Core Insights - The recent developments surrounding Wahaha indicate a significant shift, with Zong Fuli returning to work as the president of Hongsheng Beverage Group, despite previously resigning from her roles at Wahaha Group [1][3] - Hongsheng Group has confirmed that it will continue to use the "Wahaha" brand until 2026, as communicated to distributors [1][3] - Zong Fuli's independent brand "Wawa Xiaozong" is currently on hold, while the "Wahaha" brand remains active [1] Group 1: Management Changes - Zong Fuli submitted her resignation to the board on July 24, 2024, citing questions from local government and shareholders regarding her management after the passing of Zong Qinghou [3] - A week later, on July 31, Wahaha announced that Zong Fuli would continue her management duties, but she resigned again on October 10, 2025, with no indication of returning this time [3] - The recent resignation is reportedly linked to issues with trademark usage compliance, leading her to focus on her independent brand [3][7] Group 2: Trademark and Brand Strategy - Hongsheng Beverage Group has filed numerous trademark applications for "Wawa Xiaozong" and related brands, covering various product categories [4] - The "Wawa Xiaozong" brand has launched its first product, "Nourishing Oolong Sugar-Free Tea," priced at 4 yuan, distinguishing itself from traditional Wahaha products [5] - The trademark transfer of "Wahaha" has faced challenges, as the group stated that any usage requires unanimous consent from all shareholders, complicating Zong Fuli's plans [7][8] Group 3: Historical Context and Market Implications - The ongoing trademark disputes echo past conflicts, notably the "Dava War" with Danone, which highlighted the complexities of brand ownership and control within the Wahaha ecosystem [8] - The current struggle over brand usage rights is not just a business dispute but also impacts industry dynamics and consumer sentiment, given Wahaha's established market presence [8]

Core Points - Zhejiang Wahaha Company has regained the bottled water sales rights after the resignation news of Zong Fuli [1] - The transfer of bottled water sales rights to Hangzhou Xun'er City Trading Co., Ltd. was initiated by Zong Fuli in 2024 and implemented in March 2025 [1] - The bottled water business is primarily managed by Zhejiang Wahaha Drinking Water Co., Ltd. and Shanghai Wahaha Drinking Water Co., Ltd. [1][2] Group 1 - Zong Fuli transferred the bottled water sales rights to Hangzhou Xun'er City Trading Co., Ltd., which is part of the "Hongsheng System" [1] - The transfer was executed without a purchase agreement with distributors, leading to a significant operational shift [1] - Hangzhou Xun'er City Trading Co., Ltd. was established in 2022 and is fully controlled by Hangzhou Hongchen Marketing Co., Ltd. [1] Group 2 - Shanghai Wahaha Drinking Water Co., Ltd. launched the "Hu Xiaowa" brand bottled water, indicating a shift from the Wahaha brand due to brand expiration issues [2] - The Wahaha brand was required to cease usage by Shanghai Wahaha Drinking Water Co., Ltd. as of July this year [2] - The Wahaha trademark transfer to Hangzhou Wahaha Food Co., Ltd. has caused public controversy, as it requires unanimous consent from all shareholders [3]

Core Viewpoint - The resignation of Zong Fuli from Wahaha Group indicates significant internal conflicts and strategic shifts within the company, particularly regarding brand management and ownership issues [4][10][30]. Group 1: Resignation and Management Changes - Zong Fuli officially resigned from all positions at Wahaha Group on September 12, 2025, with the company appointing Xu Simin as the new general manager, although the chairman position remains vacant [4][10]. - Internal analysis suggests that Xu Simin's close relationship with Zong Fuli implies that actual control may still lie with Zong Fuli despite her resignation [4][10]. - Zong Fuli's resignation is speculated to be a strategic move to distance herself from potential legal issues related to brand management and to possibly negotiate better terms with major stakeholders [4][10][21]. Group 2: Brand Transition to "Wawa Xiaozong" - Zong Fuli is shifting focus to her new brand "Wawa Xiaozong," which has already registered its official social media presence [7][8]. - The decision to create a new brand stems from compliance issues with the use of the "Wahaha" trademark, which has been embroiled in legal complexities and ownership disputes [21][22]. - The new brand "Wawa Xiaozong" is set to replace "Wahaha" starting from the 2026 sales year, as the company aims to mitigate legal risks associated with the existing brand [16][21]. Group 3: Family Dynamics and Market Competition - The internal family dynamics have intensified, with Zong Fuli's relatives also launching competing brands, such as "Wawa Xiaozhi" and "Hu Xiaozong," indicating a fragmented family business landscape [26][30]. - Analysts express skepticism about the success of Zong Fuli's new brand in the highly competitive beverage market, suggesting that the established "Wahaha" brand holds significant value that "Wawa Xiaozong" may struggle to replicate [24][25]. - The ongoing family disputes and the involvement of various relatives in launching competing brands could further complicate Wahaha's market position and brand identity [30][31].

Core Viewpoint - The resignation of Zong Fuli from her positions at Wahaha Group marks a significant shift in the company's leadership and is intertwined with ongoing disputes regarding trademark rights and corporate governance [1][2][17]. Group 1: Leadership Changes - Zong Fuli resigned from her roles as legal representative, director, and chairman of Wahaha Group on September 12, following internal procedures [1]. - Xu Simin, a key member of Hongsheng Group, has taken over as the general manager of Wahaha Group [1]. - Despite her resignation, Zong Fuli remains the second-largest shareholder with a 29.4% stake in the company [2][12]. Group 2: Trademark Disputes - The resignation is linked to ongoing disputes over the use of the "Wahaha" trademark, which has historical complexities stemming from a partnership with Danone [3][5]. - Wahaha Group has been attempting to transfer trademark rights to its subsidiary, but has faced legal and procedural challenges [7][8]. - A recent internal document indicated that due to unresolved historical issues, the use of the "Wahaha" trademark requires unanimous consent from all shareholders [8]. Group 3: Corporate Governance Issues - The control over Wahaha Group has been contested, with Zong Fuli previously filing complaints against local courts regarding the slow progress of shareholder disputes [11]. - The company is currently entangled in legal battles concerning stock buyback agreements and the rights of former employees [13][14]. - Zong Fuli's management approach has shifted towards addressing historical issues and compliance, leading to the potential rebranding of the company under "Wawa Xiaozong" starting in 2026 [16].

Core Viewpoint - Shanghai Wahaha Drinking Water Co., Ltd. has launched a new brand "Hu Xiao Wa" for bottled water due to brand authorization disputes and operational challenges stemming from the ongoing inheritance dispute involving the founder's family [1][7]. Company Overview - Shanghai Wahaha Drinking Water Co., Ltd. has been operational for over 20 years without incurring losses, with last year's revenue exceeding 120 million yuan, ranking among the top three in Shanghai's bottled water market [3][7]. - The company is a subsidiary of Zhejiang Wahaha Industrial Co., Ltd., which holds a 70% stake, while internal employees own approximately 31.5% and social capital holds about 25.5% [3][4]. Brand and Trademark Issues - The "Wahaha" trademarks authorized to Shanghai Wahaha expired in 2021 and 2023, leading to the company's inability to continue using the "Wahaha" brand [7][12]. - Following the expiration, Wahaha Group requested the cessation of the use of the "Wahaha" brand, and the company has since faced challenges in communication with the group's leadership [6][12]. Legal and Operational Challenges - The Hong Kong High Court recently rejected an appeal by the defendants represented by Zong Fuli, adding to the operational difficulties faced by Shanghai Wahaha [1]. - The company has been under scrutiny from Wahaha Group's shareholders, who have expressed disapproval of the current situation and have even suggested bankruptcy proceedings [6][12]. Future Brand Strategy - Due to the trademark issues, both Zong Fuli and the macro victory group are reportedly preparing to adopt a new brand, "Wa Xiao Zong," starting from the 2026 sales year [12][13]. - The internal documents from the macro victory group indicate a strategic shift to ensure compliance and address historical legacy issues related to the brand [12][13].

Core Viewpoint - The recent launch of the "沪小娃" brand by Shanghai Wahaha Drinking Water Co., Ltd. is a response to brand authorization disputes and operational challenges faced by the company, which has historically been profitable but is now navigating significant legal and branding issues [1][2][3]. Company Overview - Shanghai Wahaha Drinking Water Co., Ltd. has been operational for over 20 years without incurring losses, generating over 120 million yuan in revenue last year, and ranking among the top three in Shanghai's bottled water market [7][8]. - The company is a subsidiary of Zhejiang Wahaha Industry Co., Ltd., which holds a 70% stake, while internal employees own approximately 30% [3][5]. Brand and Legal Issues - The "娃哈哈" brand authorization for Shanghai Wahaha has expired, leading to the company's decision to create a new brand, "沪小娃," as a means of survival [2][7]. - The company has faced legal challenges, including a recent court ruling against its representative, which complicates its operational stability [2][6]. - The Wahaha Group has initiated actions to stop the use of the "娃哈哈" brand, citing expired trademarks and potential trademark infringement [7][12]. Future Brand Strategy - There are indications that the Wahaha Group may transition to a new brand, "娃小宗," starting in 2026, as part of a broader strategy to address historical brand ownership issues [13][14][16]. - The new brand strategy is reportedly in response to the ongoing legal and operational challenges faced by the company, with the aim of maintaining market presence and compliance [14][16].

Core Viewpoint - The launch of the new brand "沪小娃" by Shanghai Wahaha Drinking Water Co., Ltd. is a response to brand authorization disputes and operational challenges faced by the company, which has historically been profitable but is now navigating significant legal and branding issues [1][8]. Company Overview - Shanghai Wahaha Drinking Water Co., Ltd. has been operational for over 20 years without incurring losses, with revenue exceeding 1.2 billion RMB last year, ranking among the top three in the Shanghai bottled water market [3][7]. - The company is a subsidiary of Zhejiang Wahaha Industry Co., Ltd., which holds a 70% stake, while internal employees own approximately 31.5% and social capital holds about 25.5% [4][6]. Brand and Legal Issues - The "Wahaha" brand authorization for Shanghai Wahaha expired in 2021 and 2023, leading to the company's inability to continue using the brand, prompting the creation of the new brand "沪小娃" [8][12]. - The company has faced legal challenges, including a recent court ruling against the appeal made by the representatives of the founder's family regarding inheritance disputes, which has added to the operational difficulties [1][7]. Future Prospects - The new brand "沪小娃" aims to sustain the company's operations amidst the ongoing brand disputes, although the transition to a new brand is expected to be challenging and time-consuming [1][8]. - There are indications that the parent company, Wahaha Group, is also preparing to transition to a new brand "娃小宗" due to similar branding issues, which may further complicate the market landscape for Wahaha products [9][14].

Core Viewpoint - Wahaha is currently facing significant controversy due to product outsourcing to Jianmailang, trademark transfer issues, and shareholder disputes, which have raised public concern and scrutiny [2][4]. Trademark Dispute - The trademark transfer from "Hangzhou Wahaha Group Co., Ltd." to "Hangzhou Wahaha Food Co., Ltd." is ongoing, with uncertainty surrounding the registration process [2][4]. - The two main stakeholders in the trademark dispute are Zong Fuli and the Shangcheng District Cultural and Tourism Group, with negotiations for the transfer of 46% shares ongoing but without an agreed price [3][4]. - Employees have indicated that the trademark transfer agreement has been deemed terminated by the Hangzhou Intermediate People's Court, affirming that the trademark belongs to the state-controlled Hangzhou Wahaha Group [4][6]. Historical Context - The Wahaha trademark dispute has been a complex issue for nearly thirty years, involving multiple corporate restructuring events and historical disputes with foreign partners [6][8]. - The company was originally fully owned by the Shangcheng District State-owned Assets Supervision and Administration Commission, but underwent changes in ownership structure in 1999, leading to the current shareholder composition [6][7]. - Previous attempts to transfer the trademark to a joint venture with Danone were unsuccessful due to lack of approval from the State Trademark Bureau, resulting in ongoing disputes [6][7]. Future Implications - Zong Fuli's indication of launching a new brand suggests a strategic pivot in response to the trademark challenges, although this may involve significant costs and risks related to consumer perception and distribution networks [8][9]. - The complexity of Wahaha's ownership structure and the historical use of the trademark by various entities complicate any potential transition to new ownership or management [8][9].