娃哈哈为何沦落至此？

Core Viewpoint - Wahaha has undergone significant changes and challenges under the leadership of Zong Fuli, contrasting sharply with the era of its founder, Zong Qinghou, whose departure has led to internal conflicts and strategic missteps [2][3][4]. Group 1: Leadership Transition - Zong Fuli, with an overseas education background, took over the leadership of Wahaha after Zong Qinghou's passing, initiating substantial reforms aimed at modernizing the company [5][6]. - The transition has faced strong internal resistance, highlighting the clash between traditional values and modern corporate governance [4][6]. Group 2: Internal Conflicts - The trademark transfer incident has emerged as a critical issue, revealing complex interests among various stakeholders and the potential for internal conflict [3][4]. - Key figures, such as Du Jianying and Zong Jichang, have significant influence within the company and have expressed major disagreements with Zong Fuli's strategic direction, exacerbating internal tensions [4][6]. Group 3: Market Position and Challenges - Despite achieving a revenue of 70 billion yuan in 2024, a 36.7% increase from the previous year, Wahaha faces ongoing operational challenges, including factory shutdowns and employee unrest [8][25]. - The competitive landscape has intensified, with emerging brands and external capital posing significant threats to Wahaha's market position [6][8]. Group 4: Governance Issues - Wahaha's governance structure reflects a complex interplay of state-owned and private interests, creating a governance deadlock that complicates decision-making [22][28]. - Zong Fuli's attempts to implement modern management practices have clashed with the company's traditional culture, leading to a disconnect between management and employees [24][30]. Group 5: Cultural Shift - The shift from a "family culture" under Zong Qinghou to a more rule-based management approach under Zong Fuli has alienated long-time employees and loyal distributors, threatening the brand's emotional connection with consumers [22][30]. - The ongoing reforms risk dismantling the foundational values that have historically defined Wahaha, raising concerns about the brand's future identity [29][30].