Updated:
Qinghe Group
Qinghe Group was founded in 1993 by BaoBing He and is headquartered in Nanjing, China. The group emerged from China's early reform-era private enterprise...
Qinghe Group
Qinghe Group was founded in 1993 by BaoBing He and is headquartered in Nanjing, China. The group emerged from China's early reform-era private enterprise expansion, accumulating capital through real estate development and industrial operations before formalizing investment activities. Unlike many Chinese single-family offices that formed after a tech IPO or manufacturing exit, Qinghe's structure appears to be that of a legacy operating conglomerate where the investment function is embedded within active business lines. The group deploys capital across real estate development, commercial operations, equity investment, leisure tourism, and cultural industry. Its real estate footprint includes mixed-use projects in Shandong Province and the Beijing Qinghe Textile Group premises in Haidian District. On the industrial side, Qinghe maintains a joint venture with ThyssenKrupp through Shandong Thyssen Elevator, signaling ongoing ties to German manufacturing partnerships. In agriculture, the group controls Liaoning Shuiyun Qinghe Rice Industry Co., Ltd., a rice production and processing operation in Liaoning Province, with BaoBing He serving as CEO and Director. Partner entity Huludao Hongyue Group acts as a major investor in this agricultural subsidiary, indicating a co-investment structure with regional industrial partners. The firm does not publicly disclose assets under management or total deployment figures. Its investment structure blends direct operating control — founder BaoBing He holds executive roles in subsidiary companies — with joint ventures and external business partner relationships. Additional associated principals include Li Yanmei, who holds directorships at Zhuhai Huafa Group subsidiaries while maintaining ties to the Shuiyun Qinghe agricultural entity. This pattern suggests a network of interlocking directorates common among Chinese provincial conglomerates, where family office functions are distributed across operating entities rather than centralized in a dedicated investment vehicle. Qinghe's structural differentiator is its identity as a corporate investor that has never separated the family office from the operating company. Unlike the more common Chinese wealth-management model — where founders sell a business and form a pure investment office — Qinghe remains an active operator. The founder's direct management of agricultural production facilities, the ThyssenKrupp manufacturing partnership, and the legacy textile real estate assets make this a balance-sheet investor whose capital allocation choices are inseparable from its industrial strategy.
General information
Firm type
Single Family Office
Year founded
1993
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Nanjing
Corporate office
Nanjing, Jiangsu, China
Principals
BaoBing He
Founder
Sector focus
Frequently asked questions
Who controls investment decisions at Qinghe Group?
Founder BaoBing He appears to maintain direct operational control across multiple subsidiaries, serving as CEO and Director of Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. while overseeing the broader group. Investment decisions are likely made at the founder level given the absence of a disclosed separate investment committee or CIO role. The firm's structure resembles a founder-led operating conglomerate rather than a professionally managed family office with delegated investment authority.
What is Qinghe Group's relationship with ThyssenKrupp?
Qinghe Group operates a joint venture with ThyssenKrupp through Shandong Thyssen Elevator, a manufacturing partnership in Shandong Province. The arrangement suggests Qinghe has maintained a long-term industrial partnership with the German engineering conglomerate, likely centered on elevator manufacturing and distribution in the Chinese market.
How does Qinghe Group's agricultural business fit into its broader portfolio?
Liaoning Shuiyun Qinghe Rice Industry Co., Ltd. represents Qinghe's agribusiness arm, operating rice production and processing facilities in Liaoning Province. Founder BaoBing He serves directly as CEO and Director of this entity, indicating the agricultural operation is not merely a passive investment but an actively managed business. Huludao Hongyue Group participates as a major investor in this subsidiary, suggesting a co-investment model with regional industrial partners.
Where does Qinghe Group's wealth originate?
The group's wealth originated from real estate development and industrial operations dating to its 1993 founding in Nanjing, China. The mix of legacy textile real estate assets in Beijing's Haidian District, mixed-use development projects in Shandong, and the ThyssenKrupp manufacturing joint venture points to wealth accumulated through China's three-decade property boom alongside industrial manufacturing operations.
Does Qinghe Group operate as a pure family office?
No. Qinghe Group functions as a corporate investor where the investment function is embedded within operating businesses rather than separated into a standalone family office. The founder holds active executive roles in subsidiary companies, and the group maintains ongoing industrial partnerships and real estate operations. This contrasts with the more common model of Chinese founders who sell a business and form a dedicated family office to manage liquid wealth.
What is Qinghe Group's geographic footprint?
Qinghe Group operates across multiple Chinese provinces, with its headquarters in Nanjing, Jiangsu Province. Its known asset footprint includes real estate holdings in Beijing's Haidian District, mixed-use development projects in Shandong Province, and agricultural production facilities in Liaoning Province. The group's industrial joint ventures and real estate activities appear concentrated in eastern and northeastern China.
How is Li Yanmei connected to Qinghe Group?
Li Yanmei is identified as a business partner with ties to the Shuiyun Qinghe agricultural entity while also holding directorships at Zhuhai Huafa Group subsidiaries. This interlocking relationship suggests a network of provincial-level business connections common among Chinese family-controlled conglomerates, where key individuals serve across multiple related entities rather than a single corporate structure.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: