Zhang is the chairman of Ningbo Deye Technology, a manufacturer of heat exchangers for refrigerators and air conditioners. The Ningbo, China-based company also makes solar inverters and dehumidifiers. The company began trading publicly in Shanghai in 2021 and reported revenue of 11.2 billion yuan ($1.6 billion) in 2024.
The majority of Zhang's fortune is derived from his stake in Ningbo Deye Technology, a manufacturer of electronic parts including solar inverters and heat exchangers. He owns about 59% of the company, according to its 2025 third-quarter report.
Zhang inherited his stake from his late mother, Mao Guqing, in 2017. He holds the shares directly and through three holding companies, including Aisirui Investment, Hengli Investment and Depai Investment. He's also credited with the shares held by his wife to reflect his status as chairman.
A spokesperson for the company didn't respond to a request for comment on the net worth calculation.
Zhang was born in 1952 in Ningbo city of Zhejiang province. He co-founded a mould factory with fellow locals in 1971 after graduating from high school. He became the director of an electronic appliances factory in 1984.
Ningbo Deye was founded by Zhang's late father, Zhang Daoyi, in 2000. Zhang became a director of Ningbo Deye in the same year.
The company was transferred to his mother, Mao Guqing, in 2014. He inherited it in 2017 after his mother's death.
Ningbo Deye began trading publicly in Shanghai through an initial public offering in April 2021.