Core Viewpoint - The internal family conflict within Wahaha has escalated, leading to the emergence of new brands that may threaten the company's market position, while the overall beverage industry remains highly competitive and challenging [2][3][5]. Group 1: Company Dynamics - After 142 days in charge, Zong Fuli resigned from her positions at Wahaha, with Xu Simin appointed as the new general manager, leaving the chairman position vacant [3]. - Concurrently, the family members have begun launching competing brands, such as "Wawa Xiaozong" and "Wawa Xiaozhi," indicating a significant internal conflict [4][20]. - The emergence of these new brands is seen as a direct challenge to Wahaha's market dominance, with family members leveraging the Wahaha name for their new products [4][22]. Group 2: Industry Challenges - The Chinese beverage market is described as a "graveyard-level" competitive environment, with an industry scale projected to exceed 1.3 trillion yuan in 2024, growing at 6.1% year-on-year [5]. - New beverage brands face a high failure rate, with 70% of new products not surviving beyond 12 months, and over 8,600 companies being deregistered annually [5]. - The importance of physical retail presence is emphasized, as 73% of beverage sales occur in offline settings, highlighting the critical role of iceboxes in driving sales [6][7]. Group 3: Brand Positioning and Market Strategy - The new brands lack the necessary distribution and marketing strategies to compete effectively with Wahaha, which has a significant advantage in terms of market penetration and brand recognition [19][21]. - Wahaha's strategy of securing exclusive shelf space in retail locations has been effective, with approximately 60,000 custom iceboxes deployed nationwide, ensuring high visibility for its products [19]. - The new brands, while attempting to capitalize on Wahaha's legacy, struggle with brand identity and consumer recognition, leading to a diluted market presence [15][22].