Meitu CEO becomes firm's second billionaire as stock surges

Singapore

Wu Xinhong, co-founder and chief executive officer of Meitu Inc, became the second billionaire at the Chinese beauty-enhancing selfie app developer after the stock posted its longest winning streak since its December debut.

The shares extended gains since it was added to a second equity-trading link between China's Shenzhen exchange and Hong Kong on March 6, and added 5.6 per cent to HK$15.02 as at 10.03 am in Hong Kong trading, set to advance for a 10th day. That extended the 11 per cent jump to a record at Tuesday's close, giving Mr Wu a net worth of US$1.1 billion, according to the Bloomberg Billionaires Index.