Core Insights - Liu Yiqian and his family have recently pledged shares in Changjiang Securities and Hendi Pharmaceutical, totaling nearly 5 billion yuan, indicating a contraction in their business empire [1][3] - Liu Yiqian's wealth has accumulated to 39 billion yuan, ranking 675th on the Hurun Global Rich List, but his business empire is visibly shrinking due to significant losses in subsidiaries [3] Summary by Sections Changjiang Securities - Changjiang Securities announced that its major shareholder, New Liyi Group, will conduct a stock pledge repurchase transaction, involving 2.9 million shares from Minqiong Limited and 1.22 million shares from Zhuang Bin Limited, totaling 7.44% of the company's equity [1] - The pledged shares are valued at approximately 3.746 billion yuan based on the closing price of 9.1 yuan per share on November 10 [1] Hendi Pharmaceutical - Liu Yiqian's family members pledged a total of 72.5 million shares in Hendi Pharmaceutical, representing 17.36% of the company's total equity, for "investment cooperation" purposes [2] - The pledged shares are valued at around 1.151 billion yuan based on the closing price of 15.88 yuan per share [2] Liu Yiqian's Background - Liu Yiqian, known as the "King of Corporate Shares," began his career as a taxi driver in the mid-1980s and became a prominent figure in the financial market in the 1990s [2] - He founded New Liyi Group in 2000 and has been involved in numerous financing projects, earning the nickname "Magic Master of Financing" [2] Financial Performance and Challenges - Liu Yiqian's core platform, Tianmao Group, faced delisting risks and was eventually delisted, leading to a personal wealth decline of over 10 billion yuan [3] - Changjiang Securities reported its highest revenue and net profit since its listing, but New Liyi Group's influence has diminished as it has become the second-largest shareholder [3] - Liu Yiqian's stake in Yuncong Technology has been reduced to 1.58%, and he has exited the top ten shareholders of several companies [3]