每经热评丨当“娃小宗”遭遇“沪小娃” 命运多舛的娃哈哈该何去何从

Core Points - Shanghai Wahaha Drinking Water Co., Ltd. has launched a new brand of bottled water called "Hu Xiaowa" due to a trademark dispute with Wahaha Group, which has decided not to renew the trademark usage rights [1] - The conflict escalated when Wahaha Group demanded the transfer of sales rights for bottled water to Honghui Company, controlled by Zong Fuli, and subsequently reported Wahaha Shanghai Water Factory for trademark infringement, leading to a factory shutdown [1][2] - The ownership structure of Wahaha Group complicates the situation, as the major shareholder, Hangzhou City State-owned Assets, does not have absolute control, while Zong Fuli effectively controls decision-making [2] - Zong Fuli's strategy involves abandoning the Wahaha trademark and launching a new brand "Wawa Xiaozong" with a sales target of 30 billion yuan by 2026, which is approximately 80% of Wahaha Group's current scale [3] - The ongoing power struggle and market saturation pose significant challenges for both Zong Fuli and Hangzhou City State-owned Assets, leading to a situation where both parties may suffer losses [3][4] Company and Industry Summary - The trademark dispute highlights the risks associated with shared ownership structures, where unanimous consent is required for brand usage, leading to potential deadlock in decision-making [2][4] - The case serves as a reminder that ownership does not equate to control, emphasizing the importance of aligning control rights with ownership stakes to protect interests [4] - The beverage market's saturation and the negative impact of the ongoing conflict on Wahaha's market reputation could hinder the success of new product launches like "Wawa Xiaozong" [3][4]