Reported 8 months ago
Chinese titan Longbai Group's founder Xu Gang passed away at 61 due to illness without leaving a will, leaving his '90s daughter Xu Ran as the new controlling shareholder. Meanwhile, his 14-year-old son inherited 1.27 billion shares worth around 25.73 billion RMB. Xu Ran, with a master's degree in business administration, has been preparing to take over the company since joining in 2014, with a total of 6.27 billion voting shares. As the largest titanium dioxide company globally, Longbai Group recorded an operating income of 26.794 billion RMB in 2023. Xu's underage son's rights are being managed by Xu's daughter as his legal guardian until he comes of age in 2028.
Source: YAHOO