Former Jilin University professor's chip-tool firm rockets to billionaire status

Liu Jianfang, who taught at Jilin University for nearly two decades, founded Jiangsu Gao Kai Precision Fluid Technology (GK Precision) in 2013 and now serves as its chairman and CEO. The Changzhou-based supplier of precision flow controllers raised 1.5 billion yuan through a Shanghai listing, offering 25 million shares at 61.4 yuan each. Within days, the stock climbed almost 400% from its IPO price, lifting Liu’s personal wealth to about $1.4 billion.

GK Precision’s products, essential for managing gases and liquids in high-end semiconductor manufacturing, have attracted orders from BYD, CATL and Hon Hai Technology Group, positioning the firm against established players like Nordson and Horiba. Last year the company posted revenue of 510.6 million yuan, up more than 20%, and net profit of 132.7 million yuan, a one-third increase. Proceeds from the offering will fund further research and the construction of a new R&D centre in China. Liu, who holds a Ph.D. in mechanics and studied briefly at Japan’s Yamagata University, left academia in 2019 to focus on the venture.