Core Points - Wahaha Group is experiencing significant internal conflicts, highlighted by the resignation of Zong Fuli from key positions on September 12 [1][3] - Zong Fuli's resignation is reportedly linked to issues regarding the compliance of the Wahaha trademark usage, prompting her to focus on her new brand "Wawa Xiaozong" [1][5] - The internal strife within Wahaha Group has become more public, raising speculation about Zong Fuli's future intentions [3][4] Shareholding Structure - The current shareholding structure of Wahaha Group includes three parties: Zong Fuli holds 29.40%, Hangzhou Shangcheng District Wen Shang Lv Investment Holding Group Co., Ltd. holds 46.00%, and the Wahaha Group grassroots trade union holds 24.60% [4] Trademark Issues - The controversy surrounding the "Wahaha" trademark has been a significant factor in Zong Fuli's decision to resign, as the trademark's usage requires unanimous consent from all shareholders [6][5] - The trademark is valued at over 90 billion yuan [6] New Brand Launch - Zong Fuli has chosen to exit Wahaha and establish her own brand "Wawa Xiaozong," which has already introduced a sugar-free tea beverage [7] - The effectiveness of the new brand "Wawa Xiaozong" as a competitive tool remains to be seen [8]

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 usage disputes and her decision to launch a new brand, "Wawaizong" [1][4][5]. Group 1: Resignation and Leadership Changes - Zong Fuli resigned from her roles at Wahaha Group on September 12, confirmed by company insiders [1]. - Xu Simin, former legal head of Hongsheng Group, is expected to succeed Zong Fuli as chairman [2]. - This marks Zong Fuli's second resignation, previously stepping down in July 2024 due to shareholder concerns about her management [4]. Group 2: Shareholder Dynamics - Wahaha Group's ownership structure includes three main shareholders: Zong Fuli (29.40%), Hangzhou Shangcheng District Cultural Tourism Investment Holding Group (46.00%), and the Wahaha Group grassroots trade union (24.60%) [4]. - Zong Fuli's resignation has intensified visible conflicts among shareholders, prompting speculation about her future intentions [4]. Group 3: Trademark and Brand Strategy - The resignation is linked to ongoing disputes over the compliance of the "Wahaha" trademark, with Zong Fuli's new brand "Wawaizong" being a strategic pivot [5][6]. - An internal document indicated that starting from the 2026 sales year, the company would transition to the new brand "Wawaizong" to ensure compliance with trademark usage [6]. - The "Wahaha" brand is valued at over 90 billion yuan [6]. Group 4: New Brand Launch - Zong Fuli's new brand "Wawaizong" has already been introduced, featuring a sugar-free tea beverage [7]. - The effectiveness of "Wawaizong" as a competitive brand remains to be seen [8].