After Fosun International completed the takeover of the Championship club, it was soon announced that Zenga would replace Kenny Jackett, but the Italian only lasted 17 games after winning just four times in the league.
Paul Lambert replaced Zenga in November and moved the club 11 points clear of the relegation zone, and Shi has admitted that a mistake was made in bringing Zenga to Molineux.
Shi told the club's official website: "The only thing we can do better is the coach in the summer. On transfers I think we did quite well.
"I think the coach at the beginning was not the right one. Maybe he would be a good coach for another club, because it's about the match. He didn't match us so we have to change. It's a learning curve for me."
Shi has indicated that he has confidence in Lambert after the team's recent run of five wins and a draw from six matches.