Jiang Rensheng, one of the Chinese pharmaceutical leaders

01 June 2021

Born in 1953, Jiang spent his childhood in a remote village in the mountainous region of Guangxi.

After graduating from high school during the tumultuous period of the Cultural Revolution, he taught for seven years in a primary school and worked in the fields to support himself. He waited seven years (1977) until the Gakao (the annual college entrance exam) was restaured before finally graduating from Guilin Medical University. Jiang began his career at the Guanyang County Epidemic Health and Forecasting Center. He was quickly promoted before being posted to Nanning, the provincial capital. He became Deputy Head of the Vaccination Unit and Head of the Biology Department. It was only at the age of 46 that he moved to Chengdu and tried his luck in the private sector by joining a vaccine company

He discovered himself as an entrepreneur by taking over a vaccine developer in Chongqing.

This is the start of Zhifei Biological Product. The entrepreneur signs his first success here by being the sole distributor in China of the meningitis C vaccine. The entrepreneur continues his ascent by winning a contract with the American giant Merck for the distribution in China of the vaccine against the papillomavirus. Subsequently, Jiang diversified its activity with the R&D, production, marketing, distribution, import and export of biotech products and services. The company went public in 2010 in Shenzhen and became the 1st private vaccine company listed on ChiNext. Zhifei has 5 subsidiaries. Two of them are only devoted to biotechnology. Zhifei is primarily engaged in the production of vaccines for human use, including clinical trials for the development of a COVID 19 vaccine. The news caused the company’s shares to surge and put Jiang Rensheng in the top 10 Chinese fortunes in 2020.

The company has two R&D bases, an R&D center and is involved in 28 ongoing projects.

The company has a real competitive advantage by also managing the marketing of its products. It has its own cold chain system allowing its products to be transported safely across the country. The company has made a significant contribution to improving health in China by upholding a philosophy that « social benefits go before corporate profits ».

Like the Chinese giants, the company produced another billionaire Wu Guanjiang,

, a former director with a 2% stake in the company. A great success for this leader who in the beginning did not own a car and lived on the premises of the company to reimburse the manufacturers. These sacrifices have earned him a serious reputation in the industry. Some manufacturers are no longer asking for down payments and are extending the time frame for the company’s accounts payable, because of this good reputation.

Jiang, through his company has developed more than 10 vaccines against various diseases in the market.

He also decided to donate RMB 10 million to Hubei province for pandemic control. The company makes regular donations to various associations, rural schools and university library libraries. Jiang lives in Chongqing, China with his wife and their child. He owns 20.5% of Zhifei.

KEY FIGURES ELECTRIC VEHICULES

  • Headquarter in Chongqing, China
  • 3 300 employees
  • Revenue 2020 : $2.3Bn
  • Market capitalization : $44Bn
  • 5 subsidiaries

ELECTRIC VEHICULES MARKET

  • Vaccine production: 1 of the 7 strategic emerging industries in China
  • 3 COVID 19 vaccines: Sinovac, Sinopharm and CoronoVac Growing market
  • Competitors: Sinopharm, Jiangsu Hengrui, Yangzijiang

At 67, Jiang Rensheng is the founder and Chairman of Chongqing Zhifei Biological Products, Chinese pharmaceutical firm. The businessman is ranked 69th on the World Rich List with $25Bn. (source: Forbes, June 2021)

Cookies