Group 1 - The company Guotou Zhonglu (SH 600962) announced its 10th board meeting of the 9th session held on October 29, 2025, in Beijing, discussing the revision of governance documents related to decision-making procedures [1] - For the year 2024, the revenue composition of Guotou Zhonglu is projected to be 99.39% from the beverage manufacturing industry and 0.61% from other businesses [1]

海外監管公告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任 。 本公告乃烟台北方安德利果汁股份有限公司（「本公司」）根據《香港聯合交易所有限公司證券上市 規則》第 13.10B 條作出。 茲載列本公司於二零二五年十月二十九日在上海證券交易所網站刊發之《2025 年前三季度主要經營数 據公告》，僅供參閱。 承董事會命 烟台北方安德利果汁股份有限公司 董事長 王安 中國烟台，二零二五年十月二十九日 於本公告日期，本公司執行董事為王安先生、張輝先生、王萌女士及王艷輝先生，非執行董事為劉宗 宜先生及張偉先生，獨立非執行董事為龔凡先生、王雁女士及王常青先生。 *僅供識別 1 | 产品类别 | 2025 年 1-9 月 | 2024 年 | 1-9 月 | 同比变化（%） | | --- | --- | --- | --- | --- | | 果汁、香精 | 128,445.44 | | 98,210.50 | 30.79 | | 饲料 | 3,070.18 | ...

1、主营业务分产品情况 单位：万元 币种：人民币 证券代码：605198 证券简称：安德利 公告编号：2025-062 烟台北方安德利果汁股份有限公司 2025 年前三季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 烟台北方安德利果汁股份有限公司（以下简称"公司"）根据《上海证券交易所 上市公司自律监管指引第 3 号——行业信息披露》之《第十二号——酒制造》相关规 定，现将公司 2025 年前三季度主要经营数据（未经审计）公告如下： | 行业 | 2025 年 1-9 月 | 2024 年 | 1-9 月 | 同比变化（%） | | --- | --- | --- | --- | --- | | 饮料制造业 | 128,445.44 | | 98,210.50 | 30.79 | | 饲料制造业 | 3,070.18 | | 3,806.39 | -19.34 | | 合计 | 131,515.61 | | 102,016.89 | 28.92 | 3、主营业务分地区情况 单位：万元 币种：人民币 | 分 ...

Core Viewpoint - Wahaha Group is facing significant challenges, including internal investigations and brand changes, amidst ongoing legal disputes and declining sales performance [2][4][5]. Group 1: Internal Investigations and Leadership Issues - Recent reports indicate that Yan Xuefeng, a key executive at Wahaha Group, is under investigation for disciplinary violations, which has raised concerns about the company's leadership stability [2]. - Despite rumors of her being taken away for questioning, Zong Fuli, the current leader of Wahaha, was reported to be at work as usual [2]. Group 2: Brand Changes and New Initiatives - Wahaha Group plans to transition to a new brand, "Wah Xiaozong," starting from the 2026 sales year to address historical compliance issues related to the "Wahaha" brand [4]. - The trademark for "Wah Xiaozong" is currently owned by Hongsheng Group, which is fully controlled by Yan Xuefeng, indicating a strategic shift in branding [4]. Group 3: Sales Performance and Market Position - Sales for Wahaha this year are reported to be at 80% of last year's peak performance, indicating a decline in market presence [5]. - The Shanghai Wahaha Drinking Water Co., Ltd. has launched a new brand, "Hu Xiaowawa," due to brand authorization disputes, which has led to operational challenges [5][10]. Group 4: Legal and Operational Challenges - The company is embroiled in a legal dispute over a billion-dollar inheritance involving its founder, which has compounded its operational difficulties [2]. - The Shanghai Wahaha Drinking Water Co., Ltd. has been unable to continue using the "Wahaha" brand due to expired trademarks, leading to the need for a rebranding strategy [10].

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 - Shanghai Wahaha Drinking Water Co., Ltd. has launched a new bottled water brand "Hu Xiao Wa" due to brand authorization disputes and operational challenges stemming from the ongoing inheritance dispute involving the founder's family [1][8]. Company Overview - Shanghai Wahaha Drinking Water Co., Ltd. has been profitable for over 20 years, with revenue exceeding 120 million yuan last year, ranking among the top three in the Shanghai bottled water market [3][8]. - The company is a subsidiary of Zhejiang Wahaha Industry Co., Ltd., which holds a 70% stake, while internal employees own approximately 30% [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 [8][13]. - Following the expiration, Wahaha Group requested the cessation of the use of the "Wahaha" brand, and subsequently reported the company for trademark infringement [8][13]. Legal and Family Disputes - The ongoing legal disputes, including a recent court ruling against the company's representative, have complicated the situation for the company's leadership, particularly for Zong Fuli, the daughter of the founder [1][8]. - There are indications that Zong Fuli may also face challenges in using the "Wahaha" brand due to historical trademark issues, prompting the potential rebranding to "Wawa Xiao Zong" by the macro victory group [13][15]. Future Prospects - The launch of "Hu Xiao Wa" is seen as a necessary step for survival, although the company acknowledges the challenges of establishing a new brand [1][8]. - The macro victory group is preparing to transition to the new brand "Wawa Xiao Zong" starting in 2026, as part of their strategy to address historical issues and maintain compliance [15][16].

Group 1 - Company Andeli (SH 605198) announced on September 22 that its ninth board meeting was held via telecommunication to review proposals including the revision and establishment of certain company systems [1] - For the fiscal year 2024, Andeli's revenue composition is as follows: beverage manufacturing accounts for 96.18%, fruit residue manufacturing for 3.37%, and other businesses for 0.45% [1] - As of the report date, Andeli's market capitalization stands at 15.4 billion yuan [1]

Core Viewpoint - The company Hongsheng Beverage, led by Zong Fuli, is planning to launch a new brand "Wawa Xiaozong" in response to ongoing trademark transfer issues related to the "Wahaha" brand [1][7]. Group 1: Brand Transition - An internal document from Hangzhou Wahaha Honghui Food and Beverage Co., Ltd. indicates that starting from the 2026 sales year, the company will replace the "Wahaha" brand with "Wawa Xiaozong" to ensure compliance with trademark usage [1][3]. - The document highlights that under the current shareholding structure, the use of the "Wahaha" trademark requires unanimous consent from all shareholders of Wahaha Group [3]. Group 2: Trademark Issues - The trademark transfer process for the "Wahaha" series is currently underway, with 387 trademarks being transferred from Wahaha Group to Hangzhou Wahaha Food Co., Ltd., which is controlled by Zong Fuli [7]. - The trademark transfer has faced public scrutiny, with accusations of "emptying Wahaha" [7]. Group 3: New Brand Development - In May 2023, Wahaha Group announced plans to launch a new brand due to uncertainties surrounding the trademark transfer process [7]. - Hongsheng Beverage Group has applied for 45 trademarks under the name "Wawa Xiaozong," covering various sectors including beverages, food, and apparel [7][8]. - A new product, a sugar-free tea drink named "Wawa Xiaozong," was revealed in a May 12 post, indicating a focus on health drinks targeting the younger generation [10].

Core Viewpoint - The company Hongsheng Beverage, led by Zong Fuli, is set to launch a new brand "Wa Xiaozong" starting from the 2026 sales year, as a response to ongoing legal and brand usage issues following the founder of Wahaha Group's passing [1][10]. Group 1: Brand Transition - The internal document indicates that the company will replace the "Wahaha" brand with "Wa Xiaozong" to ensure compliance and address historical issues related to brand usage [2][4]. - The decision to change the brand comes amid complex historical issues that have exposed the company to legal risks, necessitating a proactive approach to brand management [5][10]. Group 2: Shareholder Agreement - Under the current shareholding structure, the use of the "Wahaha" trademark requires unanimous consent from all shareholders of Wahaha Group, which complicates the brand's future [4][10]. - The company aims to maintain active communication with shareholders regarding the trademark usage to seek solutions that preserve brand value [4][10]. Group 3: Trademark Applications - Recent trademark applications for "Wa Xiaozong" cover a wide range of categories, including beverages, food, and clothing, indicating a strategic expansion into various markets [12][15]. - The company has filed 45 trademark applications for "Wa Xiaozong" from February to May 2025, reflecting its intent to establish a strong presence in the market [12][15]. Group 4: Market Positioning - The new brand "Wa Xiaozong" is expected to target health-conscious consumers and the Z generation, aligning with Zong Fuli's strategy of brand rejuvenation [15]. - A product under the "Wa Xiaozong" brand, a sugar-free tea beverage, has already been introduced, suggesting a focus on health-oriented products [15].

Core Insights - Hebei Peiyuan Mineral Beverage Co., Ltd. has been established with a registered capital of 3 million RMB [1] - The legal representative of the company is Cheng Hongwei [1] Company Overview - The company is engaged in the manufacturing of specialized equipment for food, wine, beverages, and tea production [1] - It also involves the sale of vending machines and the manufacturing of specialized machinery for water resources [1] Business Scope - The company operates under general projects including beverage production, food internet sales, on-demand drinking water services, food production, and food sales [1] - Certain activities require approval from relevant authorities before commencement, as specified in the business license [1]