He appears as a director on at least five other company boards in Hong Kong, including Charoen Pokphand Skyland Group Ltd., a firm that uses the name of the conglomerate of Thailand’s richest family.

Tse Ping, who’s been a national committee member of the Chinese People’s Political Consultative Conference, the nation’s top political advisory body, will remain as president of Sino Biopharmaceutical after the share transfer. Its purpose is to refine the management and inheritance of the family’s wealth, according to the statement.

Eric’s shares will be held via holding companies Thousand Eagles Ltd. and British Virgin Islands-based Remarkable Industries Ltd.

This article was provided by Bloomberg News.

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