Source of Wealth:Consumer Products
Full Name:Hui Lin Chit
Occupation:Deputy Chairman and CEO of Hengan International Group
About Hui Lin Chit
Hengan International co-founder Hui Lin Chit has an estimated net worth of $2.9 billion as of May 2015 according to Forbes. He is also the 36th richest person in China and is ranked 589th in the list of World Billionaires.
Hui Lin Chit earned his estimated net worth of $2.5 billion as the Deputy Chairman and Chief Executive Officer of the Hengan International Group. Along with fellow billionaire Sze Man Bok who owns around 18% share and the Chairman of the Group, he co-founded the company in 1985. He is responsible for strategic planning, human resources and the overall management of one of the largest makers of tissue paper, sanitary napkins and disposable diapers in China. With his more than 20 years of experience in trading, business management, and development, he has been in the garment processing and exporting business. He also has managed a local transportation company.
As one of the founding shareholders of the company, Hui Lin Chit is also a member of the Nomination Committee and Remuneration Committee. He holds the title of senior economist in the People’s Republic of China and also a deputy chairman of All-China General Chamber of Industry and Commerce as well as Political Consultative Conference in Quanzhou City. He is also the Chairman of Quanzhou City Trade Association.
In the late of 2012, the Hong Kong traded shares of Hengan International were up by 18% which came from a sales bump of 10% to $1.4 billion in the first half of the year. Its profits have increased by 38% to $206 million after giving a focus on the sales of the more profitable items. During the second half of 2012, the sales of its top selling product, tissue paper, are expected to rise due to the expansion of a production plant in Chongqing.
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