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Mystery US$33 bil Chinese medical fortune collapses in days

Filipe Pacheco, Pui Gwen Yeung and Nicola M White
Filipe Pacheco, Pui Gwen Yeung and Nicola M White • 5 min read
Mystery US$33 bil Chinese medical fortune collapses in days
The firm posted net losses of US$4.4 million and US$6.1 million, respectively, for the fiscal years ended June 2024 and 2023 / Photo: Bloomberg
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When Yat-Gai Au was worth US$33 billion on paper, he wasn’t in his Hong Kong office.

One week later, when his net worth plunged to US$10.1 billion, he wasn’t around either.

Officers at the headquarters of Regencell Bioscience Holdings said both times that Au only takes short visits there, before turning away reporters. The firm, a Nasdaq-listed, Cayman Islands-incorporated traditional Chinese medicine company, occupies the whole 9th floor of a tower in Hong Kong’s bustling Causeway Bay, including a reception area with a large table-tennis table.

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