Core Viewpoint - The sudden resignation of Zong Fuli from Wahaha Group has raised concerns and speculation regarding the company's future and brand management, particularly in light of ongoing legal disputes and brand compliance issues [2][3][4]. Group 1: Resignation Details - Zong Fuli resigned from her positions as legal representative, director, and chairman of Wahaha Group on September 12, 2023, following the necessary procedures through the company's shareholder and board meetings [2][3]. - The resignation is reportedly linked to non-compliance issues regarding trademark usage, prompting Zong Fuli to focus on her own brand, "Wawa Xiaozong" [3][4]. Group 2: Company Background and Leadership Changes - Zong Fuli, born in January 1982, is the daughter of Wahaha's founder, Zong Qinghou. She has held various positions within the company since 2018, including brand public relations and sales management [3][4]. - Following the death of Zong Qinghou, Zong Fuli took over as the legal representative and chairman of Wahaha Group in August 2024, while also serving as general manager [4]. Group 3: Brand and Trademark Issues - Reports indicate that due to the expiration of the Wahaha brand, the company is unable to continue using the brand for its bottled water products and must create a new brand [4]. - The new brand "Wawa Xiaozong" is set to be adopted starting from the 2026 sales year, as part of efforts to ensure compliance with brand usage regulations [4][5]. Group 4: Shareholding Structure - The shareholding structure of Wahaha Group is characterized by a tripartite balance: Hangzhou Shangcheng District Cultural Tourism Investment Holding Group Co., Ltd. holds 46%, Zong Fuli personally holds 29.4%, and the grassroots union holds 24.6% [5]. Group 5: Legal Disputes and Trust Issues - Zong Fuli is currently embroiled in a legal dispute over her father's estate, with claims from three of Zong Qinghou's children regarding the disclosure of assets in a HSBC bank account [7]. - A court ruling has restricted Zong Fuli from accessing or transferring any assets from the account until the legal proceedings are resolved [7][8].

Core Viewpoint - Yan Xuefeng, a core member of Wahaha Group and a close associate of Zong Fuli, has been released from investigation and has returned to work at Hongsheng Group as of October 5 [2][3] Group 1: Investigation and Company Dynamics - Yan Xuefeng was under investigation by the Hangzhou Discipline Inspection Commission for suspected violations, with the notice sent to Wahaha Group's Party Committee on October 2 [3] - Following Yan's investigation, rumors about Zong Fuli being investigated also surfaced; however, a source confirmed that Zong Fuli was at work on October 9 [3] - Yan Xuefeng currently serves as the Production Center Director at Hongsheng Beverage Group and is a key executive, also holding supervisory roles in 189 companies associated with Wahaha [4] Group 2: Brand Strategy and Legal Issues - Wahaha Group is planning to launch a new brand "Wah Xiaozong" starting from the 2026 sales year to address historical compliance issues related to the "Wahaha" brand [5] - The trademark for "Wah Xiaozong" is owned by Hongsheng Group, with the application date recorded as May 2025 [5] - A dispute over brand authorization led to the Shanghai Wahaha Drinking Water Company launching the "Hu Xiaowawa" brand, which is similar to the previous Wahaha bottled water [5][6] - Wahaha Group has requested the Shanghai Wahaha Drinking Water Company to cease using the "Wahaha" brand, leading to tensions and potential bankruptcy discussions [6]

Core Viewpoint - The ongoing legal dispute involving the Wahaha founder Zong Qinghou's estate has drawn significant attention, particularly regarding the inheritance rights and asset management of the Zong family, with a focus on the HSBC account holding substantial assets [1][4]. Group 1: Legal Proceedings - On August 1, the Hong Kong High Court approved a preservation order for HSBC accounts, preventing the defendants from withdrawing or mortgaging assets while allowing investment operations [2][4]. - The case involves Zong Fuli, the legitimate daughter of Zong Qinghou, and her half-siblings Zong Jichang, Zong Jieli, and Zong Jisheng, who claim inheritance rights [1][2]. - The court's preservation order is intended to secure $1.8 billion in disputed assets until the conclusion of related litigation in Hangzhou [2][4]. Group 2: Asset Management and Financial Details - As of May 31, 2024, Jian Hao Ventures Limited held $1.799 billion in its HSBC account, primarily consisting of bonds, fixed-income assets, and some cash [4]. - Approximately $110,000 was transferred out of the HSBC account by May 2024, raising concerns among the plaintiffs regarding unauthorized fund transfers [4]. - The plaintiffs are seeking to ensure the preservation of assets in the HSBC account and demand that Zong Fuli fulfill her father's will by establishing a trust and compensating them for losses incurred due to fund transfers [4][5]. Group 3: Inheritance Rights - The dispute also touches on the inheritance of a 29.4% stake in Wahaha Group, although the legal representatives for the group have clarified that this stake is solely inherited by Zong Fuli as per the will [6]. - The ongoing litigation in both Hong Kong and Hangzhou highlights the complexities surrounding the Zong family's asset distribution and the legal interpretations of inheritance rights [5][6].

Core Points - The recent judgment in the Wahaha family inheritance dispute has been made public, rejecting the appeal application from Zong Fuli, allowing her to temporarily avoid disclosing the latest balance and asset movements of the HSBC account [1][2][3] Legal Developments - The Hong Kong High Court ruled on September 26, 2024, to dismiss the appeal application from Zong Fuli, the defendant, in the inheritance dispute case [2][3] - The plaintiffs, Zong Jichang, Zong Jieli, and Zong Jisheng, are Zong Fuli's half-siblings, claiming rights to the trust assets established by their late father, Zong Qinghou, who passed away on February 25, 2024 [2][3] - The court previously issued an asset preservation order on August 1, 2024, preventing Zong Fuli from withdrawing or transferring any assets from the HSBC account, which holds approximately $1.8 billion [3][4] Company Challenges - Zong Fuli faces significant challenges within Wahaha Group, including ongoing shareholder disputes and trademark issues [7][8] - The current ownership structure of Wahaha Group includes three major shareholders: a state-owned investment group, Zong Fuli, and an employee stockholding committee, with the latter's 24.6% stake being a variable in control [7] - Zong Fuli's recent decision to launch a new brand, "Wah Xiaozong," is seen as a response to the uncertainties surrounding the company's trademark and brand identity [8][9]

Core Points - The recent developments in the Wahaha Group's $1.8 billion trust dispute have raised significant uncertainties for the company and its leadership [2][3] - The Hong Kong High Court has rejected the appeal by Zong Fuli, allowing her to temporarily avoid disclosing the latest balance and asset movements of the HSBC account [5][6] - Zong Fuli is facing dual pressures from both internal company disputes and external legal challenges, prompting her to consider launching a new brand "Wah Xiaozong" [2][9] Legal Developments - On September 26, the Hong Kong judiciary announced the dismissal of Zong Fuli's application for appeal regarding the trust dispute [3][4] - The original plaintiffs, Zong Jichang, Zong Jieli, and Zong Jisheng, claim rights to the trust assets established by their late father, Zong Qinghou, which are currently frozen [6][7] - The court's decision maintains the asset preservation order, preventing Zong Fuli from withdrawing or transferring any assets from the HSBC account until the mainland court's final ruling [4][6] Company Internal Issues - Zong Fuli has been navigating significant challenges since taking over as the head of Wahaha Group in August 2024, including shareholder disputes [7] - The current ownership structure includes three major shareholders, with the employee stockholding committee holding a significant 24.6% stake, complicating governance [7] - Legal disputes have arisen regarding the employee stockholding committee's buyback agreement, which has not been finalized due to ongoing litigation [7] Brand Strategy - Amidst the ongoing legal and internal challenges, Zong Fuli's potential launch of the new brand "Wah Xiaozong" has sparked discussions about its impact on the company's market position [9] - Analysts suggest that while this move may create short-term disruptions, it could also represent a necessary step towards modernizing the company's governance and operations in the long run [9]

Core Points - The Hong Kong High Court has dismissed the appeal application made by the defendants, represented by Zong Fuli, regarding the Wahaha family inheritance dispute [1][2] - The court previously ruled that Zong Fuli cannot withdraw any assets from Jian Hao Ventures Limited's HSBC account until the litigation in Hangzhou courts is resolved [1] - The defendants are seeking to temporarily suspend the disclosure order regarding the HSBC account while they apply for permission to appeal [3] Summary by Sections Court Ruling - The Hong Kong High Court rejected five grounds of appeal presented by Zong Fuli, including the applicability of the High Court Ordinance Section 21M and the necessity of a disclosure order [2] - The court maintained that the freezing of assets in the HSBC account is justified to support the ongoing litigation in Hangzhou [2] Disclosure Order - The court had previously mandated the defendants to disclose the latest balance and asset movements of the HSBC account to ensure the effectiveness of the preservation order [2] - A temporary suspension of the disclosure order has been granted, allowing Zong Fuli to refrain from revealing account details while pursuing further appeals [3]

Core Viewpoint - The ongoing inheritance dispute involving the Wahaha family has seen a new development, with the Hong Kong High Court rejecting the appeal application from the defendant, represented by Zong Fuli [1][2]. Group 1: Court Rulings - On August 1, the Hong Kong High Court ruled that Zong Fuli cannot withdraw funds from Jian Hao Ventures Limited's HSBC account until the litigation in Hangzhou courts is resolved, unless otherwise ordered by the court [1]. - The court mandated Zong Fuli to disclose the latest balance, asset movements, and complete account records of the HSBC account [1]. - The court's decision to freeze the defendant's assets was based on the need to support the ongoing litigation in mainland China, which the judges deemed a "serious case pending trial" [2]. Group 2: Appeal Process - Zong Fuli's side has raised five grounds for appeal, all of which were dismissed by the court, maintaining the original ruling [2]. - The defendant plans to apply for appeal permission again on August 15, 2025, with the plaintiff submitting a counter-argument on September 1, 2025 [2]. Group 3: Disclosure Order - The court has temporarily suspended the disclosure order requiring Zong Fuli to reveal account details while awaiting the outcome of the appeal [3]. - This suspension allows Zong Fuli to refrain from disclosing the latest balance and asset movements during the appeal process [4].

Core Viewpoint - The ongoing inheritance dispute involving the late founder of Wahaha Group, Zong Qinghou, has led to a court ruling preventing his daughter, Zong Fuli, from accessing $1.8 billion in a HSBC account until the legal proceedings are resolved [1][2]. Group 1: Legal Proceedings - Three alleged illegitimate children of Zong Qinghou filed a lawsuit in the Hong Kong High Court, seeking disclosure of the asset movements in a HSBC account and requesting a freeze on any transactions by Zong Fuli [1][2]. - The High Court issued a non-judicial injunction, prohibiting Zong Fuli from withdrawing or transferring any assets from the HSBC account until the outcome of the litigation in mainland China [1][2]. - The plaintiffs are Zong Jichang, Zong Jieli, and Zong Jisheng, while the defendant is Zong Fuli, the only daughter of Zong Qinghou and current chairperson of Wahaha [1][2]. Group 2: Financial Details - As of May 31, 2024, Jian Hao Ventures Limited, a company registered in the British Virgin Islands and previously managed by Zong Qinghou, holds approximately $1.799 billion in the HSBC account, primarily consisting of bonds, fixed-income assets, and some cash [2]. - The plaintiffs allege that Zong Qinghou had instructed the establishment of a special trust fund in 2023, initially valued at around $2 billion, with each of the three plaintiffs designated to receive $700 million [2][3]. - The plaintiffs claim that Zong Fuli transferred approximately $1.1 million from the account to a trading company in Hangzhou without authorization, which they argue constitutes "malicious appropriation of inheritance" [3].

Core Viewpoint - The inheritance dispute involving Zong Qinghou, the founder of Wahaha Group, has seen a significant development with a Hong Kong court ruling that temporarily prevents Zong Fuli from accessing $1.8 billion in assets held in a HSBC account, pending the outcome of related litigation in mainland China [1][2]. Group 1: Court Ruling and Asset Management - The Hong Kong High Court issued a temporary injunction preventing Zong Fuli from withdrawing or transferring any assets from the HSBC account of Jianhao Investment Co., which holds approximately $1.799 billion [2][3]. - The court's decision aims to ensure the effectiveness of ongoing litigation in Hangzhou regarding the inheritance dispute, modifying previous terms to focus on asset withdrawal rather than overall asset management [2]. Group 2: Details of the Inheritance Dispute - Zong Fuli is being sued by her half-siblings, Zong Jichang, Zong Jieli, and Zong Jisheng, who claim rights to a trust worth $2.1 billion established by their father, Zong Qinghou, and seek to prevent her from disposing of the assets in the HSBC account [3][4]. - The court revealed that Zong Qinghou had established two wills in February 2024, neither of which included his half-siblings as beneficiaries, instead designating Zong Fuli and other family members [4][5]. Group 3: Trust Agreements and Family Dynamics - Zong Qinghou had previously signed an agreement to establish three offshore trusts for his children from different marriages, with a total value of $2.1 billion, but these trusts have not yet been formally established [4][5]. - The court emphasized that the trust and fiduciary relationship issues remain contentious and have not been definitively resolved, indicating ongoing legal complexities [5].

Core Viewpoint - The Hong Kong High Court has approved an asset preservation request in the inheritance case of Zong Qinghou, restricting access to approximately $1.8 billion in HSBC accounts until a final ruling is made by the Hangzhou Intermediate People's Court and the Zhejiang Higher People's Court [2][8]. Group 1 - The court's order prohibits the defendant, Zong Fuli, from using the assets in the HSBC accounts until the conclusion of the ongoing litigation [2]. - The plaintiffs, Zong Jichang, Zong Jieli, and Zong Jisheng, provided handwritten evidence indicating that Zong Qinghou had established trusts of $700 million each for them, allowing only the use of interest income [2][9]. - Zong Jichang's affidavit mentioned that Zong Fuli harbors "serious hostility" towards the plaintiffs and has been engaged in systematic control over family assets [2]. Group 2 - The court documents revealed that the defendant established three offshore trusts, contrary to previous reports of only one trust, and Zong Jichang and others were not named as beneficiaries [3]. - The court's decision included modifications to the draft order, ensuring it remains in effect until the final resolution of the plaintiffs' claims against the first defendant [5][6]. - The wills of Zong Qinghou, dated February 2, 2024, did not list Zong Jichang, Zong Jieli, Zong Jisheng, or Du Jianying as beneficiaries, but included Zong Fuli and other family members [9].