《财经》年会2026：预测与战略暨2025全球财富管理论坛于2025年12月18-20日在北京举行。大成律 师事务所高级合伙人薛京表示，当前中国企业家家族传承的严峻困局，未来30年，将有80万亿私人财 富，主要为家族企业财富面临传承，而74%的民营企业和家族企业尚未完成传承规划。 专题：财经年会2026：预测与战略暨2025全球财富管理论坛 她表示，这一现状导致不少家族企业在传承过程中出现内外动荡，引发股权价值、家族声望与资产的双 重损失。 作为破解传承困局的核心工具，薛京表示，股权信托能够系统解决家族财富股权传承的六大支柱问题。 《财经》年会2026：预测与战略暨2025全球财富管理论坛于2025年12月18-20日在北京举行。大成律 师事务所高级合伙人薛京表示，当前中国企业家家族传承的严峻困局，未来30年，将有80万亿私人财 富，主要为家族企业财富面临传承，而74%的民营企业和家族企业尚未完成传承规划。 一，在顶层架构设计上，可实现所有权集中、控制权科学传承与受益权合理分配的有机统一，平衡血亲 与姻亲、婚内与婚外子女等多方利益。 二，在资产配置层面，家族企业利润可在信托架构内进行全球资产配置与市场化投资， ...

Core Viewpoint - The article discusses the ongoing legal battle over the inheritance of the late Zong Qinghou's wealth, highlighting the complexities of family dynamics and legal frameworks involved in the dispute over a $21 billion trust and a 29.4% stake in Wahaha Group [1][10]. Group 1: Legal Focus on Parent-Child Relationship and Inheritance - The three plaintiffs are seeking to establish their inheritance rights by proving their parent-child relationship with Zong Qinghou, which is essential for their claims under Chinese law [3][4]. - The plaintiffs have submitted birth certificates and requested DNA testing to confirm their relationship, facing challenges regarding the legality of evidence collection and potential counter-evidence from the defendant [3][4]. Group 2: Validity of the Will - Zong Qinghou's will from 2020 states that his overseas assets are to be inherited solely by his daughter, Zong Fuli, which could be contested due to the lack of independent witnesses [5][6]. - Legal experts indicate that the will may face challenges due to formal defects, as it lacks the required number of impartial witnesses and specific asset listings [5][6]. Group 3: Trust Commitment Evidence - The plaintiffs claim that Zong Qinghou promised to establish a $21 billion trust fund for them, but evidence suggests that only $18 billion is available, raising questions about the existence of the trust [6][7]. - The absence of formal documentation for the trust commitment may hinder the plaintiffs' case, as oral promises are generally not recognized under Hong Kong trust law [8][9]. Group 4: Family Legacy and Corporate Governance - The case reflects broader issues in family business succession and the need for effective wealth management systems, emphasizing that family trusts must be dynamically assessed to remain compliant and effective [9][10]. - The article suggests that the lack of institutional design in wealth transfer can lead to conflicts, highlighting the importance of balancing emotional ties and financial interests in family businesses [10].

Core Viewpoint - The article discusses the ongoing inheritance dispute within Wahaha Group following the death of its founder, Zong Qinghou, highlighting the complexities of family dynamics, legal battles, and corporate restructuring that may impact the company's future [3][15]. Group 1: Inheritance Dispute - Three individuals claiming to be Zong Qinghou's illegitimate children have filed lawsuits in Hong Kong and Hangzhou courts to claim a share of a $2.1 billion trust and 29.4% equity in Wahaha Group, valued at over 20 billion yuan [3][12]. - The legal proceedings hinge on establishing paternity, as non-marital children have equal inheritance rights under Chinese law, but must prove their relationship through DNA testing [4][12]. - The key figure in the inheritance dispute is Du Jianying, a former high-ranking executive at Wahaha, who is alleged to be the mother of the claimants and has significant control over various subsidiaries [5][10]. Group 2: Corporate Restructuring - Following Zong Qinghou's death, Zong Fuli has taken over as chairman and initiated significant reforms, including the closure of 18 production facilities, which has caused internal unrest among employees [6][7]. - The closures primarily affected factories not under the control of Zong Fuli's enterprise system, while new production lines were established in other regions, indicating a strategic shift in operations [8][10]. - The restructuring efforts have raised concerns among distributors, with reports of three provincial distributors halting orders due to fears over supply stability amid ownership changes [15]. Group 3: Broader Implications for Family Businesses - The inheritance battle at Wahaha reflects a larger trend in China's private sector, where over 80% of private enterprises are family-owned and are facing succession challenges as the first generation of entrepreneurs ages [11][15]. - Family trusts are increasingly favored as a wealth management tool to protect family assets from business risks, but they require careful planning and integration with other financial strategies to be effective [14]. - The outcome of the Wahaha inheritance case may set important precedents for wealth transfer and family business governance in China, particularly regarding the rights of non-marital children and the validity of cross-border trusts [15].