娃哈哈经销商分化：月底局势或明朗

Core Viewpoint - The resignation of Zong Fuli has sparked significant discussion regarding the future development of Wahaha, with distributors and retailers adopting a wait-and-see approach towards potential changes [1][2]. Group 1: Distributor and Retailer Reactions - Distributors have not received any business adjustment notifications following Zong Fuli's resignation, and many remain cautious about the implications for Wahaha's future [1][2]. - Some distributors express a preference for continuing to support the Zong family enterprises, indicating that the distinction between Wahaha and "Wawa Zong" is not critical for them [1]. - Retailers are skeptical about the market potential for "Wawa Zong" products, particularly if they are similar to existing offerings in the highly competitive beverage market [2]. Group 2: Production and Supply Chain Dynamics - The relationship between distributors and the production resources controlled by Hongsheng Group, which Zong Fuli oversees, is crucial for Wahaha's operational balance [3][4]. - Distributors primarily make payments to Zhejiang Wahaha Food and Beverage Marketing Co., indicating a tight integration within Wahaha's commercial ecosystem [3]. - Hongsheng Group operates 16 production bases and has a significant production capacity, which is essential for Wahaha's supply chain [4]. Group 3: Corporate Structure and Future Challenges - Wahaha's ownership structure is complex, with the group holding minority stakes in several production companies, which may limit its operational flexibility [5]. - Zong Fuli's resignation may allow her to focus on Hongsheng and new brands, potentially alleviating some of the legal and operational challenges faced by Wahaha [5]. - The future of "Wawa Zong" as a competitive entity rather than a mere extension of the family business raises questions about market positioning and brand strategy [7].