A new billionaire has emerged in China despite the country's strict healthcare protocols.
As of Thursday, the winner's net worth was $5.1 billion, and he was the founder of the company. The company is owned by him via private entities.
On the first day of trade on China's tech focused STAR market, the company's shares surged as much as 75%. The listing was over-subscribed by more than 3000 times. It was the third- largest offering in China.
China is still on high alert over the coronaviruses more than two years after the first one. The guidelines include a list of essential equipment hospitals should have. Demand for X-ray equipment will be boosted by it.
Amid China's economic uncertainties, the company is seen as a safe bet.
The company's prospects have been given a positive assessment by Chinese brokerages. The company is leading its sector and could be included in major indices in the future according to an analyst.
He was born in the province of Hubei and founded the predecessor to the company in 2011.
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