Yeung is chairman of Biel Crystal Manufactory, a closely held supplier of mobile phone touch screens. The Hong Kong-based company makes phone and watch covers for Apple, Samsung and other device makers. It has more than 80,000 employees and reported revenue of HK$29.9 billion ($3.8 billion) in the year to March 31, 2021.
Yeung Kin-Man's net worth of $6.18B can buy ...
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The majority of Yeung's fortune is derived from his control of Biel Crystal Manufactory, a supplier of glass touch screens for smartphone makers such as Apple, Samsung and LG. It has more than 74,800 employees, according to its prospectus for initial public offering in January 2022.
He owns Biel through a trust with his wife Lam Wai Ying, according to the prospectus. The family fortune is credited to Yeung to reflect his status as Biel’s founder and chief executive officer.
Biel Crystal had revenue of HK$29.9 billion ($3.8 billion) in the year to March 31, 2021, according to the prospectus. The company is valued using the revenue and the enterprise-value-to-sales and price-to-earnings multiples of four publicly traded peers: Zhejiang Firstar Panel Technology, Holitech Technology, Ofilm Group Co. and Wuhu Token Science Co.
The valuation was updated on Aug. 2, 2021, to reflect the latest financials disclosed in the prospectus. It led to a $3.1 billion increase in the net worth calculation.
Biel Crystal did not respond to requests for comment on Yeung's net worth.
Yeung Kin-Man was born and raised in Hong Kong. He didn't obtain a university degree before starting his first company, a watch glass maker, in the 1980s.
His company, Biel Crystal, began producing smartphone cover glass in 2003 after receiving its first order for 1 million screens from Motorola. Biel Crystal became a cover-glass supplier to Apple in 2007 when the company introduced the iPhone.
By 2021, it had more than 2 million square meters of production space at its China manufacturing facilities, and employed more than 120,000 workers.