追踪：宗馥莉豪赌“娃小宗”走上不归路

Core Points - The company has decided to change its brand name to "Wah Xiaozong" starting from the new sales year in 2026 to ensure compliance with brand usage following the founder's passing [1][3] - The internal document indicates a sense of urgency and determination in the decision-making process, as reflected in the phrase "have no choice" [3] Ownership Structure - The ownership of Hangzhou Wahaha Group is complex, with state-owned capital holding 46%, Zong Fuli holding 29.4%, and an employee stock ownership plan holding 24.6% [3] - The presence of state-owned capital complicates major decisions such as trademark usage, requiring consent from other stakeholders [3] Business Autonomy and Transformation - The "Hongsheng System" enterprises, controlled by Zong Fuli, aim to use the new brand to escape the constraints of equity disputes and trademark controversies, allowing for greater business autonomy and transformation [4] - The launch of "Wah Xiaozong" is expected to gain attention and recognition due to its similarity to "Wahaha," providing a strategic advantage [4] Challenges Ahead - The new brand faces significant challenges, including a potential public break with state-owned capital, which could lead to operational difficulties if support is lost [4] - There is a risk of consumer backlash against Zong Fuli, which may affect sales of "Wah Xiaozong" products [4] - Building market presence and trust for the new brand will require considerable time and effort amidst fierce competition [4]