W u Zhigang is the founder of Shenyang Toly Bread, one of China's largest and most recognizable bakery chains. A former teacher at a telegraph school, he started the business in 1995 in Shenyang at the age of 60, proving it's never too late to become an entrepreneur. Toly Bread focused on producing short-shelf-life breads for the mass market, building a massive distribution network that delivers fresh products to supermarkets and convenience stores daily.
Under Wu's leadership, the company expanded rapidly across China and went public on the Shanghai Stock Exchange in 2015. He retired from the chairmanship in 2019, passing leadership to his sons, but the family remains the controlling shareholder. Toly Bread is widely credited with industrializing the bakery industry in China.
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Wu Zhigang is a Chinese businessman and founder of the Shanghai-listed bakery chain Shenyang Toly Bread (SHA: 603866).
Wu was originally a teacher at an industrial school before co-founding the chain with his son Wu Xuequn in 1995. His wife, Sheng Yali, and three sons, Wu Xuedong, Wu Xuequn, and Wu Xueliang, all hold shares in Toly.
Wu Zhigang successfully transitioned from teaching to the fast-growing retail food sector. His structural achievement is scaling Toly Bread into a major, publicly listed bakery chain, capitalizing on China's rising consumer market.
He retired as chairman in 2019 and was succeeded by his son Wu Xueliang. His wife and three sons are actively involved, holding board positions and ensuring the family's control of the business.
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Cofounds Shenyang Toly Bread with his son Wu Xuequn.
Retired as chairman and was succeeded by his son Wu Xueliang.
His wife and three sons hold shares and board seats.
Wu Zhigang's wealth is concentrated in his family's controlling stake in the publicly traded bakery chain, Shenyang Toly Bread.
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+0.21% | +$5.05M
-0.14% | -$1.89M
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