18 billion dollars decreased from the wealth of Chinese billionaires
reportedMehr News Agency, according to the Bloomberg Billionaires Index, the richest person in China, the founder of Nong Fu Spring, Zhong Shanshan, about 4 billion dollars of their wealth gave a hand; Because the shares of this Chinese mineral water and beverage producer dropped by 12.9% on Wednesday in Hong Kong, leaving him with a total of 45.5 billion dollars.
Meanwhile, the wealth of Colin Huang, the founder of Holding PDD also decreased by $14.1 billion on Monday; Because after the company’s warning about the continuous decline in revenue growth, the company’s stock recorded the biggest decline in its history.
The pullback was Huang‘s biggest one-day loss in history and took him down after briefly earlier this month. The first place of the Chinese rich people was retained, falling to the fourth place in the Bloomberg ranking. The decline continued on Tuesday, as shares in owner Temu, a subsidiary of PDD, fell 4.1 percent, taking another $1.4 billion off Huang’s wealth. > left Currently our pony, the founder of Holding Tencent has the second place in Bloomberg’s rich tracker.
The successive decline in the wealth of these rich people indicates the long-term weakening of consumer confidence in China; An economy where many of the world’s biggest businesses are facing declining demand. Competition for buyers who have become increasingly frugal has caused a sharp drop in prices and a sharp decrease in profits for many products.
Chinese economists believe that consumer companies like Nong Fu And PDD not working well means China’s economy is probably worse than people think; Because these companies operate in areas where the demand is supposed to be flexible.
Both companies have struggled with a series of public relations challenges this year. Nong Fu was accused by public opinion of unhealthy competition with another company and PDD last month Hundreds of businessmen protested outside the company’s offices in southern China, protesting the punishment. There is also growing scrutiny of e-commerce giant Temu, and the European Union is considering a proposal to close an import tax loophole for cheap goods bought online.
Income Nong Fu from water products Packaged beverages have decreased by 18% in the first half of this year, and the ratio of the total income of this sector has reached 39% from about 48% last year. This decline was attributed to negative public opinion towards the company and Zhong since late February.
