Qin Yinglin

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  • Post category:China

Name: Qin Yinglin

Country: China

Date of birth: 8.7.1965

Education: Degree in the field of Animal Husbandry from the university Henan Agriculture

Type of business: Businessman

Main Achievements: Chinese entrepreneur, an opportunist, self-made, leader and being a visionary Qin is now China’s leading pig breeder along with this he holds the title for being the prime leader of the global pork market. He is the Founder of Muyuan Foodstuff Co. Ranked as one of the world’s 500 wealthiest people; he is also marked as one the fastest individual to make a fortune. He is positioned by Forbes as the 9th person in China rich list of 2019 and the 43rdindividual in the billionaires 2020 ranking.

Something interesting about the person: He started this venture along with the support of his wife with just 22 pigs.

Biography:

Qin Yinglin was born in the year 1965 in one of the most prevalent provinces of China, Henan, in the city of Nanyang. In the year 1989, Qin graduated from the renowned Henan Agriculture University and specialized in the field of Animal Husbandry.

After completing his education, Qin gained employment in the public-owned organization. His entrepreneurial mindset and his capitalist nature lead him to quit his job just after working for 3 years. He pursued the path of building his own career, and along with the assistance from his wife, he invested in a new venture.

The couple together, Qin Yinglin and Qian Ying, initiated the company Muyuan Foodstuff Co. in Qin’s hometown, Nanyang, with just twenty-two pigs as their assets. The prime function of the business was in hog breeding. Still, the company’s operations expanded to more areas, feed processing, and hog slaughtering. 

Qin Yinglin is a man who has a far-seeing vision, he has not only build his business towards handsome profits but alongside he has been an active member of the social welfare. He has a significant value placed for social responsibility and put this belief into practice in, 2011 when he donated 60 million yuan for the Henan Provincial Poverty Alleviation and Development Association, a corporation working for the development of rural areas, improving literacy rates and taking care of the senior citizens of the region.

Over the years, Qin has not limited himself as the founder of Muyuan Foodstuff Co., he spread his course of workings in various fields. He was a delegate in the 13th National People’s Congress. He has contributed immensely to the society and the citizens. His efforts were recognized by the people as he was honored by awards like the top ten outstanding young farmers in China, model workers of the Henan Province, titles like the bachelor pig, and various others. 

One of the reasons behind Qin’s thriving business is his opportunistic nature. Earning customer trust and loyalty, he used the tactic of increasing prices to earn the revenue. Being one of the leading companies in the pork industry, he doubled the prices and earned a hefty amount of profit. He was able to use this strategy effectively as China was facing a pandemic known as the African swine fever, which was leading to the death of pigs in a figure of millions.

 As there is no vaccination available for the epidemic, the company used a variety of measures like disinfecting their transport, purifying the air, and disinfecting the animal feed. These extensive procedures led both the company and Qin Yinglin to ample gains.  The sharp increase in demand, along with the fact that small businesses in the competition were forced towards liquidation, Mayuan Foodstuff Co. acquired more than 260% of the profit just by increasing the cost of the products and services provided. 

The break out of the virus turned beneficial for Qin Yinglin as he held 60% of the shares of the company. He became China’s leading pig breeder and also ranked highly in the global pork market. Forbes positioned him as the 9th richest induvial of China, and Qin also was placed in the 43rd position in the billionaires 2020 list.  

Links

https://www.forbes.com/profile/qin-yinglin/#50121ac16365 https://www.afr.com/companies/agriculture/pork-crisis-makes-pig-farmer-world-s-fastest-rising-billionaire-20191215-p53k41

http://www.muyuanfoods.com/index.php/52f4a5c60a