What is Xiong Xuqiang's Net Worth?
Xiong Xuqiang is a Hong Jong businessman who has a net worth of $1.4 billion. One of Hong Kong's richest today, Xiong Xuqiang acquired his billionaire status as the Chairman of Ningbo Yinyi Group, which primarily invests in real estate. He witnessed a slight rise in the value of his shares recently as expectations have risen for the Shenzhen-listed company in 2013. However, the first three quarters of 2013 were rough as the company's net profit dropped by 37% to $52 million, on sales that dipped by 57% from a year earlier to $234 million.
It was in 2010 that Xiong injected his real estate business into the listed firm Gansu Languang Science and Technology, and one year later he changed the company's name to Yinyi Real Estate Group. This Ningbo native who graduated from Zhejiang University founded Yinyi back in 1994 after he successfully turned around a state-owned canned food factory. In addition to the above, Xiong Xuqiang has also made mining investments in Mexico, Indonesia and the Philippines.
