娃哈哈是谁的？

Core Viewpoint - Wahaha is a complex and sophisticated system of interest creation and distribution, with its core assets and control intricately managed by the family of founder Zong Qinghou, and the transition of power to his daughter Zong Fuli brings new challenges and shifts in the balance of power within the company [6][62]. Group 1: Core Assets and Control - Wahaha's core assets include over 200 companies and 80 production bases, with an asset scale exceeding 40 billion and annual revenue nearing 70 billion [9]. - The main stakeholders in Wahaha can be categorized into three groups: local state-owned assets, Zong Qinghou and the core management team's holding platforms, and Zong Qinghou's family-managed entities [9]. - Wahaha Group holds the Wahaha trademark but has less than 51% voting rights in its subsidiaries, indicating a lack of decisive control over operations [11]. Group 2: Shareholding Structure and Distribution - The shareholding structure is complex, with Zong Qinghou utilizing offshore companies and holding platforms to maintain control while allowing for profit distribution among various stakeholders [39]. - The establishment of holding platforms, such as Hongsheng Group and Hongzhen Investment, has allowed Zong Qinghou to consolidate control over production and investment while distributing profits [16][32]. - The creation of Sanjie Investment, which operates outside Wahaha's core business, reflects a potential "family division" strategy, allowing Zong Fuli to manage Wahaha while providing resources to Du Jianying for external investments [34][36]. Group 3: Conflicts and Power Dynamics - The conflict between Zong Fuli and Du Jianying stems from the shifting power dynamics following Zong Qinghou's death, with Zong Fuli consolidating control and making significant personnel changes [62][64]. - Zong Fuli's leadership has led to increased salaries for employees but also significant layoffs among Wahaha's senior management, indicating a shift in the company's operational focus [64][65]. - The transition has resulted in a reduction of investment platforms and a reallocation of production orders from Du Jianying's companies to those controlled by Zong Fuli, further centralizing control [75][78].