中经记者 孙吉正 北京报道 8月1日，娃哈哈创始人宗庆后的三位子女宗继昌、宗婕莉、宗继盛状告宗庆后长女宗馥莉的诉讼于香港 高等法院开庭。 根据香港高等法院披露的诉讼文件显示，三名原告为Jacky Zong（宗继昌）、Jessie Jiele Zong（宗婕 莉）、Jerry Jisheng Zong（宗继盛），被告方中第一被告人为Kelly Fuli Zong（宗馥莉），第二被告人 为Jian Hao Ventures Limited（建浩创投有限公司）。 根据香港高等法院的诉讼书显示，确认建浩创投有限公司名下在香港上海汇丰银行有限公司（以下简 称"香港汇丰"）的银行账户中的资产，是宗继昌、宗婕莉、宗继盛三位原告享有受益权的信托财产，法 官下令被告宗馥莉不得从相关账户中提款或转账任何资产，禁制令持续有效至杭州市中级人民法院及浙 江省高级人民法院的诉讼有最终裁决为止。 根据三位原告宗继昌、宗婕莉、宗继盛提供的证据文件，2024年1月，宗庆后亲手手写指示给郭虹（音 译，代理律师），指示内容为上述三位原告于香港汇丰办理每人7亿美元的信托，并请香港公证处公 证。 宗庆后的"手写指示" 同时，原告出示的证据还包括一份委 ...

香港高等法院官网披露的案件信息。 | 4 | JACKY ZONG (宗继昌) | 1st Plaintiff | I | | --- | --- | --- | --- | | | JESSIE JIELI ZONG (宗婕莉) | 2nd Plaintiff | | | 1 | JERRY JISHENG ZONG (宗继盛) | 3rd Plaintiff | | | K | and | | K | | L | KELLY FULI ZONG (宗馥莉) | Ist Defendant | HL | | M | JIAN HAO VENTURES LIMITED | 2nd Defendant | M | | N | | | N | | 0 public) | Before: Deputy High Court Judge Gary CC Lam in Chambers (Open to | | 0 | | P | Date of Hearing: 11 July 2025 Date of Decision: 1 August 2025 | | P | | 0 | | | 0 | | R | DECIS ...

Core Viewpoint - The article discusses the complexities and implications of trust funds in the context of inheritance, using the recent family dispute of Wahaha founder Zong Qinghou as a case study. It emphasizes how trusts can transform inheritance into a different financial structure, potentially avoiding legal disputes over estate division. Group 1: Trusts and Inheritance - Trusts can prevent wealth from being classified as "inheritance," thus avoiding traditional inheritance disputes [9][18] - The essence of a trust is the separation of ownership, control, and income rights, allowing for a more secure transfer of wealth [20][22] - Trusts provide three layers of risk isolation: protecting the grantor's assets from personal liabilities, shielding beneficiaries from their own financial issues, and ensuring that the trust's assets are independent of the trustee's financial status [31][36][37] Group 2: Potential Issues with Trusts - Trusts can fail due to human factors, such as improper establishment or excessive control retained by the grantor, which can lead to legal challenges [39][44] - The legitimacy of a trust can be questioned if it is established with questionable funds or without proper consent from all parties involved [40][41] - The article raises doubts about the validity of the trust in the Zong family case, suggesting it may not have been legally established, as indicated by the lack of action against the trust institution [50][55] Group 3: Broader Implications - The article highlights the fragility of verbal agreements and the importance of clear legal definitions in financial arrangements to prevent disputes [59] - It points out the destructive nature of information asymmetry in business systems, emphasizing the need for transparency [60] - The blurring of personal and corporate assets can undermine the legitimacy of financial arrangements, making it crucial to maintain clear boundaries [61]

Group 1 - The inheritance dispute over Wahaha's assets is intensifying, with Zong Fuli's changing identities drawing public attention [1][2] - A notarized will indicates that Zong Fuli applied for inheritance rights to Zong Qinghou's estate on March 1, 2024 [1] - Zong Fuli currently holds Hong Kong identity, while her siblings, who are suing her, possess U.S. citizenship [2][3] Group 2 - The plaintiffs are seeking to freeze approximately $1.8 billion in assets held in a Hong Kong HSBC account and claim $2.1 billion in trust rights [2][3] - The trust was established with a total of $2.1 billion, intended for Zong Qinghou's three non-marital children, but only partially funded due to insufficient initial capital [3] - The current balance in the HSBC account is approximately $1.8 billion, which is expected to be supplemented by dividends from Wahaha Group [3] Group 3 - There are concerns regarding the legality of the $1.8 billion trust fund's transfer out of China, given strict foreign exchange controls [4][5] - The legitimacy of the trust could be challenged if the fund's transfer does not comply with regulations [5] - Wahaha Group is not solely a private enterprise, as it has significant stakes held by state-owned entities [5] Group 4 - The Zong family also possesses overseas properties, including a property in Hong Kong purchased before Zong Fuli renounced her U.S. citizenship [6][7] - Zong Fuli's property in Hong Kong was sold for $2.6 million after being acquired for $1.11 million [6][7] - The family has a history of real estate investments in the U.S., including a mansion in San Marino, Los Angeles [7]

Core Viewpoint - The inheritance of the Wahaha equity by Zong Fuli is confirmed through a notarized document, indicating her current Hong Kong identity and the marital status of her parents at the time of Zong Qinghou's death [1][2]. Summary by Sections - The notarized inheritance document from Hangzhou Oriental Notary Office reveals that Zong Fuli holds a key will notarization that allows her to inherit the Wahaha equity previously held by Zong Qinghou [1]. - On March 1, 2024, Zong Fuli applied for the inheritance notarization of Zong Qinghou's estate, providing 12 pieces of evidence, including her identification, Zong Qinghou's death and cremation certificates, the marriage certificate between Zong Qinghou and Shi Youzhen, and her own "Only Child Honor Certificate" [1].

Core Viewpoint - The article discusses the complex inheritance dispute surrounding the estate of Zong Qinghou, the founder of Wahaha Group, following his death, highlighting the intricate family dynamics and potential impacts on the company's future [7][8]. Group 1: Family Dynamics and Inheritance - Zong Qinghou had six children besides Zong Fuli, including three with his former partner Du Jianying and others with different women, indicating a complicated family structure [3][11][12]. - The inheritance battle involves three half-siblings of Zong Fuli who are suing for a share of the trust funds and the 29.4% stake in Wahaha Group held by Zong Fuli [8][32]. - The family dynamics are further complicated by Zong Qinghou's previous marriages and relationships, including a divorce from Zong Fuli's mother and a later marriage to Du Jianying [5][15]. Group 2: Legal Disputes and Trust Issues - The current legal disputes center around a family trust established by Zong Qinghou, with claims that Zong Fuli transferred $110 million from the trust, leading to demands for account freezes and compensation [23][32]. - Zong Fuli's legal team disputes the claims regarding the trust and asserts that Zong Qinghou's will designates her as the sole heir to certain assets [23][25]. - The outcome of these legal battles could significantly alter the control dynamics within Wahaha Group, affecting its future direction [33]. Group 3: Corporate Control and Shareholding Structure - Following Zong Qinghou's death, Zong Fuli took over Wahaha Group but faces internal disputes that have led to a shift in employee support towards Du Jianying, who is seen as a more stable leader [29][30]. - The shareholding structure of Wahaha Group includes 46% held by the local government, 29.4% inherited by Zong Fuli, and 24.6% held by employees, creating a potential battleground for control [30][31]. - The ongoing disputes over share repurchase agreements and employee stock ownership could further complicate the power dynamics within the company [31][32].

Core Viewpoint - The article discusses the complex family dynamics and inheritance disputes surrounding the late Zong Qinghou, founder of Wahaha Group, revealing that he had multiple children beyond the well-known Zong Fuli, which has led to legal battles over his estate and company shares [3][4][5]. Group 1: Family Structure and Children - Zong Qinghou had a total of six children, including three with his former partner Du Jianying and others with different women, which contradicts previous public perceptions [1][5][6]. - The children with Du Jianying are Zong Jichang (born 1996), Zong Jieli (born 1998), and Zong Jisheng, whose birth year is unclear [1][4]. - There are claims of additional children, including one born to an employee who later moved to the United States, and another child born in 2017 to a younger employee [1][6]. Group 2: Marital History - Zong Qinghou divorced his first wife, Shi Youzhen, around the year 2000 and later married Du Jianying around 2005, but they also divorced [2][8]. - The relationship dynamics between Zong Qinghou, his children, and their mothers have been complicated, with Zong Fuli reportedly having a strained relationship with Du Jianying [8][12]. Group 3: Inheritance Disputes - Following Zong Qinghou's death, Zong Fuli is facing lawsuits from her half-siblings who are demanding a share of the family trust and the 29.4% stake in Wahaha Group that Zong Fuli inherited [3][13][19]. - The trust established by Zong Qinghou reportedly has a balance of approximately $1.8 billion, with disputes over withdrawals and the execution of his will [13][19]. - The legal battles are expected to significantly impact the control and future direction of Wahaha Group, as various factions vie for influence [19]. Group 4: Corporate Governance and Shareholding - Wahaha Group's ownership structure includes 46% held by the local government, 29.4% by Zong Fuli, and 24.6% by employees, creating a complex landscape for potential power shifts [17][18]. - There are ongoing disputes regarding employee share buybacks, which could affect the distribution of power within the company and the potential for Du Jianying to gain control [18][19]. - The outcome of these legal disputes and the employee stock ownership issues will be crucial in determining the future governance of Wahaha Group [19].

Core Viewpoint - The court ruling in Zhangping City, Fujian Province, establishes that adopted children should have equal inheritance rights as biological children in family property succession cases [1][2]. Group 1: Inheritance Rights - The court confirmed that according to Article 1127 of the Civil Code, inheritance is divided into two orders, with the first order including spouses, children (biological, non-marital, and adopted) [2]. - In this case, both the biological son and the adopted son are considered first-order heirs, thus entitled to equal shares of the inheritance [2]. Group 2: Case Details - The case involved a dispute over a compensation amount of 40,000 yuan related to a property that was built by the deceased parents [1]. - The adopted son argued for equal rights to the compensation, while the biological son claimed it should belong solely to him [1]. Group 3: Legal Implications - The ruling emphasizes the importance of having a legally valid adoption relationship for inheritance rights to be recognized [3]. - It is advised that individuals involved in inheritance disputes maintain proper documentation of adoption and caregiving to protect their legal rights [3].

Core Viewpoint - The ongoing legal battle involving Zong Fuli, the current head of Wahaha Group, and her half-siblings over inheritance rights and trust fund claims poses a significant threat to her control of the company [2][3][4]. Group 1: Legal Disputes - Zong Fuli is being sued by three half-siblings, Zong Jichang, Zong Jieli, and Zong Jisheng, in Hong Kong court, seeking a court order to prevent her from disposing of assets in a HSBC bank account and claiming a total of $2.1 billion in trust fund rights [3][4]. - The plaintiffs have also filed a lawsuit in Hangzhou to confirm their inheritance rights over Zong Fuli's 29.4% stake in Wahaha Group [6][7]. - The original trust was established by the late Zong Qinghou to manage his substantial assets, including shares in Wahaha Group, with Zong Fuli believed to be the primary beneficiary [4][5]. Group 2: Financial Claims - The plaintiffs claim that Zong Qinghou instructed his staff to set up a trust at HSBC and later requested the conversion of RMB to USD when funds were insufficient [5]. - As of early 2024, the HSBC account balance was approximately $1.8 billion, with legal documents indicating that around $1.1 million had been transferred out of the account by May 2024 [5]. - The plaintiffs are requesting the court to freeze the HSBC account and demand compensation for losses incurred due to the alleged transfer of funds [5]. Group 3: Corporate Changes and Challenges - Since taking over in 2024, Zong Fuli has implemented significant reforms within Wahaha Group, including a major overhaul of the executive team and restructuring of sales and production operations [8]. - The company has closed 18 production lines across various locations, while simultaneously expanding the capacity of the "Hongsheng" companies under her control [8][9]. - Recent controversies, including product quality issues and employee dissatisfaction, have raised questions about the stability of the company under Zong Fuli's leadership [11][13].

Core Points - The inheritance dispute involving Wahaha Group founder Zong Qinghou's family has brought to light significant family conflicts over a total estate valued at 34 billion RMB [1][7] - The legal battle includes claims for the freezing of 1.8 billion USD in assets and the inheritance of 29.4% of Wahaha Group's shares, which are estimated to be worth over 20 billion RMB [1][2] Inheritance Dispute - The plaintiffs, claiming to be Zong Qinghou's non-marital children, have filed lawsuits in Hong Kong and Hangzhou, seeking to secure their inheritance rights [1][4] - The total disputed amount includes 21 billion USD in trust rights promised by Zong Qinghou and the value of the shares in Wahaha Group [1][2] Trust Controversy - The plaintiffs allege that Zong Qinghou established three independent trusts in 2003, each worth 700 million USD, for their benefit, but funds have been allegedly mismanaged by Zong's daughter, Zong Fuli [2][4] - Zong Fuli's team argues that the funds in question were intended for business expansion and that the transfer of 1.1 million USD was legitimate [2][4] Family Dynamics - The emergence of non-marital children has complicated the perception of Zong Qinghou's family, traditionally viewed as a single unit led by Zong Fuli [3][7] - Zong Qinghou's will reportedly favored Zong Fuli, stating that all overseas assets would be inherited solely by her, raising questions about the legitimacy of the will due to the absence of family member signatures [3][4] Legal Proceedings - The Hong Kong court is set to hear the case in September 2025, focusing on the validity of the trust agreements and the flow of funds [4][7] - The Hangzhou court is also involved in determining the inheritance rights concerning the shares of Wahaha Group, with evidence exchange currently ongoing [4][6] Market Impact - The ongoing legal disputes have led to a loss of confidence among distributors, with some halting orders due to concerns over potential changes in ownership structure [5][6] - Competitors are seizing the opportunity to capture market share amid the uncertainty surrounding Wahaha Group's leadership [5][6] Lessons for Family Governance - The inheritance battle highlights the challenges faced by Chinese entrepreneurs in managing family relationships and the importance of formalized estate planning [6][7] - Experts suggest that establishing a family trust could have mitigated the current disputes, emphasizing the need for better understanding and application of trust laws in China [6][7]