Kang Baohua, the China Elevator Entrepreneur is the New Billionaire to Enlist his Name in the Global Billionaire Club

Published By : 30 Mar 2015 | Published By : QYRESEARCH

The news of Kang Baohua, the reigning chairman of industry leading elevator company in China, Shenyang Brilliant Elevator, is the recent eminent personality to join the ranks as one of the world’s most prominent billionaires. The new of Kang Baohua’s name to be the newest in the global billionaire club came after gains were reflected in the elevator maker’s Shenzhen traded share prices. 

The company recorded remarkable revenue towards the end of 2014. As per reports, the revenue registered by the company last year stood at 2 billion yuan, or $ 315 million. This accounted for a 13% jump compared to what the company had registered in the year 2013. Shenyang Brilliant Elevator already announced its plans in January of acquiring a hundred per cent stake in its parent group for the robot technology business and the unlisted sewerage treatment wing. The acquisition is slated to amount a whopping 287.6 million yuan, or $46 million. However, it is important to note here, the transaction has not been completed yet, nevertheless the company’s shares have already doubled itself in the past year. 

Kang Baohua enjoyed stakes both in Shenyang Brilliant Elevator as well as in Yuanda China, which is a well known construction materials supply company. The stake enjoyed by Kang Baohua in both these companies summed up to a total of 6.5 billion yuan or $1.05 billion. This was reported in the closing prices of the last Friday. 

Kang has a graduate degree in politics from Liaoning University. He graduated in the year 1984, and later he went on to lay the founding stones of the very famous and Hong Kong listed company Yuanda China in 1992. This company deals with curtain wall manufacturing.
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