On the evening of April 7, Shanghai Electric Co., Ltd. announced that Wu Ligan, the company’s founder and former chairman, passed away on April 4, 2024, at the age of 83.
50 billion A-share original chairman passed away
A-share listed company Shanghai Electric Co., Ltd. announced that the company’s founder and former chairman Wu Ligan passed away on April 4, 2024, at the age of 83. Shanghai Electric Co., Ltd. said that Wu Ligan's death will not lead to substantial changes in the company's actual controller.
Shanghai Electronics Co., Ltd. stated in its obituary that Mr. Wu Ligan founded the company's predecessor, Kunshan Hushi Electronics Co., Ltd., in 1992. He upheld the business philosophy of "growth, evergreen, and mutual benefit", worked diligently, upheld integrity, and innovated, leading the company to long-term sustainable and healthy development. . The company's directors, supervisors, senior managers and all employees pay the highest respect to Mr. Wu Ligan for his hard work and outstanding contributions, and express deep condolences and deep remembrance of Mr. Wu Ligan's passing. The official website of
shows that Shanghai Electric Co., Ltd. is a company engaged in the semiconductor industry. It was established in Kunshan City, Jiangsu Province in 1992 and was listed on the Small and Medium-sized Enterprise Board of the Shenzhen Stock Exchange in 2010. As of the latest closing price, it was trading at 29.62 yuan per share, with a market value of 56.6 billion yuan.
Less than 10 days after his resignation
On the evening of March 28, Shanghai Electric Co., Ltd. announced that Wu Ligan had resigned as chairman of the company. The announcement stated that the board of directors received the resignation of Chairman Wu Ligan on March 28, 2024. Due to his old age, Mr. Wu Ligan resigned from the company's chairman, director and special committees under the board of directors.
A legend in the printed circuit board industry
According to public reports, Wu Ligan is a legend in the printed circuit board industry. Back then, despite his family background as a "cotton king", he resolutely set up a PCB factory, which was unique at the time. After that, he withstood the pressure and came to Kunshan City to build a factory and established Hushi Electronics Co., Ltd.
In February 2020, the Wu Ligan family ranked 2,000th in the "2020 Hurun Global Rich List" with a wealth of 10 billion yuan.
In October 2021, the Wu Ligan family ranked 1,123rd on the "2021 Hurun Rich List" with a wealth of 6.5 billion yuan.
In November 2022, the Wu Ligan family ranked 1,127th on the "2022 Hurun Rich List" with a wealth of 5.5 billion yuan.
Since 1997, the company has been awarded the title of "Double Excellent Enterprise" by the Ministry of Foreign Trade and Economic Cooperation for six consecutive years. The financial report shows that Hudian Electric Co., Ltd. achieved operating income of 8.938 billion yuan in 2023, a year-on-year increase of 7.23%; net profit attributable to the parent company was 1.513 billion yuan, a year-on-year increase of 11.09%. In the fourth quarter of 2023, revenue was 2.856 billion yuan, a month-on-month increase of 23.15%; net profit attributable to the parent company was 559 million yuan, a month-on-month increase of 21.50%.
(according to Hongguan News)
