Shao Jianming,  chairman of Guangdong Highsun Group, has joined the ranks of the world’s billionaires following gains in the share price of his Shenzhen-listed real estate development company.

Shao, 51, worked in the fashion industry before he entered the commercial property businesses in the early 1990s in southern China’s Guangdong Province.

His Highsun Group acquired a majority stake of Shenzhen-listed state-own Maoming Yongye (Group, in 2003 and injected Highsun Group’s main commercial property development and management businesses into the listed company in 2008. Yongye later changed its name to Highsun Group.

Shao’s Highsun Group has currently has two businesses: commercial property and mining.  Its shares have gained of late, however, on a a plan announced this month to acquire 51% of mobile payment business Guangdong Shanglian Payment for 175 million yuan, or $28 million.  Earlier this year, Highsun received approval to invest 35 million yuan, or $5.6 million, for a 3.5% stake in a new set up consumer finance company mainly owned by Postal Savings Bank of China.

Shao owns 40.8% of Highsun Group, a stake worth 6.5 billion yuan, or $1 billion, at yesterday’s close price, after discounting for collateralized shares.

-with Maggie Chen

- Follow me on Twitter @rflannerychina