Hengli Hydraulic's leader Wang Liping is placed under detention, ranking as "Changzhou's richest person" for the year | Quick Read Announcement

Sourced from: Caixin Media

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Caixin Media March 20 (Reporter Wu Chao) The actual controller and chairman of hydropower equipment leader Hengli Hydraulic (601100.SH), Wang Liping, received a “Filing Notice” and a “Detention Notice” issued by the Jiangsu Provincial Supervisory Commission, and he has been placed under detention, drawing widespread market attention. The company is known as the “hydraulic Maotai.” As of the close on March 20, Hengli Hydraulic’s share price was 99.67 yuan per share, with a total market value of approximately 133.6 billion yuan.

The company released an evening announcement today stating that it recently received a notice from Wang Liping’s family that Wang Liping has been filed by the Jiangsu Provincial Supervisory Commission and has been placed under detention. The company said it has made appropriate arrangements for the relevant work, and that its other directors and senior management personnel are all performing their duties normally, with normal production and operations.

As the founder and key figure of Hengli Hydraulic, Wang Liping’s personal fate is closely tied to the company’s development, and his sudden placement under detention casts a shadow over this trillion-yuan-level enterprise.

Public information shows that Wang Liping was born in 1966. After graduating from junior high school, he entered a township pneumatic equipment factory as a technician. Starting in the 1990s, he became involved in the field of hydraulic cylinders. Beginning with a small pneumatic component factory, he gradually tackled core technologies such as high-pressure hydraulic cylinders, hydraulic pumps, and hydraulic valves. In 2005, he officially established Jiangsu Hengli Hydraulic Co., Ltd. In 2011, Hengli Hydraulic listed on the Shanghai Stock Exchange. With the help of the capital market, the company rapidly grew into an absolute leader in China’s hydraulic components sector. Its products are widely used in multiple key areas such as excavators, tunnel engineering, agricultural machinery, and wind power and solar photovoltaic.

As Hengli Hydraulic’s market value has risen, so has the wealth of the Wang Liping family. In the “2026 Hurun Rich List,” the Wang Liping family ranked 194th globally with assets of 105 billion yuan, and it retained the title of “Top Richest Person in Changzhou, Jiangsu.” In the earlier “2025 Hurun Rich List,” the family’s wealth was 86 billion yuan, ranking 237th.

In terms of the equity structure, Wang Liping, together with his wife, Qian Peixin, and his son, Wang Qi, form the family of the company’s actual controller, holding shares of the listed company indirectly through platforms such as Changzhou Hengyi Intelligent Equipment Co., Ltd. and Ningbo Hengyi Investment Co., Ltd.

From a financial data perspective, before the event occurred, Hengli Hydraulic’s fundamentals were relatively steady. According to the latest data, in the first three quarters of 2025, the company achieved operating revenue of 7.79 billion yuan, up 12.31% year over year; attributable net profit to shareholders was 2.087 billion yuan, up 16.49% year over year; and non-recurring items adjusted attributable net profit was 2.009 billion yuan, up 15.78% year over year.

This is the second time in recent days that the actual controller of a listed company in Changzhou’s machinery and equipment sector has been placed under detention. On January 18, Tianyuan Intelligent (603273.SH), also located in Changzhou, issued an announcement stating that its actual controller and chairman, Wu Yizhong, had been placed under detention by the Jiangsu Provincial Supervisory Commission and was subject to an investigation.

In addition, in the machinery and equipment sector, Speedy Shares (001277.SZ) disclosed on March 17, 2026 that its actual controller and chairman, Mr. Li Xiyuan, had been placed under detention by the Supervisory Commission of Bengshan District, Bengbu City. On March 20, the company received a notice that the Supervisory Commission of Bengshan District, Bengbu City had解除 the detention measures against Mr. Li Xiyuan.

(Caixin Media reporter Wu Chao)

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