FINANCE

Chairman of Shenzhen State-Backed Investment Firm Dies Unexpectedly at 54

Published: Mar. 3, 2026 12:05 p.m. GMT+8

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Shao Gang

Shao Gang, chairman of Shenzhen HTI Group Co. Ltd., died unexpectedly in late February, according to multiple people with knowledge of the matter. He was 54.

Shao had been on medical leave for a few weeks and was hospitalized for treatment for depression, the people told Caixin.

Surveillance footage from the day of the incident showed him remaining inside his residential complex for roughly two hours starting after 4 a.m., before falling from an 18th-floor platform at around 6 a.m., sources familiar with the matter said.

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Shao Gang, chairman of Shenzhen HTI Group, died unexpectedly at age 54 in late February after a fall from his residential building.
He had been on medical leave for depression and previously served as a top executive at Shenzhen Capital Group, known for investments in Tencent Music and Mindray.
His death is considered a personal tragedy with no clear link to his professional responsibilities.

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Who’s Who

Shenzhen HTI Group Co. Ltd.: Shenzhen HTI Group Co. Ltd. is a state-controlled company in Shenzhen, China. Founded in 1994, it provides financing guarantees, venture capital, and asset management services, primarily to small and midsize technology companies. Its chairman, Shao Gang, unexpectedly passed away in late February at 54 years old due to depression. His death, a personal tragedy, has drawn attention within Shenzhen's state-backed investment community.

Shenzhen Capital Group Co. Ltd.: Shenzhen Capital Group Co. Ltd. is a prominent state-owned venture capital firm based in Shenzhen. Shao Gang, who passed away recently, served on its investment decision committee for over a decade, rising to a top executive position. The firm is known for its investments in companies like Tencent Music and medical device maker Mindray.

Tencent Music: Tencent Music was mentioned as one of the investments Shao Gang participated in during his long tenure at Shenzhen Capital Group Co. Ltd. Shenzhen Capital Group is a well-known state-owned venture capital firm.

Mindray: Mindray is a medical device maker that received investment from Shenzhen Capital Group Co. Ltd. Shao Gang, a former executive at Shenzhen Capital Group, participated in this investment.

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