
Beijing court orders Zhao Bingxian to divide shares of major investment firm equally with ex-wife Lu Juan after fifteen-year legal battle
A Beijing court has ruled that Zhao Bingxian must pay 536 million yuan (approximately US$75 million) to his ex-wife, Lu Juan, and that the two must equally share the equity of Beijing Zhongzheng Wanrong Investment Group.
The judgment, issued by the Beijing No 3 Intermediate People’s Court in early November, resolves a divorce dispute that spanned fifteen years.
Zhao, long dubbed “China’s Warren Buffett” for his investment acumen, chairs Shenzhen-listed Shandong Wohua Pharmaceutical and holds controlling interests through Zhongzheng Wanrong Investment.
The court’s decision mandates a fifty-fifty split of their joint holdings in the firm, while confirming Lu’s claim to roughly 536 million yuan based on valuation of the shares.
Lu, a Shanghai-native from an investment-savvy family, married Zhao in 1988 after meeting him during his service in the People’s Liberation Army.
Their joint venture in the early 1990s expanded into a substantial corporate empire, with the couple’s assets becoming deeply entwined with their business ventures, the court noted in its ruling.
The outcome was publicly disclosed on 4 November by Wohua Pharmaceutical, which confirmed the second-instance judgment upheld the earlier district-court ruling on their shareholding division.
The decision effectively means neither party has a controlling stake in Zhongzheng Wanrong, altering the company’s governance structure.
The ruling underscores how China's courts are increasingly willing to enforce large-scale asset division in family firms, even when complex shareholding arrangements are involved.
It also raises questions for minority shareholders of family enterprises about corporate control when ownership is halved as a result of personal litigation.
The judgment, issued by the Beijing No 3 Intermediate People’s Court in early November, resolves a divorce dispute that spanned fifteen years.
Zhao, long dubbed “China’s Warren Buffett” for his investment acumen, chairs Shenzhen-listed Shandong Wohua Pharmaceutical and holds controlling interests through Zhongzheng Wanrong Investment.
The court’s decision mandates a fifty-fifty split of their joint holdings in the firm, while confirming Lu’s claim to roughly 536 million yuan based on valuation of the shares.
Lu, a Shanghai-native from an investment-savvy family, married Zhao in 1988 after meeting him during his service in the People’s Liberation Army.
Their joint venture in the early 1990s expanded into a substantial corporate empire, with the couple’s assets becoming deeply entwined with their business ventures, the court noted in its ruling.
The outcome was publicly disclosed on 4 November by Wohua Pharmaceutical, which confirmed the second-instance judgment upheld the earlier district-court ruling on their shareholding division.
The decision effectively means neither party has a controlling stake in Zhongzheng Wanrong, altering the company’s governance structure.
The ruling underscores how China's courts are increasingly willing to enforce large-scale asset division in family firms, even when complex shareholding arrangements are involved.
It also raises questions for minority shareholders of family enterprises about corporate control when ownership is halved as a result of personal litigation.







































