国有股东和职工权益涉嫌受损，娃哈哈“体外”迷局待解

Group 1 - The ongoing turmoil at Wahaha Group has negatively impacted the brand following the death of its founder, Zong Qinghou, with his daughter, Zong Fuli, now leading the company [2] - Wahaha Group acknowledged its contract with Jinmailang for OEM production of purified water but terminated the partnership due to quality issues in certain batches [4][5] - Over 15 factories within the Wahaha system have reportedly ceased operations since Zong Qinghou's passing, leading to employee rights protection incidents [5][6] Group 2 - Wahaha Group has undergone significant management changes, with many executives replaced by those from Hongsheng Group, which is controlled by Zong Fuli [6] - Employees have been pressured to sign new contracts with Hongsheng Group, with warnings of reduced bonuses and potential salary cuts if they refuse [7] - Wahaha Group claims these changes are part of a necessary internal compliance reform and management optimization [7] Group 3 - The Wahaha empire has expanded beyond the original Wahaha Group, with numerous companies operating independently of state ownership [8][9] - Following its restructuring in 1999, Wahaha Group became a state-controlled enterprise, with state ownership at 46%, while management and employee shares exceeded state control [8][9] - Many of these independent companies were established by management and employee stockholding associations, leading to concerns about potential state asset loss [9] Group 4 - Hongsheng Group, established in 2003, has become a significant player in the production of Wahaha products, with a substantial portion of Wahaha's production capacity allocated to it [10] - As of 2022, the total assets of the Wahaha system reached 37.047 billion, while Wahaha Group's assets were only 5.807 billion, indicating a disparity in financial performance [11][12][13] Group 5 - There are allegations of profit shifting to external companies, with sales profits from Wahaha products being funneled to these entities, which are not linked to state ownership [15] - A significant portion of profits from bottled water sales has been redirected to Hongsheng Group, impacting Wahaha Group's profitability [16] Group 6 - Attempts to transfer the Wahaha trademark to a company controlled by Zong Fuli were reportedly made without proper governance procedures, raising concerns about the legality of such actions [19] - The state-owned shareholder's rights have been compromised, with no actual receipt of the state equity transfer payment during the restructuring process [20][21][22] Group 7 - The employee stockholding rights have also been called into question, particularly regarding the 2018 buyback plan that allegedly violated procedural norms and lacked transparency [25][26][27]