Legendary curtain call!

On the evening of July 12, Yangtze River Pharmaceutical Group issued the "Notice on the Establishment of Comrade Xu Jingren's Funeral Committee" and the "Obituary", stating that Chairman Xu Jingren had a sudden illness during his work, and the rescue was invalid.
On July 12, 2021 20 Unfortunately, he passed away at the age of 77
.

According to the obituary, Xu Jingren’s mourning hall is located in the Yangtze River Auditorium, and a farewell ceremony for the remains will be held at 8:30 am on July 17
.

According to the company's investigation, the actual controller of Yangzijiang Pharmaceutical is Xu Jingren, who holds more than 50% of the shares
.

Founder of Hundred Billion Empires, King Banlangen.
.
.

Xu Jing, entrepreneur, founder and pioneer of Yangtze River Pharmaceutical Group, served as Party Secretary, Chairman and General Manager of Yangtze River Pharmaceutical Group, and was also a representative of the 10th, 11th, 12th, and 13th National People's Congress
.

From establishing a small factory to growing to a large enterprise with nearly 100 billion capital, Xu Jingren's life history can be said to be extremely legendary
.

       According to his public resume, Xu Jingren was born in Taizhou, Jiangsu in October 1944.
In 1966, after Xu Jingren was discharged from the army, he was assigned to work in a township instrument factory.
Because he was not satisfied with such a dull and boring job, Xu Jingren resigned in 1971.
Seeking another way out, he founded Taixing Pharmaceutical Factory, the predecessor of Yangzijiang Pharmaceutical, a town-run pharmaceutical workshop
.

       Talking about him, everyone knows the title of "Banlangen King"
.

       In the three years after 1990, Xu Jingren temporarily left the Yangtze River Pharmaceutical Factory due to an accident
.

       In 1994, the annual output value of Yangtze River exceeded 300 million yuan, and the profit and tax reached 30 million.
Since 1996, Jiangsu Yangtze River Pharmaceutical Group has ranked first in the pharmaceutical industry in Jiangsu Province in terms of production, sales, and profitability.
Since 1997, with excellent product quality, The market continues to expand, and Jiangsu Yangzijiang Pharmaceutical Group ranks among the top five in the national pharmaceutical industry
.

       Yangtze River’s well-known drugs include Lanqin Oral Liquid, Bailemian Capsules, and Astragalus Extract
.

       Public information shows that Yangzijiang Pharmaceutical's revenue from 2016 to 2018 was 59.
3 billion yuan, 70 billion yuan, and 80 billion yuan
.
In 2020, Yangtze River's revenue has exceeded 100 billion
.

       Under the leadership of Xu Jingren and others, Yangzijiang Pharmaceutical started as a small factory in a town in 1971.
After 50 years of development and growth, it has become a leading company in the pharmaceutical industry in China
.
Currently, Yangtze River has more than 16,000 employees and more than 20 member companies are distributed in Taizhou, Beijing, Shanghai, Nanjing, Guangzhou, Chengdu, Suzhou, Changzhou and other places
.

       At the same time, his personal worth is also rising
.
The "2019 Hurun Report" announced that Xu Jingren won 62 places with a fortune of RMB 43 billion
.
On February 26, 2020, it ranked 311th in the "2020 Shimao Shenzhen-Hong Kong International Center·Hurun Global Rich List" with a fortune of RMB 48 billion
.
He is also worthy of the name Taizhou's richest man
.

       Who will take over Yangtze River Pharmaceutical

       In addition, the future successor of Yangtze River Pharmaceutical has also been attracting attention from the outside world
.
According to media reports, Xu Jingren is an entrepreneur with a strong traditional "family culture".
He is over seventy years old and has not yet announced the second-generation successor of Yangtze River Pharmaceutical
.

       Previously, outsiders speculated that Xu Haoyu, the son of Xu Jingren, would be the first candidate to succeed
.
Xu Haoyu was born in 1972 and has been working in Yangtze River since 1994.
He has served successively as a sales officer, provincial company manager, and director of the First Sales Bureau of Yangtze River Pharmaceutical Group Co.
, Ltd.
; since September 2005, he has served as deputy director of Yangtze River Pharmaceutical Group Co.
, Ltd.
Long
.
The father and son have repeatedly appeared on various rich list, worth about 12 billion yuan in total
.
On May 13, 2021, Xu Jingren/Xu Haoyu ranked 313th in the "2021 New Fortune 500 Rich List" with a fortune of 15 billion yuan
.

       Although as an enterprise with annual sales of nearly 100 billion yuan, Yangtze River Pharmaceutical has not yet been listed.
This is related to Xu Jingren’s own >
.

       But his son, Xu Haoyu, doesn't seem to think so.
He said that future listings and mergers and acquisitions are necessary, but he insists on making medicines in the field he is familiar with
.
He also argued that “a company doing industry is an addition, capitalization is a multiplication, and going public is the only way for a company’s development
.
” This also makes people speculate that the difference between father and son may be the reason why Xu Jingren is unwilling to hand over power.
One
.

       According to the data, Yangzijiang Pharmaceutical has a layout in five major fields: chemical medicine, traditional Chinese medicine (Chinese patent medicine, Chinese medicine decoction pieces), medical equipment, health food, and food
.
As of 2020, the group has 301 products on sale and 314 specifications, covering anesthesia and analgesia, respiratory and anti-allergic, anti-infection, anti-tumor, cardiovascular, and contrast agents
.

       Yangtze River has also been "leading the way" under policies such as volume procurement and consistency evaluation
.
According to the consistency evaluation database of Yaorongyun, up to now, Yangzijiang Pharmaceutical (including its subsidiaries: Jiangsu Pharmaceutical, Shanghai Hainey Pharmaceutical, Guangzhou Hairui Pharmaceutical, etc.
) has passed 95 product regulations (including deemed passing) Consistency evaluation, including 10 first varieties
.
In the fifth batch of national procurements, Yangtze River also actively participated, and finally won 10 varieties into the list of candidates
.

       In 2020, Xu Jingren, chairman of Yangtze River Pharmaceuticals, once publicly stated that the real purpose of mass procurement is not to harvest at a low price, but to develop with high quality
.
In addition to innovative drugs and generic drugs for high-quality development, whether it is innovative drugs or generic drugs, quality is the first
.
Generic drugs should pay attention to process reform, reduce costs and increase efficiency, minimize costs and optimize quality
.
At the same time, we must also pay attention to informatization and intelligence
.

       Under the drastic changes in the domestic pharmaceutical environment, pharmaceutical companies have begun to innovate
.
In order to innovate, Yangtze River has also established a R&D team with a total of more than 1,500 people and a master-doctoral ratio of more than 50%
.
In terms of innovation, the current focus is on the deployment of anti-tumor, nervous system, endocrine, cardiovascular and other product pipelines
.
Yangtze River, which started with Chinese medicine, has also made great efforts to innovate in the field of Chinese medicine
.
In early 2009, the Yangtze River Chinese Medicine Research Institute was established
.
The institute insists on self-research projects and industry-university-research cooperation to go hand in hand, and has established project-based industry-university-research cooperation with more than 30 scientific research institutes and hospitals
.
Xu Jingren also revealed that Yangtze River Pharmaceutical will also invest more than 4 billion yuan in Chinese medicine.
.
.

       After the new successor takes office, I don't know where this huge ship of the hundreds of billions of empires will head
.

       Reference source:

       1.
"Exclusive: The mystery of the 76-year-old Xu Jingren heir to Yangtze River Pharmaceuticals, can Xu Haoyu lead the billionaire giants"

       2.
Official website of Yangtze River Pharmaceutical Group