Yu Hongzhi himself became the chairman of China Hongda. In June 2006, China Hongda Holdings Limited was renamed as China Basic Resources Holdings Limited. Later, Yu Hongzhi gradually faded out of China's basic resources through a series of reduction and equity transfer. At present, the controlling shareholder and chairman of the company are both Ms. Ma Zheng, with a shareholding ratio of 50.46%.
Yu Hongzhi himself became the chairman of China Hongda. In June 2006, China Hongda Holdings Limited was renamed as China Basic Resources Holdings Limited. Later, Yu Hongzhi gradually faded out of China's basic resources through a series of reduction and equity transfer. At present, the controlling shareholder and chairman of the company are both Ms. Ma Zheng, with a shareholding ratio of 50.46%.
In Yichang, Yu Hongzhi appeared in public as the chairman of Hong Kong Torch Group and Hong Kong Zhicheng Group. According to the reporter of Economic Observer Network, as early as 2005, Yu Hongzhi began to set foot in Yichang market, and its investment scope covered plastic pipes, real estate development, food processing and other fields, among which the most interesting one was its investment in tourism real estate development project-an island at 30 degrees north latitude in Changyang County, Yichang City.