2004 China Rich List
Chen Xiao - 2004 China Rich List:No.66
| 2004 wealth (US m): |
180 |
| 2003 wealth (US m): |
- |
| age: | 46 |
| birthplace: | Shanghai |
| company: | Yongle Home Electronics Appliance |
| head office: | Shanghai |
| industry: | Household electronic appliance retail |
| listing: | None |
| personal info: | Currently reported to be in talks with Morgan Stanley to sell it 10% of the business in preparation for an overseas listing, Yongle last year enjoyed strong growth on the back of a deal with China Unicom to sell CDMA mobile phone contracts. With sales last year of US$1.2 billion (2002: US$590 million), Yongle has 5,000 employees. Starting out in 1996 with the purchase of a state-owned Shanghai retail brand, Chen has expanded Yongle to 98 outlets today and has 50% of the Shanghai market. |
| other list rank: |
