Shanghai Awinic Technology Chairman Sun Hongjun joined the ranks of China’s billionaires today after the company’s shares tripped in their trading debut at the Shanghai Stock Exchange today.
Awinic closed at 260.80 yuan, up by 240.6% from its IPO price. Sun, a former engineer at Huawei, holds a 41.9% stake worth 18.1 billion yuan, or $2.8 billion, at the end of trade today.
Founded in 2008, Awinic supplies chips used in mobile phones. Its customers include Oppo, Vivo, Lenovo and Xiaomi.
China’s richest chip industry entrepreneur is Yu Renrong, chairman of Will Semiconductor, whose fortune topped $12 billion on the Forbes Real-Time Billionaires List today.
China is home to the world’s second-largest number of billionaires after the United States.
See related posts:
—with Steve Shao and Celine Chen
Follow me @rflannerychina