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FattycatCommunity StarBABA Diamond HolderSep 16, 2026 at 01:23 AM
Featured
🚨 Who Is Next After Haidilao? HK Stocks Trust Tax Watchlist
I guess many investors must have heard about Haidilao’s founder share sale news.
Bloomberg and The Straits Times recently have also covered the news and flagged Xiaomi, Li Ning, Sunac and Guming as names to watch.
I decided to do my own independent research to see who else may be affected.
Here is what I have gathered :
Fact: Based on China’s MOF and STA Announcement No.21. The compliance deadline is 22 October 2026.
Offshore discretionary trusts holding founder equity will face a 20% tax on accumulated dividends, trust contributions from 2023 to 2025 and realised capital gains. Any unpaid taxes after the deadline will incur a 0.05% daily surcharge plus penalties up to five times the owed amount.
I reviewed 19 major HK-listed tech leaders. 11 founders hold controlling stakes through offshore discretionary trusts. These companies are now under close watch before the deadline.
1️⃣ NetEase (9999.HK)
Largest exposure in this group. Estimated tax bill of US$600–700 million from historical trust dividends.
2️⃣ Pop Mart (9992.HK)
Structurally very similar to Haidilao. Uses the same trustee firm UBS Trustees B.V.I. Estimated bill of US$60–90 million.
3️⃣ Horizon Robotics & XtalPi
Both settled their trusts within the retroactive period without dividend cash. They may need to sell shares to fund the tax payment.
📊 Please refer to the full infographic for more details.
Do you think the above companies like to follow Haidilao🙄?
Disclaimer: For information and educational purposes ONLY. Based on public available information and I may be wrong. Hence this is definitely not financial or tax advice. Do your own due diligence☺️.
$HAIDILAO(06862.HK)$NTES(09999.HK)$POP MART(09992.HK)
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FattycatCommunity StarBABA Diamond HolderSep 10, 2026 at 05:03 AM
$HAIDILAO(06862.HK)
🚨 Haidilao HK$2.75B Share Sale: Founder Exit or Tax Move? 🤔
When SP NP Ltd sold 259 million shares for about HK$2.75B or US$353M, the stock dropped 9.1% to a 52-week low.
SP NP Ltd is the offshore holding vehicle for Shu Ping, wife of Haidilao chairman Zhang Yong.
But is this a lack of faith or something else?
Here is what the facts show:
📌 Control Stays Intact
The family sold 4.65% at HK$10.62 per share, cutting their holding from 50.1% to 45.49%. They still hold majority control and no new shares were issued or diluted.
📌 The Real Trigger: Tax Rules
On 24 July, 2026, China released new tax rules for offshore trusts. These rules apply a 20% tax on deemed disposals and trust income.
The sale raises cash to meet these obligations before the penalty-free window closes on 22 October 2026.
📌 Business Remains Strong
In H1 2026, revenue grew 14.0% YTY to HK$25.55B and EBIT rose 17.0% to HK$2.96B. Notably, Zhang Yong actually increased his own stake just four months ago in May 2026.
💡 Bottom Line
This is tax-driven selling and not a founder walking away. See the infographic for the full breakdown!
Not financial advice. Do your own due diligence ☺️.
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momoMMar 7, 2025 at 08:54 AM
$Hang Seng Index(00HSI.HK) market trends spreading to consumer sector $ANTA SPORTS(02020.HK)$LI NING(02331.HK)$HAIDILAO(06862.HK)$MIXUE GROUP(02097.HK)