Kelly Zong, chairwoman of Hangzhou Wahaha Group Co. and daughter of the late beverage tycoon Zong Qinghou, is seeking to appeal two Hong Kong court orders restricting her access to $1.8 billion held in an HSBC Holdings Plc account, as reported by Bloomberg.
Earlier this month, the Hong Kong court barred Zong from tapping the account after three of her half-siblings—Jacky, Jessie, and Jerry Zong—challenged her control over the funds. The ruling also required Zong to disclose transaction details and the latest balance, according to an August 1 judgment.
A hearing on her appeal was initially scheduled for September 30, according to a court website notice that was later removed for unclear reasons. Zong intends to seek formal court approval to proceed with the appeal, a person familiar with the case told Bloomberg, requesting anonymity due to the sensitivity of the matter.
The inheritance dispute pits Kelly Zong against her half siblings, who are demanding $2.1 billion in trust assets they claim their late father promised them before his death in February 2024. They allege that Zong Qinghou, the billionaire founder of Wahaha and once China’s richest man, issued hand-written instructions to establish three $700 million trusts.
The plaintiffs are asking Kelly to honor their father’s wishes, pay millions in accrued interest, and compensate them for losses they say resulted from the transfer of funds. Their lawyer, Karas So LLP, declined to comment, while Zong’s legal representative, Anthony Siu, did not respond to requests.
The case has gained widespread attention in China, sparking online debate since Bloomberg News first reported on the proceedings in July. Analysts say the dispute could set an important precedent for wealth succession in China, where family-controlled businesses dominate major sectors of the economy.
Founded in 1987, Wahaha grew from a single children’s nutritional drink into one of China’s most iconic beverage empires, producing bottled water, teas, and juices. Following the death of her father at 79, Kelly Zong, 43, assumed leadership of the company after months of internal shareholder negotiations. The Zong family’s wealth is estimated at over $3.3 billion, according to the Bloomberg Billionaires Index.
