Early Life
Qin Yinglin was born in 1965 in Hexi Village, Henan, China. He grew up in poverty, which motivated him to study pig farming at Henan Agricultural University. In 1982, Qin's father bought 20 pigs, but most died, which further fueled Qin's interest in animal husbandry. He graduated with a degree in animal husbandry in 1989.
Rise to Success
Qin Yinglin and his wife, Qian Ying, started a pork business in 1992 with just 22 pigs. By 1994, they had grown their business to 2,000 pigs, and by 1997, they had 10,000. In 2000, Qin founded Muyuan Farming, which later became Muyuan Foodstuff, the company that would propel him to become the world's richest farmer. Muyuan Foodstuff went public on the Shenzhen Stock Exchange in 2014, and by 2023, the company sold 63 million pigs.
Key Business Strategies
Qin's business success is attributed to his strategic approach, including vertical integration, technological innovation, and scientific breeding methods. Muyuan invested heavily in technology, including AI-driven farming, environmental sustainability, and automated facilities. During the African swine fever crisis, Muyuan was able to thrive because it owned more of its own facilities than competitors, allowing it to better control the spread of disease.
Philanthropy
Qin is known for his philanthropic efforts, donating significant amounts to educational institutions, including the Westlake Education Foundation. In 2019, he donated stock worth RMB 100 million and in April 2020, he donated stock worth RMB 800 million to the Westlake Education Foundation to support research and innovation.