{
  "id": 6400232,
  "title": "Haidilao billionaire’s US$350 million surprise sale sinks shares",
  "url": "https://urgent.news/2026/09/09/haidilao-billionaires-us-350-million-surprise-sale-sinks-shares",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T08:42:06.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/haidilao-billionaires-us350-million-surprise-sale-sinks-shares"
  },
  "original_language": "en",
  "account": "The wife of Haidilao's chairman and CEO, Shu Ping, surprised the market by seeking to sell up to US$350 million worth of shares in the company's hotpot chain. The sale, executed through a family trust, led to a drop in Haidilao's shares by as much as 12%, bringing the stock to its lowest level since March 2022. Shu Ping holds a 50% stake in Haidilao, alongside her husband, and reportedly acquired additional shares in May. The share sale, representing around 4.6% of the outstanding shares or 12.2% of the free float, coincided with China's announcement that it would begin taxing offshore trusts held by its citizens, effectively closing a long-standing loophole used for asset protection and succession planning. This development sent shockwaves through wealth management hubs in Hong Kong, Singapore, and other global markets.",
  "summary": "[BEIJING] The founding family behind China’s biggest chain of hotpot restaurants sought to sell up to US$353 million shares, sending the firm’s...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}