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Security Software Entrepreneur Joins China's Billionaire Ranks

This article is more than 8 years old.

Lin Hao, chairman of Beijing VRV Software, has joined the ranks of the world’s billionaires following record gains in the share price of the Shenzhen-listed security software company.

Lin owns 49% of VRV, a stake worth more than $1 billion at yesterday’s closing price of 51.8 yuan after discounting for collateralized shares.

VRV’s customers come from national defense bodies, finance companies, police and education.  Revenue and net profit in 2014 was 263 million yuan and 68 million yuan, or $42 million and $11 million, up 15% and 0.3%. VRV’s price-earnings ratio is likely in the triple digits.

Lin graduated from Hangzhou Dianzi University in 1988, and worked for an institute in Nanjing owned by China’s electronics ministry.  He later worked for an automation technology company there. Lin began studying anti-virus technology in 1991, and has served as a technical consultant to China’s central government on information security. Lin founded the predecessor of VRV in 1996.

--with Maggie Chen

--Follow me on Twitter @rflannerychina