PRESS RELEASE

FOR IMMEDIATE RELEASE

March 6, 2020

 

Mandy Zheng

Himalaya Capital Management

Phone: 1-206-707-0768

Email: info@himcap.com

 

 

Li Lu, Founder and Chairman of Himalaya Capital Management, Donates to Chinese Hospitals and Institutions to Fight COVID-19

 

SEATTLE, WASHINGTON, (March 6, 2020) - Since the coronavirus (COVID-19) outbreak in Wuhan, China, Mr. Li Lu, the founder and Chairman of Himalaya Capital Management, LLC (“HCM”), in concert with HCM employees, friends, and volunteers, have been working to provide support for Wuhan through the Li Lu Humanitarian Foundation (the “Foundation”).  Himalaya Capital established the 2020 Helping Wuhan! campaign with funding from the Foundation to provide needed medical supplies and financial assistance to various hospitals and institutions in China. After over a month of continuous efforts, overcoming various unexpected obstacles, as of today, more than 10 million RMB (1.5 million USD) of financial assistance and medical supplies have been donated and successfully delivered to those in need.

 

By partnering with supplier companies, organizations, and volunteers both overseas and in China, we procured, donated, and successfully delivered critical medical supplies to over 100 hospitals and medical institutions in the Wuhan area and all around China, including: 145,400 surgical and procedure masks, 367,100 pairs of medical gloves, 6,000 protective coveralls, 1,088 kg of disinfecting powder (equal to 543,750 liters of disinfectant solution), several hundred UV light disinfecting equipment, and numerous N95 masks and googles.

 

The Li Lu Humanitarian Foundation also make a direct donation of RMB 4 million (577,000 USD) to 16 hospitals, institutions, and organizations in Wuhan and surrounding areas, especially those lesser-known and more vulnerable areas.

 

In order to provide long-term financial assistance to the family members of those front-line medical workers who made huge sacrifices and lost their lives in this epidemic, we established the Guardians of the Angeles Charity Foundation, with board members Ms. Xin Zhang, Chinese screenplay writer and novelist, and Mr. Liam Li, Managing Director of Himalaya Capital Management, and chaired by Professor Cunyu Wang, member of the National Academy of Medicine and Associate Dean for Graduate Studies of UCLA School of Dentistry. The Li Lu Humanitarian Foundation donated RMB 3 million (433,000 USD) to seed this foundation, and calls for more people to join us in contributing to the Guardians of the Angeles Foundation to provide assistance to these surviving family members. 

 

In this battle against the epidemic, we reserve our utmost respect and admiration to those medical professionals who courageously work on the frontline day and night. We give our deepest condolences to the families who suffered illness, pain, misfortune, and lost their loved ones. We pray for everyone who are still fighting the disease and living in the shadow of this horrible virus. Himalaya Capital would like to express our gratitude to the members of the Support Wuhan group for their tireless work and selfless dedication and sacrifices. Without their help, none of these efforts can be accomplished. In particular, we express our highest gratitude and respect to the following who contributed the most: Mr. Neville Lin, Mr. Skye Xu, Ms. Junzi Tan, Ms. Xin Zhang, Professor Cunyu Wang, and Mr. Liam Li.

 

We would also like to express our heartfelt thanks to the Li Lu Humanitarian Foundation, Hubei Charity Federation, Chinese in America In-Kind Donation Group (“CAIDG”), Anhui Love Charity Foundation, Powermax USA, Xchange Logistics, Intco Medical, Huazhong University of Science and Technology Alumni Association in Seattle, United Chinese Americans of Washington (UCAWA), Seattle Hubei Fellow Association, Peking University Alumni Association in Washington (PUAAWA), Wuhan University Alumni Association in France, Wuhan University Association in New York, Committee of 100, China Charity Alliance, and other organizations and institutions that have provided assistance and support during the process.

 

COVID-19 in China is now showing signs of containment and the country is well on its way of recovery. However, the virus is now spreading rapidly around the world including the United States. Our focus has now shifted here at our home in this country. We are actively looking for ways to help our community and our people in the United States. If you have needs, resources, or professional expertise and wish to collaborate with us, please contact us at info@himcap.com.   

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About Himalaya Capital Management:

 

Himalaya Capital was founded by Mr. Li Lu in late 1997.  We manage one fund, Himalaya Capital Investors L.P., which Mr. Li Lu has been running continuously since its inception on January 1, 1998.  We embrace the value investment principles of Benjamin Graham, Warren Buffett, and Charles Munger, and today primarily focus on publicly traded companies in Asia, with an emphasis on China.  We aim to achieve superior returns by being long-term owners of high-quality companies with substantial “economic moat”, great growth potential, and run by trust-worthy people.