Wahaha heiress Kelly Zong lost lawsuit in Hong Kong over asset dispute: sources

Wahaha heiress Kelly Zong lost lawsuit in Hong Kong over asset dispute: sources

In a significant legal setback, Kelly Zong, the heiress to Wahaha, China's largest soft-drink company, has lost a lawsuit in Hong Kong over asset disputes. The Hong Kong High Court ruled that Kelly must establish three trusts worth US$2.1 billion for individuals claiming to be her half-siblings [3].

The ruling comes amidst ongoing succession issues following the death of her father, billionaire Zong Qinghou, in February 2024. The dispute, which has sparked widespread discussion on Chinese social media, has put pressure on Kelly's control of the company [3].

The case has reignited scrutiny of Wahaha’s leadership and ownership structure, echoing the corporate power struggle that followed the death of founder Qinghou. Analysts warn that the lawsuits might cause major impacts on the business, potentially hurting employee morale and brand image [3].

Founded in 1987, Wahaha, which means "laughing baby," has three main shareholder groups. An investment company under the government of Hangzhou’s Shangcheng District holds a 46% stake, the family of Qinghou owns 29.4%, and a group representing Wahaha employees has the remaining 24.6% [3].

Kelly is also facing another legal challenge from former Wahaha employees who want to void a 2018 share buyback, alleging that the repurchase price was unfair [3].

The ruling in Hong Kong is set to deliver its final judgment on August 1, 2025 [3].

References:
[1] https://www.scmp.com/business/banking-finance/article/3320068/why-do-mainland-chinas-wealthiest-families-pick-hong-kong-courts-mediate-their-feuds
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3TT0P4:0-nexchip-semiconductor-plans-to-seek-hong-kong-listing/
[3] https://e.vnexpress.net/news/business/companies/inheritance-battle-with-half-siblings-shakes-chinese-heiress-kelly-zong-s-leadership-at-wahaha-soft-drink-empire-4917798.html
[4] https://www.turkiyetoday.com/business/hong-kong-begins-stablecoin-regulation-following-us-accelerated-measures-3204900