Xu Yangyang (R) at the bell-ringing ceremony for the listing of Dali Foods Group on the Hong Kong stock exchange [China Women's News]

Xu Yangyang, 32, has become one of China's richest women following the initial public offering of Dali Foods Group based in southeast China's Fujian Province, known for its snacks and drinks offerings.

The food company, in which Xu has a 34 percent stake, finished at 5 HK dollars (US $0.65) a share on its debut at the Hong Kong stock exchange, down some 4.8 percent from its offering price.

Despite the somewhat lackluster performance, Xu's holdings were estimated to be valued at over 19 billion yuan (U.S. $3 billion), whist her father's roughly 43 percent shareholding was projected to be valued at 24 billion yuan (U.S. $3.8 billion).
 
Given that the figures only represent the wealth generated from the stock market, excluding other assets from real estate, hotel and financial operations, Xu has exceeded Wu Yajun, chairperson of Longfor Properties, and Zhang Yin, chairperson of Nine Dragons Paper, to become the fourth richest woman on the Chinese mainland. The latter two have made frequent appearances on the world's wealthiest lists.

As the daughter of Xu Shihui, founder of Dali Food Group, Xu Yangyang was appointed as the company's board member in November 2014 and currently serves as vice-president and executive director.

She graduated from the Department of Economics of Xiamen University 10 years ago and later studied in the UK. She rarely appeared in media coverage. Those of her acquaintances described her as "sincere and trustworthy."

As some Hong Kong outlets observed, she accompanied her father during the meetings with investors and answered questions fluently, "with a demeanor of a female master of the house."

According to the company's published financial reports, Dali Food Group has reported steady growth in business turnover in recent years. Its long-established snack food brands Daliyuan, Haochidian and Copico have taken lead among their peers and its relatively new drinks brands have soared to the top three of each of their market segments.

The company made 1.5 billion yuan (U.S. $240 million) net profit in the first half of 2015, up around 47 percent year on year.

The company has also taken active part in charity activities. It has donated over 500 million yuan (U.S. $79 million) to various charity campaigns.

In February this year, the company donated 8 million yuan (U.S. $1.3 million) to benefit over 8,000 seniors aged over 60 in Hui'an County, Fujian Province.

From 2010-2015, the company donated around 37 million yuan (U.S. $5.9 million) to aid over 40,000 elderly people in three local townships around the traditional Spring Festival.

The company also spent 300 million yuan (U.S. $48 million) on launching education funds in various provinces to support teachers and students.

Senior boss Xu Shihui ranked ninth in Forbes 2014 Philanthropists' List with a donation of some 120 million yuan (U.S. $19 million).

Rare media coverage of Xu Yangyang generally showed her participating at charity events.

Public information also shows Xu Shihui had a son who, according to media reports, died from a car accident during a business trip in July 2012 at the age of 27 whilst he was acting vice-president of the company.

Chen Liling, Xu Shihui's wife, holds an 8.5 percent stake in the company.

Editor: Kate Wu(China Women's News）