以下文章来源于华商韬略 ，作者华商韬略 华商韬略 . 聚焦标杆与热点、解构趋势与韬略 作者：金玉 来源：华商韬略 一场没有遗嘱的猝然离逝，引爆近年来中国商界最惨烈的家族内斗。 一年多前，杉杉控股总部迁入这里时，郑永刚曾满脸自豪地在总部入驻仪式上对外宣布："这栋 楼，承载着我自1989年创办杉杉以来的梦想——要在上海黄浦江边拥有一座总部大楼，在上海的 天际线上留下杉杉的标志。" 此时，谁也不会料到，不到一年，这座象征荣耀与权力的新总部大楼，即将要见证的不是惊喜和 奇迹，而是噩耗与噩梦。 短短两年间，内斗漩涡中的杉杉股份市值蒸发超200亿，最终滑向破产重整深渊。 6月，宁波中院一纸强执令落下：郑驹持有的最后181万股股票被悉数清空。这位曾被寄予厚望 的"90后接班人"，彻底告别父辈江山，更沦为失信被执行人。 继母周婷虽暂掌危局，却难挽狂澜，若无法在短期内引入战投资金，这座矗立了36年的民营王 国，恐难走出危局。 创始人郑永刚早就对企业传承风险有高度的警惕：" 企业是有周期的，如果固守不变，最后只能 败掉，只能白发人送黑发人 。"但他应该没有想到自己的企业会走入这样的周期。 01 家族内斗 2023年2月10日，上 ...

Core Viewpoint - The article discusses the dramatic internal family conflict within the Shanshan Group following the sudden death of its founder, Zheng Yonggang, which has led to significant financial decline and potential bankruptcy for the company [4][38]. Group 1: Company Background and Leadership Transition - Zheng Yonggang, the founder of Shanshan Group, passed away unexpectedly in February 2023, leaving no will or succession plan, which disrupted the existing power balance within the company [7][9]. - Zheng Yonggang's son, Zheng Ju, was initially appointed as chairman of the board shortly after his father's death, but this appointment was challenged by Zheng Yonggang's widow, Zhou Ting, leading to a public power struggle [10][14]. - Zhou Ting, leveraging her role as the legal guardian of their children, questioned the legitimacy of the board meeting and initiated legal actions to freeze key shares, escalating the family conflict into the public eye [15][16]. Group 2: Financial Performance and Challenges - Within two years, Shanshan Group's market value plummeted by over 20 billion yuan, and the company faced bankruptcy restructuring due to mounting debts and operational challenges [4][42]. - The company reported a revenue drop to 19 billion yuan in 2023, with a net profit decline to 760 million yuan, and projected further financial deterioration into 2024, including a first-ever annual loss since its listing [34][36]. - Shanshan's debt reached 12.6 billion yuan, with short-term debts constituting 95% of the total, indicating a critical cash flow crisis [42]. Group 3: Strategic Decisions and Future Outlook - Zheng Ju aimed to expand the company's global footprint with investments up to 1.28 billion euros (approximately 10.8 billion yuan) in Europe, while Zhou Ting advocated for a defensive strategy to stabilize cash flow [34][35]. - The internal conflict led to indecision and operational paralysis, further exacerbating the company's financial woes and contributing to a loss of confidence in leadership [36][37]. - By mid-2025, Shanshan Group was officially in bankruptcy restructuring, with its assets significantly diluted and control shifting away from the founding family [40][41].