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