Package Deliveryman is Now China’s 3rd-Richest Billionaire

Package Deliveryman is Now China’s 3rd-Richest Billionaire

Package Deliveryman is Now China’s 3rd-Richest Billionaire

$FDX, $BABA

A humble deliveryman has now become China’s 3rd-richest billionaire. Wang Wei, 46 anni, Chairman of SF Holding (002352.Shenzhen) – the FedEx of China – has seen his fortune grow to around $27-B, according to a recent estimate.

Wang has knocked out Tencent founder Pony Ma for the 3rd spot, but is still a few billion dollars behind China’s richest man, property tycoon Wang Jianlin (NYSE:AMC) based on a ranking by the Hurun Report.

China’s economy has boomed over the years, and so have the holding of savvy individuals.

The world’s 2nd-largest economy now creates at least 1 new billionaire nearly weekly, according to PricewaterhouseCoopers. Logistics firms like SF are also riding China’s e-Commerce boom, as shopping sites run by Alibaba (NYS:BABA) and JD.com have grown in popularity among consumers.

SF shares soared as much as 40% after the company completed its listing last Friday in Shenzhen. Wang merged his company with one that was already trading aka reverse merger, a quicker path to a public debut.

The Chinese government has been keen to rein in frenzied stock trading – those efforts are seeking to avoid a stock market crash.

Wang started his company in 1993 with about $13,000, sending packages himself along with a handful of other couriers and 1 delivery van, according to state media reports. Now, SF has 15,000 vehicles and a network that covers 200 countries and regions globally.

SF Holding did not immediately respond to a request for comment.

SF Holdings was valued at $38-B at Friday’s close, its shares pulled back 7.8 Saturday, but still biggest market cap issue on the Shenzhen exchange, a magnet for technology listings.

Weyland Tech Inc. (OTCMKT:WEYL) is a provider of mobile business applications, recently entered into a strategic partnership with DPEX Worldwide, a leading provider of express and e-Commerce solutions in Asia.  Its platform can increase sales, reach more customers and promote their products and services via a simple easy to build mobile APPs in an affordable and cost-effective manner.

Symbol Last Trade Date Change Open High Low Volume
NYSE:FDX 194.35 3 March 2017 -0.36 194.54 195.29 193.96 822,700
HeffX-LTN Analysis for FDX: Overall Short Intermediate Long
Bullish (0.39) Bullish (0.34) Bullish (0.29) Very Bullish (0.54)
Symbol Last Trade Date Change Open High Low Volume
NYSE:BABA 103.31 3 March 2017 0.12 102.99 103.42 102.44 6,320,900
HeffX-LTN Analysis for BABA: Overall Short Intermediate Long
Neutral (0.20) Neutral (0.14) Bullish (0.44) Neutral (0.02)
Symbol Last Trade Date Change Open High Low Volume
OTCMKT:WEYL 5.94 3 Marrch 2017 0.64 5.33 5.95 5.15 19,600
HeffX-LTN Analysis for WEYL: Overall Short Intermediate Long
Bullish (0.43) Bullish (0.47) Very Bullish (0.59) Neutral (0.22)

Have a terrific weekend.

 

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