HK PROPERTY DEVELOPER KWONG SIU HING, 94, TOPS HURUN RICHEST WOMEN IN CHINA FOR FIRST TIME WITH US$9.9BN, UP 2 PLACES

RICHEST SELF-MADE WOMAN WU YAJUN, 59, SECOND WITH US$9.2BN

LAST YEAR’S NUMBER ONE YANG HUIYAN, 42, DOWN 4 PLACES TO 5^TH WITH US$6.6BN, AS REAL ESTATE WEALTH DROPS 36%

APPLE SUPPLIERS WANG CHUNLAI OF LUXSHARE PRECISION AND ZHOU QUNFEI OF LENS BOTH MAKE TOP 10, WITH US$7.3BN AND US$5.7BN

8 NEW FACES, LED BY SHENZHEN-BASED ZHOU CHAONAN OF DATA CENTER PROVIDER RANGE TECHNOLOGY WITH US$2.75BN AND SINGAPORE-BASED SHU PING OF HOTPOT CHAIN HAIDILAO WITH US$2.48BN.

59% SELF-MADE, 41% OR 24 INHERITED THEIR WEALTH

WOMEN BORN IN GUANGDONG LED WITH 7, FOLLOWED BY JIANGSU AND ZHEJIANG, WITH 6 EACH

REAL ESTATE, ENERGY AND CONSUMER PRODUCTS TOP 3 INDUSTRIES

HURUN RESEARCH INSTITUTE RELEASES 18^TH EDITION OF HURUN RICHEST WOMEN IN CHINA, IN ASSOCIATION WITH WOMEN IN BUSINESS PLATFORM HEROSE CLUB

l   Women make up 25.4% of the Hurun China Rich List. 60% are self-made.

l   Only 20 saw their wealth increase this year, of which 8 were new to the list. 40 saw their wealth decline or stay the same from last year, and 9 of them dropped off the list.

l  Real estate remained the main source o f wealth, with 17% of the list.

l   7 are from the 1980s, 3 less than last year.

l   The average age is 57, the same as last year.

l  Beijing remains the top city for women entrepreneurs with 7; Shenzhen and Hong Kong tied for second with 4 each; Foshan and Hangzhou ranked fourth with 3. 16 live in the Guangdong-Hong Kong-Macao Greater Bay Area. 4 live outside China, including two each in the US and Singapore.

l   In terms of birthplace, Guangdong once again ranked first, with 7; Jiangsu and Zhejiang ranked second with 6 each. Among the self-made female entrepreneurs, Guangdong, Zhejiang and Jiangsu have 4 each.

l   Women born in the Year of the Snake continue to be the most successful entrepreneurs. Those born in the Year of the Dog had a good year, whilst those born in the Year of the Monkey and Chicken had a relatively bad year.

(14 November 2023, Shanghai) The Hurun Research Institute today released, in association with businesswomen platform Herose Club, the Hurun Richest Women in China 2023, a ranking of the Top 50 richest women. Wealth calculations are from 1 September. This is the 18^th year of the list.

The proportion of women entrepreneurs on the Hurun China Rich List decreased to 25.4% from 26.7% last year, with 60% of them self-made.

The total wealth of the Top 50 richest Chinese women entrepreneurs is US$188bn, down 11% from last year. Compared with the total wealth of the Top 50 Richest Man in China, the men are five times richer. Only 20 of the women saw their wealth increase this year, of which 8 were new to the list. 40 saw their wealth decline or stay the same from last year, and 9 of them dropped off the list this year. The average age is 57. 59% are self-made and 41% inherited their wealth.

This is a brief translation from the original Chinese-language press release, which can be found on www.hurun.net.

Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher, said: “Hurun Report has been telling entrepreneurs’ stories for 25 years. Our Hurun Richest Women in China is a snapshot of China's most successful women in business, a story we have now been telling for eighteen years. Although we only list the Top 50 women from the more than 450 on the Hurun China Rich List, I hope their stories can inspire you to understand more about the entrepreneurial spirit of Chinese women.”

“I am delighted to put out the Richest Women in China list for the second year running in association with the Herose Club. Herose does a really good job in providing businesswomen in China with a platform to network and learn.”

“Top Chinese female entrepreneurs are more active in Real Estate and Consumer Goods, whilst top male entrepreneurs are more active in Food & Beverage, Media & Entertainment, and Automobiles.”

“In the past 18 years, the cutoff to make the Hurun Richest Women in China list has risen nearly 30 times.”

“The average self-made woman on the list was born in 1966, started their business in 1999 at the age of 33, and is 57 years old this year.”

“Of the three self-made women born in the 1990s on the Hurun China Rich List this year, two are women, although neither made the Hurun Richest Women in China list.”

Giggs Chen Youyu, chairman of Herose Holding, said: “It gives me great pleasure to partner for the second year running with the world’s leading women entrepreneurs research house Hurun Report to release the Herose Club · Hurun Richest Women in China 2023. This list reflects the entrepreneurial spirit of women in business in China. We salute these leading women in business. At a time of unprecedented change, the market is in urgent need of emerging new forces. Women in business are undoubtedly a key driving force of the new economy. Herose will continue to help promote the growth, evolution and wealth creation of women in the business world."

Top 10 of Hurun Richest Women in China 2023

Kwong Siu Hing, 94, topped the Hurun Richest Women in China 2023 for the first time with US$9.9bn, up 2 places. Kwong was among the Top 50 of the HENGCHANGSHAOFANG·Hurun China Rich List 2023.

Wu Yajun, 59, maintained 2^nd place with US$9.2bn. Wu was among the Top 60 of the HENGCHANGSHAOFANG·Hurun China Rich List 2023.

Chen Lihua, 82, ranked 3^rd with US$8bn, up 1 places from last year.

Wang Laichun, 56, ranked 4^th with US$7.3bn, up 1 places from last year.

Yang Huiyan, 42, ranked 5^th with US$6.6bn, down 4 places from last year. 

Zheng Shuliang & Zhang Hongxia & Zhang Yanhong, broke into the Top 10 ranked 6^th with US$6.5bn.

Yan Xin, 40, ranked 7^th with US$6.4bn, up 1 place.

Zhong Huijuan, 62, ranked 8^th with US$5.8bn, down 2 places from last year.

Zhou Qunfei back to Top 10 ranked 8^th with US$5.8bn, up 5 places.

Biggest increases

New faces

Biggest drops

Where do they live?

Geographical distribution

Which Industries are they doing?

Self-made or inherited?

34 were self-made, the same as last year, accounting for 59% (57% last year).

24 inherited, 2 less than last year, accounting for 41%.

Chinese Star Signs

Herose Club · Hurun Richest Women in China 2023

About Herose Club

Herose Club, China’s leading growth and social platform for women in business.

Following the rise of the Her Economy, Herose Club has – since its founding in 2008 – grown to 8,000 active members, influencing 300,000 enterprise decision-makers and nearly 2 million new media users, and has branches in 32 cities nationwide. It is a growth and social platform for business women with large scale, deep service and wide influence in China.

Herose Club is committed to the cohesion and promotion of her strength, to provide businesswomen with value creation, connections and to build a sustainable elite ecosystem. The original "San Sheng Service" system of Herose Club not only focuses on “business”, but also extends the definition of “life” and “social”:

Life growth: Create a platform for women's lifelong cultivation, and help members achieve diversified growth and ultimate improvement of life through comprehensive courses from the inside out and systematic soft business evolution system.

Social life: Meet a high-quality lifestyle, experience warm and efficient elite social life, and become the permanent holder of the exclusive social pass at Herose Club.

Business empowerment: Gather the potential energy from the platform to help the business development of members. The resource network throughout the country helps members to develop business ideas, find business partners and grasp market opportunities.

In 2023, Herose Club’s strategic development 2.0 will be launched in a new way, broaden its service territory, deepen its service value, accelerate the growth of more women towards excellence, take on soft responsibilities, and achieve extraordinary life.

About Hurun Inc.

Promoting Entrepreneurship Through Lists and Research

Oxford, Shanghai, Mumbai

Established in the UK in 1999, Hurun is a research, media and investments group, promoting entrepreneurship through its lists and research. Widely regarded as an opinion-leader in the world of business, Hurun generated 8 billion views on the Hurun brand last year, mainly in China and India.

Best-known today for the Hurun Rich List series, telling the stories of the world’s successful entrepreneurs in China, India and the world, Hurun’s other key series is the Hurun Start-up series, ranking the world’s unicorns and future unicorns, as well as giving recognition to young start-up founders.

Hurun has grown to become the world’s largest researcher and list compiler of startups, ranking 2800 startups across the world through its annual Unicorns list (US$1bn+), and two future unicorn lists (Gazelles, most likely to ‘go unicorn’ within 3 years, and Cheetahs, most likely to ‘go unicorn’ within 5 years).

For the young start-up founders, Hurun has created the Under30s, Under35s and Under40s awards, representing the cream of young entrepreneurs who have founded businesses with a social impact and worth around US$10mn, US$50mn and US$100mn respectively.

Other lists include the Hurun Global Highschools List, ranking the world’s best independent highschools, the Hurun Philanthropy List, ranking the biggest philanthropists, the Hurun Art List, ranking the world’s most successful artists alive today, etc…

Hurun provides research reports co-branded with some of the world’s leading financial institutions, real estate developers and regional governments.

Hurun hosts high-profile events across China and India, as well as London, Paris, New York, LA, Toronto, Vancouver, Sydney, Luxembourg, Istanbul, Dubai and Singapore.

For further information, see www.hurun.net.

For media inquiries, please contact:

Hurun Report

Porsha Pan

Tel: +86-21-50105808*601

Mobile: +86-139 1838 7446

Email: porsha.pan@hurun.net

Grace Liu

Tel: +86-21-50105808

Mobile: +86 136 7195 4611

Email: grace.liu@hurun.net