Li Zhaonan

Li Zhaonan, born in China, holds the status of a mainland Chinese resident. Regarding his family background, publicly available information shows that his elder brother is the founder of Hong Kong Hengliang Zhaoye Real Estate Co., Ltd., and also serves as an Honorary President of the Hong Kong Shunde Federation of Associations.

In terms of his career, Li Zhaonan established Guangzhou Hengde Trading Development Co., Ltd. in 1993 together with his wife, and through this company, he invested in China Ping An Insurance (Group) Company of China, Ltd. Guangzhou Hengde Trading is mainly controlled by Li Zhaonan, who owns 90% of the company's shares. His shareholding includes purchasing restricted shares of Ping An Insurance, which enabled him to achieve rapid wealth growth following Ping An's listing. Nominally, Li Zhaonan controls approximately 200 million A-shares of Ping An Insurance, including about 100 million shares purchased from other Chinese shareholders in 2002. Ping An Insurance went public in 2004 in Hong Kong, with an issue price of HKD 10.33 per share, and when converted based on the A-share market price, his shareholdings once had a book value approaching 15 billion RMB.

Before around 2007, due to holding a significant amount of Ping An Insurance shares, Li Zhaonan was an important figure on China's wealthy lists. In 2007, he ranked 34th on the Hurun Rich List with an estimated net worth of 16 billion RMB. That same year, he was third on the Hurun Financial Rich List, with an estimated wealth of about 16 billion RMB. In 2008, his wealth further increased, ranking second on the Hurun Financial Rich List with an estimated net worth of approximately 8.9 billion RMB. That year, he paid about 1.586 billion RMB in taxes through Guangzhou Hengde Trading, making him one of the top taxpayers in Guangdong.

In the following years, Li Zhaonan’s wealth rankings among China's rich fluctuated. In 2009, he ranked 72nd on the Clearwater Bay Hurun Rich List; in 2010, 118th; in 2011, 58th; in 2012, 102nd; and in 2013, 151st. Despite these changes in ranking, he has generally been regarded as a low-profile billionaire.

In March 2008, Li Zhaonan reduced his holdings of Ping An Insurance shares by over 80 million shares, reflecting adjustments in his asset allocation. Additionally, Li Zhaonan has stated that his investment decisions regarding Ping An Insurance were primarily made by his family member Li Zhaoji, while he himself was responsible for the "nominal" holding.

Regarding his personal life, available information indicates that Li Zhaonan has long resided in Shunde, Guangdong, leading a relatively low-profile life. His elder brother, Li Zhaoji, is also a well-known businessman in Hong Kong. In the public eye, Li Zhaonan is often referred to as "Uncle Wu," but few details about his personal life have been publicly disclosed.