Jinlaite's 43-year-old chairman passes away suddenly; net worth exceeded 3.1 billion yuan before his death

　　On November 12, after one day of trading suspension, Jinlaite, whose main business is lighting and electric fans, announced upon the resumption of trading that the company received notification on the 11th from the family of Tian Chou, the company's chairman and general manager, that Tian Chou unfortunately passed away on the evening of November 10 due to the failure of emergency rescue treatment for an illness. At that time, Tian Chou was only 43 years old, and due to consecutive rises in the stock price, his net worth reached 3.1 billion yuan.

　　According to Jinlaite's Q3 report this year, Tian Chou held 107.643 million shares of the company, representing a stake of 57.66%. Calculated at the pre-suspension share price of 29.56 yuan per share, Tian Chou's net worth during his lifetime exceeded 3.1 billion yuan.

　　In the previously disclosed Hurun Rich List, Tian Chou and his wife Jiang Xiaorong appeared for the first time, ranking 1561st on the rich list with a fortune of 2.4 billion yuan.

Notably, Jinlite is a typical family-run enterprise. Its third-quarter report shows that Tian Chou's wife Jiang Xiaorong holds 6 million shares, making her the third largest shareholder, and together their combined holdings account for over 60% of the company's total shares.

In addition, the second largest shareholder is Jiang Guangyong, holding 6.43%. Jiang Guangyong is Jiang Xiaorong's brother.

According to Jinlite's announcement, after Tian Chou's death, Jiang Xiaorong assumed the duties of General Manager as another actual controller of the company.

Yesterday, Jinlite's stock price ended its four-day winning streak, closing down 2.64% at 28.78 yuan per share.

　　【Tian Chou's Resume】

　　●Born in 1972, Master's degree;

　　●From September 1993 to February 1995, served as a teacher at Xingshan No.1 Middle School, Hubei Province;

　　●From March 1995 to December 1999, served as Business Manager at Hong Kong Jinshan Industrial Group;

　　●In October 2000, founded Jiangmen Jinlaite Electrical Lighting Factory Co., Ltd. and served as General Manager;

●From November 2007 to present, served as Chairman and General Manager of Jinlaite;

●Passed away on the evening of November 10, 2015, after failed emergency treatment due to illness.

　　The 2014 annual report shows that Tian Chou was born in 1972. From September 1993 to February 1995, in his early twenties, he served as a teacher at Xingshan No. 1 Middle School in Hubei Province. But soon, the fate of this young man took a turn.

　　According to an article in the Jiangmen Daily from July 2008, in 1995, Tian Chou came to Shenzhen and worked at a foreign trade enterprise, accumulating some savings as a result.

　　The 2014 annual report states that from 1995 to 1999, Tian Chou served as Business Manager of Hong Kong Jinshan Industrial Group. The stage of Tian Chou's initial capital accumulation likely occurred during his tenure at this company.

　　In 2000, Tian Chou and his wife Jiang Xiaorong founded Jiangmen Jinlaite Electric Lighting Factory Co., Ltd., thereby entering the lighting industry.

　　That year's export volume reached 70 million yuan, and the company experienced vigorous development. When IPOs resumed in early 2014, Jinlaite became one of the first batch of companies to go public, listing on the SME Board of the Shenzhen Stock Exchange.

　　"Whatever the market needs, we develop and produce it, and we must also learn to create business opportunities," Tian Chou told the Jiangmen Daily. "Only the sheep that run at the very front get to eat grass."

According to a local lighting factory manager, since China joined the WTO, the Pearl River Delta's lighting industry, which was already popular domestically, quickly went abroad, and Kinlight's success has also benefited from this major trend.

Kinlight's third-quarter report this year shows that the company's fundamentals are sound. Its operating revenue reached 647 million, a substantial increase of 46.05%; net profit was 35.8162 million, up 9.15%.

In addition, Tian Chou's business success earned him local prestige in Jiangmen. He has been successively named one of the first "Love in Jiangmen" Top 10 Entrepreneurs, a "Guangdong Province Model Worker," Vice President of the Pengjiang District General Chamber of Commerce in Jiangmen, and President of the Jiangmen Securities Industry and Listed Companies Association.