3.55 billion Minsheng business billionaire Huang Tao is interested in the vaccine leader, WuSen Bio.

Ask AI · From real estate to diversified investments, what unique strategy does Huang Tao use to expand his capital?

**Radar Finance Original Text by Zhou Hui Editor by Shenhai

A wealthy Min merchant, Huang Tao, worth 35.5 billion yuan, may be set to secure his third listed company.

On the evening of March 18, biotech giant Watson Biotech disclosed a private placement plan, announcing it intends to issue no more than 208 million A-shares of ordinary stock to specific parties, including Beijing Tengyun Xinwo Biotechnology Partnership (Limited Partnership) (hereinafter referred to as “Tengyun Xinwo”), at an issue price of 9.63 yuan per share, with a subscription amount of no more than 2.003 billion yuan.

At the same time, Watson Biotech noted that upon completion of this issuance, assuming no other factors lead to changes in the number of shares, Tengyun Xinwo will directly hold 11.51% of the company’s shares. The shareholding ratio of Tengyun Xinwo and its persons acting in concert will reach 14.46% of the total share capital after the issuance. The company’s controlling shareholder will change to Tengyun Xinwo, and the actual controller will change to Huang Tao.

This means that after 16 years as a listed company, Watson Technology, with a market value of 20 billion yuan, will end the previous situation of dispersed equity and will usher in its first actual controller.

Public information shows that Huang Tao was born in 1976 and is the son of the well-known Min merchant Huang Rulun. In 1986, Huang Rulun went alone to the Philippines to seek fortune. In 1991, he returned to Fuzhou and founded the predecessor of Century Jinyuan Group—Jinyuan Real Estate Co., Ltd. After that, Huang Rulun also gradually invested and布局 in many industries such as finance, tourism, commerce, aviation, petrochemicals, and new energy, and at one point became Fujian’s richest person.

In 2018, Huang Rulun handed over the reins to Huang Tao, stepped back behind the scenes, and Huang Tao officially became the new helmsman of Century Jinyuan. Notably, it was also in that year that Huang Tao began making frequent moves in the capital market.

In December 2018, Huang Tao participated in Anhui Tong Technology’s private placement through Xizang Jinyuan, receiving 13.9052 million shares of the company. By the end of that year, the number of shares held by Xizang Jinyuan reached 19.9966 million shares, accounting for 4.85%. Starting in March 2020, Xizang once again began increasing its holdings of Anhui Tong Technology shares. As of February 28, 2022, its shareholding reached 81.9277 million shares, accounting for 19.97% of the total share capital, making it the controlling shareholder of Anhui Tong Technology, and Huang Tao also officially obtained his first listed company.

It is worth noting that on the evening of March 18, Anhui Tong Technology disclosed its 2025 stock issuance plan to specific parties (revised draft). It plans to issue shares to Xizang Tengyun and Jinyuan Huizhi in a targeted manner, raising no more than 600 million yuan for replenishing the company’s working capital. After the issuance is completed, Huang Tao, the actual controller, will have his shares with voting rights increased to 174 million shares, accounting for 33.93% of the company’s equity.

After taking control of Anhui Tong Technology, Huang Tao did not stop there. In May last year, Huang Tao established Shenzhen Xinchuangyuan Investment Partnership (Limited Partnership) (hereinafter referred to as “Xinchuangyuan”). The following month, Xinchuangyuan signed a “Share Transfer Agreement” and a “Voting Rights Waiver Agreement” with Annai’er’s controlling shareholder and actual controller Cao Zhang, and with Wang Jianqing, the “first clothing brand for children” listed company Annai’er.

According to the agreement, Xinchuangyuan will spend approximately 422 million yuan to obtain Annai’er’s controlling stake. After the equity change, Xinchuangyuan will become Annai’er’s controlling shareholder, holding 27.7644 million shares, accounting for 13.03% of the total share capital. Huang Tao, in turn, will gain his second listed company.

With this successful move into Watson Biotech, Huang Tao will now have a third listed company. As of the market close on March 20, Anhui Tong Technology, Annai’er, and Watson Biotech closed at 8.19 yuan per share, 19.17 yuan per share, and 12.51 yuan per share, respectively; their market values were 3.509 billion yuan, 4.084 billion yuan, and 20.01 billion yuan, respectively.

Public information shows that, in addition to directly controlling listed companies, Huang Tao also holds 6.29% of the shares of Tutor Finder, 10.84% of the shares of Xinming Life Science, 12.53% of the shares of First Service Holding, and 9.11% of the shares of China Finance International.

In addition, according to information from Tianyancha, up to now Huang Tao holds positions in 34 ongoing enterprises, including Century Jinyuan Investment Group Co., Ltd., Jiujiang Zhicheng Zhuoxin Investment Center (Limited Partnership), Qushui Juyong Commercial Management Co., Ltd., and Huayi Brothers (Tianjin) Real Scene Entertainment Co., Ltd.

Years of doing business have also allowed Huang Tao’s family to accumulate substantial wealth. In its prior release of the “2026 Hurun Global Rich List,” the Hurun Research Institute shows that Huang Rulun and the Huang Tao family rank No. 871 with wealth of 35.5 billion yuan; however, compared with the 36.0 billion yuan wealth on the same list in 2025, their net worth decreased by 500 million yuan.