宗馥莉另立门户，“娃小宗”取代娃哈哈消费者买账吗?

Core Insights - Wahaha Group plans to rebrand as "Wah Xiaozong" starting from the 2026 sales year due to legal risks associated with its current brand usage [2] - The complex shareholding structure of Wahaha Group, with significant stakes held by various parties, complicates brand usage and governance [2] - The rebranding effort is seen as a strategic move by Zong Fuli to navigate legal challenges and potential conflicts with major shareholders [3] Group 1 - The internal document reveals that the brand change is necessary to address historical issues and legal risks following the death of founder Zong Qinghou [2] - The current shareholding structure includes 46% held by Hangzhou Shangcheng Cultural Tourism Investment Holding Group, 29.4% by Zong Fuli, and 24.6% by the employee shareholding association, creating governance risks [2] - Zong Fuli has already registered multiple "Wah Xiaozong" trademarks in May 2025, indicating preparation for the brand transition [2] Group 2 - Zong Fuli faces challenges from family disputes and employee relations, having made significant changes to the management team since taking over [3] - The announcement of the new brand has met with public resistance, indicating potential difficulties in market acceptance and distributor education [3] - Analysts suggest that the rebranding may be part of a broader strategy to negotiate with state-owned shareholders regarding share transfers [3]