Qiao Jinling committed suicide.

On September 7, 2003, Qiao Jinling died at home. After investigation, the death was due to cerebral hemorrhage. After Joe's death, the share price of the listed company Yellow River Cyclone (related, market) also fell, and the holding company Yellow River Industrial Group also suffered the fate of the stock market shrinking by 490 million.

The fall of Henan's richest man is also rumored. It is rumored that Qiao Jinling committed suicide because of an economic debt dispute. According to local officials, Qiao Jinling, a partner who started a business in the early 1980s, registered and established a company in Zhengzhou on 1986 in his and Joe's names, and borrowed 1 100 million yuan from Liaoning to engage in real estate development in Hainan. Later, Hainan's real estate bubble burst, and 1 100 million went up in smoke. Liaoning creditors sued the company, and the Higher People's Court of Liaoning Province ordered the company to repay its debts. After reselling to Shanghai, the company was sued again and lost again. Three of the four shareholders have gone bankrupt, and only Qiao Jinling's Yellow River Industrial Group owns hundreds of millions of property. The Higher People's Courts of Liaoning Province and Shanghai Municipality both ruled that Qiao Jinling paid off debts of 654.38 billion yuan. It is said that Joe doesn't know about it.

Officially, Joe is honest and has a traditional mind. He takes "starve to death without being a thief, die without complaining" as his life creed. If he repays Liaoning's debt of 100 million yuan, the Yellow River Industrial Group is bound to close down. But at this time, the case has been decided by the high courts in Liaoning and Shanghai. Qiao Jinling is full of grievances, nowhere to complain, and desperate.

The official also said that Joe is the largest taxpayer in the area. Since the establishment of the enterprise for more than ten years, he has paid more than 600 million yuan in taxes. He is also very enthusiastic about local public welfare undertakings.

Joe's accidental death caused great shock and speculation in the local area and became a hot topic in the street. In the stock market, the shares of "Yellow River whirlwind" fell for several days in a row. The vacancy left by Qiao Jinling was replaced by his eldest son Qiao Qiusheng after the procedure. Qiao Qiusheng started as a factory worker and has been the chairman of a listed company.