company.

her husband is zhao meiguang, who is known as one of the four richest people in inner mongolia. his main wealth comes from an a-share listed company called chifeng gold. in april 2021, zhao meiguang was listed on the forbes global rich list with a wealth of us$1 billion.

in december 2021, zhao meiguang unfortunately passed away due to illness. according to his will, all his personal inheritance belonged to li jinyang, and one of his most important properties was the control of chifeng gold.

although she succeeded her husband as the controller of chifeng gold, li jinyang did not take up the scepter. chifeng gold is currently managed by a team of professional managers headed by wang jianhua. and due to chifeng gold's equity incentive plan, li jinyang's shareholding has continued to shrink.

although li jinyang is no longer employed by chifeng gold, he has become the landlord of chifeng gold, renting houses to chifeng gold and providing property services. under the leadership of wang jianhua and others, chifeng gold has developed well and recently submitted a listing application to the hong kong stock exchange, preparing to achieve a-share and h-share listing.

from an operational perspective, chifeng gold's revenue has grown year by year, with revenue from the top five customers accounting for more than 70%. the company has continued to make profits, earning nearly 2 billion in three years, but the dividends are relatively small, with only one dividend of 82.4 million in the first three months of 2021-2024.

in terms of liquidity, chifeng gold has little debt pressure in the short term, and the funds on hand are sufficient to cover short-term debts. the company's debt-to-asset ratio has remained at a low level.