娃哈哈经销商分化：月底局势或明朗

Core Viewpoint - The resignation of Zong Fuli has sparked widespread discussion, raising questions about the future development of Wahaha and its market dynamics, particularly regarding the relationship between Wahaha and the new brand "Wawa Xiaozong" [2][10]. Group 1: Market Reactions - Distributors have not received any business adjustment notifications following Zong Fuli's resignation, with many expressing a wait-and-see attitude towards potential changes [2][4]. - Some distributors prefer to continue selling Wahaha products, while others are uncertain about their future collaboration with Zong Fuli's new brand, "Wawa Xiaozong" [5][10]. - Retailers are skeptical about the market potential of "Wawa Xiaozong," citing the high competition and lack of differentiation in the beverage market, particularly for products like water and tea [5][10]. Group 2: Production and Supply Chain - The relationship between distributors and the production resources controlled by Hongsheng Group, which is closely tied to Zong Fuli, is crucial for future operations [6][8]. - Wahaha's distribution agreements involve multiple subsidiaries of Hongsheng Group, indicating a tightly integrated supply chain [7][8]. - Hongsheng Group operates 16 production bases and has a significant production capacity, which is essential for Wahaha's product supply [8]. Group 3: Strategic Implications - The unclear power dynamics and responsibilities within Wahaha have been exacerbated by Zong Fuli's resignation, leading to potential legal and operational challenges [9]. - Zong Fuli's decision to focus on Hongsheng and her new brand may be a strategic move to avoid complications associated with Wahaha, as her shareholding in Wahaha does not hinder her independent business pursuits [9][10]. - The future of "Wawa Xiaozong" as a competitor rather than a complementary brand raises concerns about market positioning and brand strategy [10].