Former factory worker is crowned China’s richest woman, again

BEIJING – A factory worker-turned-entrepreneur who made her fortune producing glass screens for Apple’s iPhones has reclaimed the title of China’s richest woman on the back of her foray into high-end manufacturing.Zhou Qunfei, 56, founder and chairman of Lens Technology, is worth 127 billion yuan (S$24.4 billion) today. This is up 15% from a year ago, according to the Hurun Richest Women in China 2026 list released on Oct 28.She overtook Zhong Huijuan, founder of drugmaker Hansoh Pharmaceutical, whose estimated wealth stands at 124 billion yuan, to take the top spot for the second time. Zhou was first crowned China’s richest woman in 2015.Her status was evident at a state banquet on May 14 hosted by Chinese President Xi Jinping for US President Donald Trump at Beijing’s Great Hall of the People, where she was seated between then Apple chief executive Tim Cook and Tesla CEO Elon Musk. Zhou’s comeback reflects the changing face of China’s manufacturing sector, as companies like Lens Technology that once rode the smartphone boom seek opportunities in artificial intelligence, robotics and other emerging industries.Rags to richesBorn in 1970 in a village in the central province of Hunan, Zhou dropped out of school as a teenager and moved to Shenzhen, where she began working in a factory making glass for watches, earning about $1.20 a day.At the age of 23, she set up her own glass-processing workshop, where she taught herself more advanced screen-printing and specialised curved-glass printing techniques.A decade later, she co-founded Lens Technology, which would go on to become one of the world’s leading suppliers of a product that millions use every day – glass covers for smartphones.The company’s fortunes took off after it began supplying glass covers for Apple’s first iPhones in 2007. According to Lens Technology’s prospectus, the US tech giant accounted for nearly half of its main business revenue between 2011 and the first half of 2014.In March 2015, Lens Technology listed on the Shenzhen Stock Exchange’s ChiNext board, which was when Zhou became China’s richest woman for the first time.Her fortune subsequently took a hit as tensions between Washington and Beijing escalated. In 2018, amid the US-China trade war and concerns over Apple’s sales, Lens Technology’s share price plunged, wiping out much of Zhou’s wealth.In response, Lens Technology reduced its reliance on smartphones and expanded into electric vehicles, AI-related hardware and robotics.Although it remains exposed to fluctuations in demand for consumer electronics and a stronger renminbi that erodes the value of its US dollar earnings, it secured a second listing in Hong Kong in July 2025, raising capital to support its expansion.On the company’s strategy, Zhou said during the 2026 Pujiang Innovation Forum: “In the age of AI, what is most scarce isn’t just computing power and algorithms – it’s the systematic capacity for continuous boundary-pushing innovation.“This is precisely the core imperative for high-end manufacturing in the AI era: not isolated technological breakthroughs, but sustained, system-wide innovation.”Shifting to advanced manufacturingZhou’s rise comes as China’s entrepreneurs increasingly make their fortunes from technology and advanced manufacturing.Value-added output for high-tech manufacturing jumped 14.3% year on year in the first nine months of 2026 – 9 percentage points higher than broader industrial growth.According to the Hurun Research Institute, entrepreneurs in AI, semiconductors and robotics had seen their wealth surge, even as fortunes in consumer businesses, property and traditional manufacturing came under pressure.In 2026, a record 1,529 entrepreneurs with wealth exceeding 5 billion yuan made the Hurun Rich List, up 6.6% from 2025.Among the 50 richest women, 65% were self-made, with their combined wealth reaching a record 1.93 trillion yuan.But Zhou’s ranking also underscores the male dominance of China’s wealthiest ranks: Despite being the country’s richest woman, Zhou and her husband placed just 33rd on the overall Hurun Rich List.Topping that list is ByteDance founder Zhang Yiming, 43, who reclaimed the title of China’s richest person with an estimated fortune of 670 billion yuan.