---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000901415.md"
description: "🚨 Who Is Next After Haidilao? HK Stocks Trust Tax WatchlistI 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)"
datetime: "2026-09-16T01:23:39.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000901415.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000901415.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000901415.md)
author: "[Fattycat](https://longbridge.com/en/profiles/19854884.md)"
generator: "portal-rs"
---

# 🚨 Who Is Next After Haidilao? HK Stocks Trust Tax …


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## Comments (9)

- **Captain Leo · 2026-09-22T09:29:01.000Z**: Picked for the Star Creator Program. Rather than re-reporting the Haidilao story, you turned it into a watchlist question about who is structurally exposed next. Task coins are on the way.
  - **Fattycat** (2026-09-22T09:42:25.000Z): Thanks Captain.
- **SleepyPanda · 2026-09-16T05:39:11.000Z**: Drop to $9.50 now, 8% dividend yield.
  - **Fattycat** (2026-09-16T05:44:38.000Z): Yes. Fundamentally and financially Haidilao is still sound. 8% dividends yield is super attractive.Anyway, don’t  know if NetEase will be the next counter to sell down😜.
  - **SleepyPanda** (2026-09-16T06:11:57.000Z): Saw your infographic diagram, JD is also at risk. Leading up to October could be very nervous period.
- **Christina · 2026-09-16T02:22:29.000Z · 👍 1**: the early tell is the ccass participant file, stock moving out of a founder trust shows up as a custodian shift there before any disclosure filing catches up.
- **Vt3 · 2026-09-16T02:15:26.000Z · 👍 1**: I love 🌶️ food in Chong Qing better than this name
- **Vt3 · 2026-09-16T01:53:48.000Z · 👍 1**: Liked eating their food 🌶️
  - **Fattycat** (2026-09-16T02:06:54.000Z): Expensive. Once a while is good enough 😂.


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**