BUSINESS

Wahaha Heiress Loses Hong Kong Appeal Over Freeze on $1.8 Billion HSBC Account

Published: Jul. 22, 2026 4:52 a.m. GMT+8

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Zong Fuli delivers a speech at the 2020 Zheshang Annual Conference in Hangzhou on Nov. 24, 2020. Photo: VCG

Hong Kong’s High Court has dismissed an appeal by Zong Fuli, the eldest daughter of late Wahaha Group founder Zong Qinghou, leaving in place a freeze on an HSBC account holding $1.8 billion at the center of a bitter inheritance dispute.

The ruling keeps the assets locked down pending the outcome of a related lawsuit in Hangzhou, where three other children of the billionaire beverage tycoon are seeking recognition as beneficiaries of offshore trusts they say their father set up before his death.

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Hong Kong High Court dismissed Zong Fuli's appeal, freezing a $1.8 billion HSBC account in an inheritance dispute.
The freeze supports a Hangzhou lawsuit where three siblings seek recognition as offshore trust beneficiaries from father Zong Qinghou.
The court rejected all appeal grounds, confirming the injunction was properly granted under Hong Kong law.

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Who’s Who

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What Happened When

January 2024：: Zong Qinghou wrote handwritten instructions directing a subordinate to set up a $700 million trust in Hong Kong for each of three siblings (Jacky Zong, Jessie Jieli Zong, Jerry Jisheng Zong).

February 2, 2024：: Zong Qinghou signed a power of attorney authorizing Zong Fuli to hold assets of Jian Hao Venture Ltd. as trustee and instructed her to establish three offshore trusts for her siblings and their children.

March 14, 2024：: All four siblings (Zong Fuli, Jacky Zong, Jessie Jieli Zong, Jerry Jisheng Zong) signed an agreement affirming the legal validity of the February 2 will and acknowledging the arrangements set out in it.

As of May 31, 2024：: The HSBC account held $1.8 billion.

2024：: Zong Qinghou passed away.

August 2025：: An asset-preservation and disclosure order was first issued by Hong Kong's High Court. The three siblings presented three key documents during hearings.

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