Forbes magazine in the US has announced its list of billionaires for 2022. Li Xiting, co-founder and chairman of Shenzhen-based Myriad Medical, has become Singapore's richest man with US$17.6 billion, equivalent to about S$23.9 billion, making him Singapore's Li Ka-shing. His ability to trump Haijilao's Zhang Yong and his wife's rise to the top of Singapore's richest man last year was thanks to the crazy epidemic, and his company's main business is fighting the new crown of medical supplies, which are not big sellers.
Li Xiting founded Myriad Medical is also known as ? The medical industry's Huawei? Li Xiting, who has just passed the age of old, staged a business legend from a farmer in Anhui Province to the richest man in Singapore. 1951, Li Xiting was born in Dangshan County, Anhui Province, Li Tun Village, an ordinary farming family. He grew up love of reading, excellent grades, the development of the examination of a key university is proper, but unfortunately caught up with the Cultural Revolution, the university closed down. 18-year-old Li Xiting can only be conscripted into the army, in the mountains and forests as an engineer for 4 years. 1973, always hard to read the Li Xiting to excel in the University of Science and Technology of China Department of Physics, Low Temperature Physics Group, graduated from the University of China is assigned to work in Wuhan Chinese Academy of Sciences, Institute of Physics. Reading really made him change his life against all odds.
In 1985, Li Xiting, who came back from further study abroad, was assigned to Shenzhen? Anke? s company as an office director. This? After experiencing overseas companies selling medical equipment at high prices and domestic hospitals being unable to compete, Li Xiting decided to go into business. Finding a huge gap in China's medical equipment, Li Xiting set up Myriad Medical in 1991 with six other colleagues and began to go it alone, catching the dividends of the era of reform and opening up. The company soon developed China's first ? Multi-parameter oximetry monitor? The company soon developed China's first multi-parameter oximetry monitor, and got its first investment from Wall Street. The monitor is the most mature product among the three major product lines of Myriad Healthcare, and after continuous technical improvement, it has realized the leap from low-end to medium- and high-end models, and its market share ranks first in China.
The substantial improvement in independent research and development capabilities has made Myriad Medical famous, and when the world's new crown epidemic was in full swing, with strong demand for ventilators, monitors and other equipment, Myriad Medical was able to? breathe heavily? , and ushered in its own explosive period. Foreign medical device manufacturers could not keep up with production, and all gradually agreed to cooperate, becoming the biggest key to asset growth. The most fierce time, the market value of its company rose an average of more than 800 million per day. Although Li Xiting has long been a Singaporean citizen, his career has always been in China, and Myriad is a purely Chinese private company. Myriad had become the first U.S.-listed Chinese medical device company, and listing in the U.S. is the fastest and most efficient way to build trust with international customers. After completing privatization, Myriad was decisively delisted from the U.S., and then returned to the A-share market.