宗馥莉出走娃哈哈：国民品牌"分家"风波背后的商业博弈

Group 1 - The core event is the resignation of Zong Fuli from all management positions at Wahaha Group, retaining only the status of the second-largest shareholder, marking a significant shift in the Chinese beverage industry [2] - This resignation is part of a deeper power struggle, as Zong Fuli has completely relinquished her 29.4% equity decision-making power, positioning herself as a pure financial investor due to her disappointment with the trademark control of Wahaha [3] Group 2 - The trademark "Wahaha" has become a major obstacle for Zong Fuli's ambitions, as the current system requires unanimous consent from three major shareholders for trademark authorization, limiting her operational control [4] - Zong Fuli has registered multiple defensive trademarks, including "Wawa Xiaozong" and "Wawa Xiaohar," indicating her long-term strategy for brand independence [4] Group 3 - The separation reflects a typical property rights dilemma, where the separation of trademark ownership and operational systems creates structural contradictions, leading to a potential dual loss for both parties involved [5] - Zong Fuli retains production capabilities but loses the brand premium valued in the billions, while Wahaha Group keeps its brand but loses its production backbone [5] Group 4 - Uncertainties remain regarding the future leadership of Wahaha Group and whether other "Zong faction" board members will follow suit in resigning, which could significantly impact the situation [6] - The departure of the last family manager from the Zong era places the "Wahaha" brand at a crossroads, highlighting the need for a modern corporate governance system to avoid conflicts in business decisions [6]