Former Elementary School Teacher Becomes Newest Paper Billionaire in China
The Zhongshan maker’s shares jumped 787% on their Shenzhen debut, lifting Mai Michael and Mai Huixia into paper billionaire status.
- On Tuesday, former elementary school teacher Mai Michael, chairman and CEO of Crown New Materials Technology, and his sister Mai Huixia, vice chairman, became billionaires after company shares surged 787% during their debut on the Shenzhen Stock Exchange.
- Mai transitioned from teaching in 1984 to the materials industry, spending two decades at factories before he and his sister established Crown New Materials Technology in 2000 to manufacture adhesive materials and protective films.
- The company raised around $144 million through the initial public offering, while the Shenzhen Stock Exchange halted trading twice during Tuesday's morning session as shares soared dramatically.
- Following the dramatic rally, Crown New Materials Technology urged investors to be "cautious and rational," while the firm supplies major global companies including BYD, Apple, and Tesla.
- Despite mixed financial results, Shen Meng, managing director of Beijing investment bank Chanson, told Forbes that strong appetite for Chinese IPOs fueled the rally, though net profit fell 7.9% to 225 million yuan.
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Former elementary school teacher becomes newest paper billionaire in China
By Chris Lau, CNN Hong Kong (CNN) — A former elementary school teacher has been propelled into the ranks of paper billionaires in China after the stock debut of his company selling tape and other adhesive products to tech giants, according to Forbes.Michael Mai, chairman and CEO of Crown New Materials Technology, entered the rarefied
Who is Mai Michael? Former elementary school teacher behind Crown New Materials's 787% debut
Crown New Materials Technology, a Zhongshan-based adhesives and tap maker, surges as much as 787% on its first trading day in Shenzhen on November 3, 2026, turning Chairman and CEO Mai Michael and his sister Mai Huixia into paper billionaires....
Former Elementary School Teacher And Sister Become Billionaires After Tape Maker’s Stock Surges 787% In IPO
Crown New Materials Technology, which supplies adhesive materials such as tapes to companies including BYD, Apple and Tesla, rallied as much as 787% during the firm’s first trading day in Shenzhen as local investors chased new listings.
A former Chinese teacher entered the billionaire's top after the company's shares exploded at the start of the Shenzhen Stock Exchange.
A former Chinese teacher has reached the top of the billionaires after the company's shares have grown strongly at the start of the Shenzhen Stock Exchange. Michael Mai, founder and CEO of Crown New Materials Technology, has an estimated fortune of $2.5 billion, according to Forbes.
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