Early Life
Yuan Zhimin, born in 1961, is a prominent figure in the plastics manufacturing industry in China. He earned a Master of Science degree from the Beijing Institute of Technology.
Rise to Success
Yuan Zhimin's career is built on his founding of Kingfa Science & Technology Co. in 1993. Kingfa, a Shanghai-listed company, is a significant supplier of modified plastics. The company experienced expansion in 2020, during the global pandemic, venturing into the production of medical and protective gloves. Yuan's wife, Xiong Haitao, is a director at Kingfa, and shares in the family's wealth. In 2015, Yuan and his wife were noted as one of China's billionaire couples.
Key Business Strategies
A key strategy for Kingfa, under Yuan Zhimin's leadership, has been globalization. The company established Kingfa Science & Technology (USA) in Michigan to further its global reach. In 2013, Kingfa acquired India's Hydro S&S Industries as an overseas manufacturing base.
Philanthropy
There is no readily available information regarding Yuan Zhimin's specific philanthropic activities or the amounts he has donated.
Controversies
In July 2024, Yuan Zhimin, the controlling shareholder of Kingfa Sci. & Tech. Co., was found guilty of insider trading. He was sentenced to three years in prison with a four-year probation and fined. He was also ordered to return illegal gains.
