Rags-to-riches tales in Hong Kong
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E-mail China.org.cn, July 4, 2012
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D.H. Chen
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D.H. Chen is the founder of Nan Fung Group. [File Photo] |
After Chen was diagnosed with Alzheimer's disease, the control rights of his Nan Fung Group went to his daughter Vivien. Chen died in Jun. 2012. With an expansion into the Chinese mainland market, the company operates prime office building projects in Shanghai, with its mainland assets accounting for 20 percent of the Group's net assets.. It is also the second largest shareholder of Sino Group.
D.H. Chen, the founder of Nan Fung Group, was born in 1923 in Ningbo of east China's Zhejiang Province. Chen's wealth originated from his textile business. He went to Hong Kong from Shanghai in 1949 and set up Nan Fung Textile in 1954. Nan Fung Textile was listed in 1970. As its enterprise had led in the textile industry for over one decade, Chen was titled the "King of Textile." In 1976, he began his investment in real estate and equity, which led him into the upper echelon of entrepreneurs. In 1997, Nan Fung Group bought over 12 percent of Sino Group's stock rights.
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