From Hot Pot to High Finance: The Rise of Shu Ping, Singapore’s Richest Woman
The classic saying “behind every great man, there’s a strong woman” barely captures the role of Shu Ping in her husband Zhang Yong’s success as one of Singapore’s wealthiest individuals. Forbes estimates Ping’s wealth at US$2.4 billion, making her the richest woman in Singapore.
Haidilao’s Humble Beginnings
Shu Ping wasn’t merely a supportive partner; she actively participated in building Haidilao International Holding, the globally recognized hot pot restaurant chain. Founded in 1994 with just 8,000 yuan (approximately $19 million in today’s exchange rates), Haidilao started as a small eatery with four tables. The initial concept focused on Sichuan-style spicy hot pot, a cuisine originating from the region where Zhang Yong was born.
The restaurant quickly gained popularity, not just for its flavorful cuisine but also for its exceptional customer service. Early innovations included offering free manicures and massages to customers waiting for tables, providing warm towels and aprons and even offering teddy bears to diners eating alone. As Harvard Business School Professor F. Warren McFarlan noted, “Service has been core since the beginning.”
From Welder to Restaurateur: Zhang Yong’s Inspiration
Zhang Yong’s commitment to exceptional service stemmed from his own experiences. Growing up in a poor family, he didn’t dine in a restaurant until he was 19 while working as a welder. His first restaurant experience was disappointing, marked by rude service and subpar food. This experience fueled his determination to create a dining experience that prioritized customer satisfaction.
Expansion and Strategic Leadership
Today, Haidilao operates nearly 1,400 restaurants across China, Hong Kong, Macau, and Taiwan, with a growing international presence including 12 locations in Indonesia. The company’s success led to a strategic restructuring in 2020, with the creation of Super Hi to manage its international business. Shu Ping was appointed Chairman of Super Hi in 2023.
Beyond Super Hi, Shu Ping also serves as a director of Sichuan Haidilao Catering Co Ltd and Yihai International Holding Ltd. Sichuan Haidilao Catering operates the core Haidilao restaurants in China, while Yihai International focuses on the production and distribution of sauces and ingredients used in the restaurants, as well as retail sales.
A Family Office and Financial Acumen
Demonstrating her financial expertise, Shu Ping established Sunrise Capital Management in July 2019, a family office dedicated to managing the family’s assets. This move coincided with a challenging period for Haidilao due to the COVID-19 pandemic, which forced temporary restaurant closures and a shift to online delivery services.
Education and Citizenship
Shu Ping and Zhang Yong both originally hail from China but became Singaporean citizens in September 2018. Shu Ping has also pursued advanced education, earning an MBA from Cheung Kong Graduate School of Business, an EMBA from Shanghai Jiao Tong University and Nanyang Technological University, and a Ph.D. In Applied Finance with a specialization in wealth management from the University of Geneva.
The Future of Haidilao and Shu Ping’s Influence
Shu Ping’s leadership roles and educational background suggest a continued focus on strategic growth and financial stability for the Haidilao group. Her expertise will be crucial as the company navigates the evolving global landscape and expands its international footprint.
Did you understand?
Haidilao’s commitment to customer service is so renowned that it’s develop into a case study in business schools worldwide.
FAQ
Q: What is Shu Ping’s net worth?
A: Forbes estimates Shu Ping’s net worth at US$2.4 billion as of February 2026.
Q: What is Haidilao known for?
A: Haidilao is known for its Sichuan-style hot pot, exceptional customer service, and innovative dining experience.
Q: Where is Haidilao originally from?
A: Haidilao originated in Jianyang, Sichuan, China.
Q: What is a family office?
A: A family office is a private wealth management company that serves ultra-high-net-worth individuals and families.
Q: What role does Shu Ping play in Haidilao?
A: Shu Ping is a co-founder of Haidilao and currently serves as Chairman of Super Hi, the company’s international division, and holds director positions in other key Haidilao entities.
Pro Tip: Looking for investment opportunities in the food and beverage sector? Keep an eye on Haidilao’s expansion plans and financial performance.
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