Dong Wei (1930)

Dong Wei (David Wai Tung, born 1930), born in Shanghai, ancestral home Ningbo, Zhejiang, is the founder and former chairman of Zhongli Stock Company Ltd., Permanent Honorary President of the Hong Kong Securities Brokers Association, and Vice Chairman of the Hong Kong Shanghai General Chamber of Commerce.

Early life

Born in Shanghai with family roots in Ningbo, Zhejiang, Dong Wei lost his father at age 13 and began working at age 15 as an intern at Supengda Securities. In early 1952 he moved to Hong Kong to join Supengda’s Hong Kong branch. In 1968 he gained the trust of prominent clients including Jin Yong and Run Run Shaw. In 1969 he left Supengda and founded Zhongli Stock Company Ltd., attracting major clients such as Pao Yuk Kong of Orient Overseas, Zhao Cong Yan of Wahuang Shipping, and industrialist Li Da San.

In 1971 film mogul Run Run Shaw entrusted him with HK$40 million of personal investment. He managed the privatization and listing of Shaw Brothers and Television Broadcasts Limited. The 1973 Copac share scandal triggered a market crash from 1,774.96 points to 150 points; Zhongli suffered losses over HK$10 million due to heavy exposure.

1986–1987 market upheaval

During the 1987 market crash many investors suffered heavy losses, but Dong Wei’s long‑standing client credit arrangements shielded his firm.

Regulatory action

In 2000 the Securities and Futures Commission reprimanded him for failing to settle trades executed on 27–28 August 1998.

Later career

In 2009 during HSBC’s rights issue he advised investor Yu Peng Nian. In 2016 facing mainland acquisitions of local brokers, Zhongli began planning a sale. In 2017 he gave interviews on Now TV and Sina Finance, explaining that without any children interested in succession (his daughter Ai Li founded Food For Good), he sold the firm to mainland investors. On 23 October 2017 he appeared on Minzhong Finance’s YouTube series recalling anecdotes from the old trading floor.