以下文章来源于上市公司企业家交流中心 ，作者上企中心 上市公司企业家交流中心 . 上市公司企业家交流中心是旨在促进上市公司产业协同、建立与央国企的产业联动、助力上市公司与地方政府的招商落地、加强上市公司与部委机关的政 策交流、推动上市公司与科研院所的科研合作、提升企业家身心健康为核心的"产、学、研、娱、康"的综合赋能平台。 作者 | 上市公司企业家交流中心许长忠、袁睿方子 导语：唯有通过治理架构的系统性重塑，才能实现从 "家族世袭" 到 "制度传承" 的跨越，为百年企业筑牢根基。 民营经济已成为推动我国高质量发展的核心动力，而改革开放后崛起的民营企业，正集体面临一场关乎存续的 "传承大考"。 传 承困局： 从 "子承父业" 到 "管理失序" 的现实挑战 "父亲打下的江山，我接不住"，这是不少民企二代的共同心声。 美特斯邦威创始人周成建之子胡佳佳接班 7 年，企业累计亏损超 32 亿元，最终周成建不得不重新出山；桃李面包在继承人吴学亮接手后，净利 润连续两年下滑；娃哈哈传承话题近期备受关注，宗馥莉曾以激进改革试图颠覆父辈 "家文化" 体系，却因缺乏利益平衡能力引发老员工抵触、 经销商抵制，叠加股权结构制约，改革 ...

Core Viewpoint - The departure of Zong Fuli from Wahaha Group marks a significant shift in the Chinese beverage industry, as she aims to independently operate her new brand "Wah Xiaozong" after just 13 months as chairman [1] Group 1: Resignation and Brand Strategy - Zong Fuli's resignation was not sudden; it was influenced by complex equity structures and brand control issues following the death of Zong Qinghou, leading to a three-way balance of power among shareholders [2] - The "Wah Xiaozong" brand will be fully adopted by seven companies under the Hongsheng Group starting in 2026 due to brand compliance issues, indicating a premeditated strategy to establish a new brand [2] Group 2: Inheritance Challenges - Zong Fuli's departure represents the culmination of nearly two decades of succession struggles, highlighting a clash between her Western management approach and the traditional "family culture" left by Zong Qinghou [4] - Her push for digital transformation and the elimination of small distributors faced resistance from long-standing employees and concerns from state-owned shareholders, leading to internal conflicts [4] Group 3: Brand Development and Market Positioning - "Wah Xiaozong" has already shown potential with its first product, a sugar-free oolong tea, targeting health-conscious consumers and avoiding the sugary beverage stigma associated with Wahaha [5] - The new brand benefits from an established supply chain and has achieved a high initial sales rate, indicating strong market entry capabilities [5] Group 4: Industry Implications - The transition from traditional family inheritance to a value-driven approach is exemplified by Zong Fuli's strategy, which retains brand recognition while shedding historical burdens [6] - Wahaha Group now faces transformation challenges under state ownership, while "Wah Xiaozong" represents a new model for private enterprise succession in China [6]

Core Viewpoint - The internal conflict within Wahaha Group has escalated, marked by the resignation of Zong Fuli from key positions, including legal representative and chairman, amid trademark compliance issues and her decision to launch her own brand, "Wawa Xiaozong" [1][10]. Group 1: Resignation and Leadership Changes - Zong Fuli resigned from her positions at Wahaha Group on September 12, confirmed by company insiders [1]. - Xu Simin, former legal head of Hongsheng Group, is set to succeed Zong Fuli as chairman [2]. Group 2: Internal Conflicts and Shareholder Dynamics - The resignation highlights the intensifying internal conflicts within Wahaha Group, with Zong Fuli holding stakes in over 210 companies, including Wahaha [3]. - The current shareholder structure shows Zong Fuli with 29.40% ownership, while other stakeholders hold 46.00% and 24.60% respectively, indicating a complex power dynamic [6]. Group 3: Trademark Issues and Brand Strategy - Zong Fuli's resignation is linked to compliance issues regarding the use of the "Wahaha" trademark, which is valued at over 90 billion yuan [9]. - An internal document revealed plans to transition to the new brand "Wawa Xiaozong" starting in the 2026 sales year, necessitating unanimous consent from all shareholders for trademark usage [7][17]. Group 4: Challenges in Succession and Governance - The situation reflects broader challenges in the succession of family businesses, where generational transitions often involve conflicts over management philosophy and control [14][16]. - Zong Fuli's management style, influenced by Western education, contrasts with the traditional "family culture" established by her father, leading to governance challenges [15][18]. Group 5: Future Implications for Wahaha - The ongoing leadership changes and trademark disputes may hinder Wahaha's modernization efforts and governance evolution, emphasizing the need for clear decision-making processes and power transition strategies [18].

Core Viewpoint - The internal conflict within Wahaha Group has escalated, marked by the resignation of Zong Fuli from key positions, indicating deeper issues within the company and potential shifts in brand strategy [1][4][5]. Group 1: Resignation and Leadership Changes - Zong Fuli resigned from her roles as legal representative, director, and chairman of Wahaha Group on September 12, confirmed by company sources [1]. - The resignation is speculated to be linked to compliance issues regarding the use of the Wahaha trademark, prompting Zong Fuli to focus on her own brand, "Wawa Xiaozong" [1][5]. - Xu Simin, former legal head of Hongsheng Group, is expected to succeed Zong Fuli as chairman [1]. Group 2: Trademark and Brand Strategy - The Wahaha trademark is valued at over 90 billion yuan, and its usage requires unanimous consent from all shareholders, complicating Zong Fuli's position [7][14]. - An internal document revealed plans to transition to the new brand "Wawa Xiaozong" starting from the 2026 sales year, highlighting ongoing brand strategy shifts [5][14]. Group 3: Corporate Governance and Succession Challenges - The governance structure of Wahaha Group reflects a deep-rooted founder influence, with Zong Fuli facing challenges in transitioning to a more institutionalized management style [12][15]. - The company is experiencing internal turmoil, including legal disputes and employee resistance, as Zong Fuli attempts to implement reforms [12][13]. - The generational transition in family businesses often involves conflicts between traditional management practices and modern governance approaches, as seen in Wahaha's current situation [11][15].

Core Insights - The recent resignation of Zong Fuli from key positions at Wahaha highlights deeper challenges within the company beyond mere personnel changes [1][2] - The transition of leadership from founder Zong Qinghou to his daughter Zong Fuli reflects a struggle between traditional management practices and modern governance approaches [3][4] Company Governance - Zong Fuli's leadership has faced internal resistance, particularly regarding accusations of "emptying" the company and legal disputes related to shareholding changes [2][4] - The company's ownership structure has shifted to a three-way balance, with Zong Fuli holding 29.40% of shares, while other stakeholders hold 46.00% and 24.60% respectively [2] - The governance model at Wahaha has been heavily influenced by its founder's "family culture," which may hinder the establishment of a more efficient modern corporate structure as the company scales [2][4] Leadership Transition - Zong Fuli's management style, influenced by Western education, emphasizes institutional governance over traditional practices, aiming to shift from "human governance" to "legal governance" [3][4] - The presence of Zong Fuli's half-siblings has added complexity to the leadership transition, indicating potential familial conflicts that could impact company stability [3][4] - Successful generational transitions in other Chinese enterprises often involve carefully designed mechanisms rather than simple position changes, highlighting the need for strategic planning in Wahaha's case [3][4] Future Outlook - The decision to rebrand to "Wah Xiaozong" from 2026 indicates a strategic pivot, but the clarity of decision-making processes and power transition plans will be crucial for Wahaha's modernization [4][5] - The ongoing challenges faced by Zong Fuli in her leadership role suggest that the focus should shift from individual successors to the establishment of a robust governance framework for the company's future [5]

Core Viewpoint - The article discusses the internal family conflict within the Zong family, particularly focusing on the inheritance dispute involving the assets of Wahaha, highlighting the clash between traditional values and modern legal frameworks [4][5]. Group 1: Inheritance and Legal Framework - Wang Shuzhen, the 103-year-old mother of Zong Qinghou, holds significant influence over the inheritance distribution due to her status as the first-order heir under the Civil Code [6][8]. - The traditional "grandson preference" within the Zong family complicates the inheritance issue, as Wang Shuzhen's bias towards male descendants creates a challenging environment for Zong Fuli [10][12]. - Zong Fuli faces a dual challenge of navigating legal processes while contending with deeply rooted family traditions, which may undermine her claims to the inheritance [12][14]. Group 2: Family Dynamics and Rivalry - Zong Zehou, Zong Fuli's uncle, publicly criticizes her approach to the inheritance issue, framing her actions as lacking familial consideration and portraying her negatively in the media [19][20]. - Zong Zehou's motivations appear to be driven by a desire to control Wahaha, as he expresses willingness to lead the company if a potential acquisition by state-owned enterprises occurs [23][24]. - The article suggests that Zong Zehou's past business failures raise questions about his capability to revitalize Wahaha, indicating a disconnect between his ambitions and actual business acumen [25][27]. Group 3: Broader Implications for Family Businesses - The Zong family's conflict reflects a broader issue within Chinese private enterprises, where reliance on personal authority can lead to governance challenges post-founder departure [33][34]. - The article emphasizes that wealth accumulation must be accompanied by ethical governance to prevent familial conflicts from undermining business stability [32][35]. - The Zong family's situation serves as a cautionary tale for other family businesses, highlighting the need for clear governance structures to navigate the complexities of wealth and inheritance [34][35].