KWEICHOW MOUTAI(SH:600519) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-05 02:13Group 1: Company Control Dispute - The control dispute of the century-old shoe company Dousheng Mingren has intensified, with founder Wang Hai publicly severing ties with his son Wang Jun and daughter-in-law Xu Ying, accusing them of brand betrayal and power grabs [1][2] - The conflict traces back to 2022 when Xu Ying's company acquired a 56.96% stake in Dousheng Mingren, making her the largest shareholder, which led to Wang Hai losing absolute control [1] - In December 2025, Xu Ying announced the board's decision to remove Wang Hai from his positions, which Wang Hai later contested as illegal and invalid, leading to ongoing legal proceedings [2] Group 2: Company Operations and Market Conditions - Despite the internal conflict, Wang Jun appears to maintain control over Dousheng Mingren, as he and Xu Ying led a market visit to address operational issues in Nanyang, including the termination of agency rights for a struggling company [3] - The overall industry is facing challenging conditions, with reports of significant losses in the domestic sales sector, exemplified by Peak's chairman noting a loss of over 130 million yuan in the first seven months of 2025 [4][5]