Core Viewpoint - The new leadership under Zong Fuli at Wahaha has faced significant challenges, including family disputes and the need for product innovation, while achieving a revenue rebound to 70 billion yuan in 2024, but recognizes this growth may not be sustainable [4][16]. Group 1: Leadership Transition and Challenges - Zong Fuli's self-assessment of her performance is "not satisfied," reflecting the difficulties faced during her transition, including her father's passing and family conflicts [2][17]. - The company is undergoing a period of "new and old transition," requiring both leadership and product innovation to maintain competitiveness [5][6]. - Zong Fuli acknowledges the need for Wahaha to adapt to changing market conditions and consumer preferences, emphasizing the importance of innovation and market insight [7][15]. Group 2: Product Innovation and Market Strategy - The flagship product, AD Calcium Milk, remains a strong performer, but there is a pressing need for new product development, as the last major innovation was in 2005 [6][20]. - The launch of the upgraded ice tea product aims to capture market share from established competitors like Master Kong, with a focus on larger packaging and improved ingredients [7][21]. - Zong Fuli emphasizes that true innovation in the beverage industry requires deep consumer insights and technological advancements, rather than superficial changes [22][28]. Group 3: Sales and Distribution Strategy - Wahaha is optimizing its distribution network, moving away from the traditional "joint sales system" to a more modern and efficient approach, while still leveraging its existing strengths in lower-tier markets [9][24]. - The company has significantly increased its investment in offline ice cream cabinets, with plans for 100,000 units to enhance product visibility and availability [10][11]. - Zong Fuli's management strategy includes a focus on enhancing team execution and operational efficiency, aiming for a more professional and market-oriented organization [17][20]. Group 4: Organizational Changes and Employee Relations - Recent organizational changes, including a board restructuring and employee contract adjustments, have led to some unrest among staff, prompting the formation of a "rights protection committee" [14][25]. - Zong Fuli addresses these concerns by stating that adjustments are necessary to align with evolving market conditions and consumer demands, and emphasizes the importance of maintaining a stable and effective management structure [15][26]. - The company aims to create a high-performing executive team that embodies professionalism and leadership, fostering a culture of collaboration and shared responsibility [27][28].