Firm offers big reward for finding ex-richest man of Shanxi

Zhu Yuting
Meijin Energy Group is offering a reward of up to 21 million yuan (US$3.26 million) to obtain clues about hidden property of Li Zhaohui, the former richest man of Shanxi Province.
Zhu Yuting

The Shanghai No.1 Intermediate People's Court said on Wednesday that Shanxi Province-based company, Meijin Energy Group, is offering a reward of up to 21 million yuan (US$3.26 million) to people who provide clues about the hidden property of Li Zhaohui, the former richest man of the province.

Li, 40, once China's youngest billionaire, used to be the chairman of the Shanxi Haixin Iron and Steel Group.

Meijing Energy Group and another Shanghai-based company, Haiboxinhui, were entangled in a 216-million yuan financial dispute in 2013.

Li bore a quarter of the joint liability for the unpaid part of the above payment obligations, the court announced in the ruling on the dispute regarding Meijin Energy Group's right to seek compensation from Haiboxinhui and Li.

Meijin Energy Group promised a reward of 100,000 yuan to people who provide information about Li's whereabouts and succeed in finding him. The money will be released within three working days from the date of finding Li.

And those offering authentic and effective clues about Li's assets, which have not yet been ascertained by the court, can earn rewards of up to 21 million yuan, which equals to 10 percent of the actually executed assets. Once it is found to be true, and the property is executed properly, the reward will be released.

The rewarding period is one year, from September 10, 2021 to September 9, 2022.

The chairperson of Haiboxinhui is Li's younger sister Li Zhaoxia.

In 2017, Li was blocked from traveling abroad following his involvement in the dispute.

He was listed as a dishonest person in 2018 and continued to be barred from going aboard.

He took over the Shanxi Haixin Iron and Steel Group in 2003, when he was 22 years old, after his father was shot to death.

In 2007, Li became the youngest billionaire in Shanxi, thanks to his knowledge of the capital market.

He became famous after he married Chinese actress Che Xiao in 2010. After a two-year marriage, they divorced.

Contact: Judge Qin

Work number: 021-62955020 ( Please call on working hours during working days)

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