Mr. Zhang Bo holds the position of CEO, Executive Director and Chairman of China Hongqiao Group Ltd. He was born in Shandong, China on 1st January 1970. He has two sisters. He’s single as of 7th January 2022.
The majority of the Zhang’s fortune is derived from a majority stake in China Hongqiao Group, the world’s largest private aluminum producer, according to its website.
Zhang is the chairman of China Hongqiao and owns about 64% of the company through a family trust, according to its 2022 annual report.
The family also controls Weiqiao Textile, a Chinese cotton-textiles manufacturer. Zhang Hongxia, Bo’s sister, is the chairman of Weiqiao Textile and owns about 1.5% of the company directly, according to the its 2022 annual report. Shares held by the parent company are excluded to avoid double counting.
They hold a 51% stake in closely-held parent Shandong Weiqiao Pioneering Group, a textile maker with revenue of 504 billion yuan ($74.8 billion) in 2022, based on a March 6, 2023 company announcement. The valuation is based on the average price-to-earnings multiple of four publicly traded peers: Weiqiao Textile Co, Lu Thai Textile Co Ltd, Bros Eastern Co Ltd and Huafu Fashion Co Ltd.
Zhang Bo & family is credited with the fortune following the death of family patriarch Zhang Shiping in 2019.
Cash holdings are valued based on an analysis of dividends, insider transactions, market performance and taxes.
Christine Wong, a spokesman for China Hongqiao, declined to comment on Zhang’s net worth.
Biography
Education: Wuhan University, Shandong TV & Broadcast University
Born in 1970 in Shandong, China, Zhang Bo is the son of Zhang Shiping, the late founder of China Hongqiao Group, an aluminum products maker in China.
Bo studied at Shandong Broadcast and Television University majoring in financial accounting and obtained a bachelor’s degree in economics in 1996. He later obtained a master’s degree in software engineering from Wuhan University in 2005, according to a company filing.
He has held various roles at Hongqiao’s subsidiaries since 2006 and became an executive director and chief executive officer of China Hongqiao in 2011.
Bo was appointed chairman of the group in May 2019.
Philanthropy
Siping Charity Foundation was established in November 2020 in memory of his father, Mr. Zhang Siping. Though Mr. Zhang Bo has been giving back to society since 2017, he decided to streamline all the charitable work via this foundation. “Serving country and its people” was his father’s words instilled since young. Hence, giving back to society comes naturally for him.
Siping Charity Foundation’s main focus is to provide quality education to the underprivileged. Education will equip a society with a range of knowledge and tools to improve themselves. As a Chinese saying goes, “Give a man a fish, you feed him for a day. Teach a man to fish and you feed him for a lifetime.”
Outside companies or even individuals who wants to make a difference, can make contribution towards the foundation.
ESG – Environment, Social and Governance initiatives
Mr. Zhang Bo is part of an industry that is notorious for pollution. His goal is to reduce the company’s carbon footprint by tapping into clean energy and recycling aluminum. Using hydro powered electricity is much cleaner than coal. Whereas recycled aluminum reduces the need to mine bauxite extensively.
He’s promoting aluminum recycling by teaming up with Scholz, a reputable German recycling company. The goal of the collaboration is to create a continuous supply of aluminum for the company’s manufacturing facilities at reduced environmental cost.
Studies have shown that on average, companies can save 95% of energy (21,000 kilowatt hours) by using recycled aluminum to manufacture beverage cans instead of using bauxite ore (save on mining, transportation and refining). Mother nature is the beneficiary of this transition. Less area will be mined and exploited in future to meet rising demand.
Milestones
- 1996 Graduated from Shandong Boadcast and Television University.
- 2002 Weiqiao Textile started trading in Hong Kong.
- 2011 China Hongqiao started publicly trading in Hong Kong.
- 2019 Zhang Shiping, Zhang Bo’s father and patriarch of the family, died at 73.
