娃哈哈到底是谁的？

Core Viewpoint - Wahaha is a complex and sophisticated system of asset management and profit distribution, with a significant focus on the intricate ownership structure and the control exerted by the founding family, particularly after the transition of leadership from Zong Qinghou to his daughter Zong Fuli [5][41][49]. Group 1: Core Assets and Control - Wahaha's core assets include its brand and various subsidiaries, with the ownership structure primarily divided among local state-owned enterprises, Zong Qinghou and the management team, and the Zong family [5][26]. - The Wahaha Group holds the trademark but has less than 51% ownership in its subsidiaries, indicating a lack of decisive voting power over operations [7][10]. - The management of Wahaha's production, sales, and investments is largely under the control of Zong Qinghou's family through various investment platforms [10][12]. Group 2: Ownership Structure and Profit Distribution - The ownership structure is characterized by multiple layers of offshore companies and investment platforms, allowing Zong Qinghou to maintain control while distributing profits among various stakeholders [26][16]. - The main investment platforms include Hongzheng Investment, which focuses on sales and investments, and Hongsheng Group, which is responsible for production [11][18]. - The establishment of Sanjie Investment, controlled by Du Jianying, represents a significant aspect of the ownership structure, although it operates largely outside of Wahaha's core business [24][47]. Group 3: Leadership Transition and Its Implications - Following Zong Qinghou's passing, Zong Fuli's leadership has disrupted the existing balance, leading to significant personnel changes and a shift in profit distribution dynamics [41][43]. - Zong Fuli has increased salaries for frontline workers and sales personnel while consolidating power within Hongsheng Group, resulting in the dismissal of many senior executives from Wahaha [43][44]. - The restructuring has also involved a reduction in the number of investment entities and a shift of assets towards Zong Fuli's control, indicating a centralization of power and profit distribution [45][48].