Group 1: Wahaha Group Management Changes - The departure of Zhu Lidan, a key figure in the Hongsheng Group controlled by Zong Fuli, has been reported, indicating a significant shake-up in the management structure of Wahaha [3][10] - Zhu Lidan was considered a close associate of Zong Fuli and had been involved in the core operations of Wahaha, particularly in supply chain and production [3][4] - The management turmoil follows Zong Fuli's return to Wahaha, with several long-standing executives being replaced as part of a strategic overhaul [3][9] Group 2: Wahaha Brand Strategy - Zong Fuli has announced that the Wahaha brand will continue to be used for products under the Hongsheng Group, with a directive issued to sales divisions to maintain the brand identity [11] - This decision comes amidst a broader strategy to revitalize the Wahaha brand and its market presence [11] Group 3: Porsche Financial Performance - Porsche reported a significant decline in its financial performance for the first three quarters of 2025, with sales revenue dropping to €26.86 billion, a 6% decrease year-on-year [38] - The operating profit plummeted by 99% to €40 million, down from €4.035 billion in the previous year, resulting in an operating margin of only 0.2% compared to 14.1% [38] - The decline in profitability is attributed to multiple factors, including strategic product adjustments, challenging market conditions in China, and increased costs related to battery activities and organizational changes [39][43] Group 4: Porsche Sales and Market Challenges - Porsche's delivery numbers have also seen a decline, with a 28% drop in expected deliveries for 2024, totaling 56,900 units [39] - The brand has faced significant challenges in the Chinese market, with a reported 26% decrease in sales, totaling 32,195 units [41]

Core Viewpoint - The recent developments in Wahaha's brand strategy indicate a significant shift, with the company deciding to continue using the Wahaha brand for its products in 2026, despite previous intentions to transition to the new brand "Wawa Xiaozong" [2][5]. Group 1: Company Leadership and Structure - Zong Fuli has returned to work at Wahaha, now acting as the president of Hongsheng Beverage Group after previously resigning from her roles as chairman and general manager of Wahaha Group [5]. - Internal conflicts within Wahaha led to the creation of the "Wawa Xiaozong" brand, as Zong Fuli made organizational changes that caused tensions, particularly regarding the ownership and use of the Wahaha trademark [5][6]. - The Wahaha trademark is owned by Wahaha Group, and any use of it requires unanimous consent from all shareholders, which includes Zong Fuli and other stakeholders [6]. Group 2: Brand Strategy and Market Response - The decision to continue using the Wahaha brand was influenced by the resistance from distributors who were hesitant to support the new "Wawa Xiaozong" brand due to concerns over the guarantee deposits and product trustworthiness [9][10]. - Some distributors expressed loyalty to the Wahaha brand and were willing to follow Zong Fuli's direction, viewing the brand transition as a normal part of business evolution [10]. - The introduction of "Wawa Xiaozong" was initially met with skepticism, as many distributors had not completed their guarantee deposit obligations, with completion rates reported at only 10%-20% compared to the previous year's performance [9]. Group 3: Historical Context and Future Implications - Zong Fuli's resignation from Wahaha was reportedly due to issues surrounding the compliance of trademark usage, leading her to focus on her own brand, "Wawa Xiaozong" [12]. - The Hongsheng Group has been actively applying for trademarks related to "Wawa Xiaozong," indicating a strategic pivot towards establishing this new brand in various product categories [12]. - The ongoing brand conflict and the decision to revert to the Wahaha brand may have long-term implications for the company's market positioning and distributor relationships [10][12].

Group 1 - The core point of the article is the significant reversal in the competition surrounding Wahaha, with the Hongsheng Group, controlled by Zong Fuli, announcing plans to continue using the "Wahaha" brand in 2026 [1] - Distributors of Wahaha in Shandong have confirmed receiving notifications from Hongsheng Group's sales staff, requiring them to pay deposits to continue selling Wahaha products next year [1] - An internal source from Wahaha Group indicated that Zong Fuli has returned to work as the president of Hongsheng Beverage Group [1] Group 2 - A distributor in Henan stated that they have reached an agreement with the company to continue selling Wahaha products [1] - Reports indicate that Yan Xuefeng's position at Hongsheng Beverage Group has been restored, while Zhu Lidan's position remains "pending" [1] - Yan Xuefeng previously held the role of "Production Center Director and General Manager of Xun'er Company," while Zhu Lidan was "Management Center Director and Head of Human Resources" [1]

Group 1 - The core viewpoint of the article revolves around the significant developments regarding Wahaha, indicating that the Hongsheng Group, controlled by Zong Fuli, will continue to use the "Wahaha" brand in 2026 [1] - Distributors of Wahaha in Shandong have confirmed receiving notifications from Hongsheng Group's sales staff, requiring them to pay deposits to continue selling Wahaha products next year [1] - An internal source from Wahaha Group stated that Zong Fuli has returned to work, acting in the capacity of President of Hongsheng Beverage Group [1] Group 2 - A distributor in Henan reported that they have reached an agreement with the company to continue selling Wahaha products [1] - According to insiders, Yan Xuefeng's position at Hongsheng Beverage Group has been restored, while Zhu Lidan's position remains "pending" [1]

Core Viewpoint - The recent developments in Wahaha's brand strategy indicate a significant reversal, with the company deciding to continue using the "Wahaha" brand instead of the newly introduced "Wawa Xiaozong" brand, following internal conflicts and pressures from distributors [1][2][4]. Group 1: Brand Strategy and Management Changes - On October 23, it was reported that the Hongsheng system's sales companies were notified to continue using the "Wahaha" brand in 2026, indicating a retreat from the "Wawa Xiaozong" brand introduced by Zong Fuli [1][2]. - Zong Fuli has returned to work at Wahaha as the president of Hongsheng Beverage Group, following her resignation from the positions of chairman and general manager [2][5]. - The internal conflicts at Wahaha stemmed from Zong Fuli's restructuring efforts, which led to tensions regarding the ownership and use of the "Wahaha" trademark [2][3]. Group 2: Distributor Reactions and Market Dynamics - Some distributors expressed distrust towards the "Wawa Xiaozong" brand, leading to a significant shortfall in the collection of deposits, with many regions only achieving 10%-20% of their targets compared to the previous year [4][5]. - While some distributors are hesitant about the new brand, others, particularly larger and long-term partners, remain loyal to Wahaha and are willing to follow Zong Fuli's direction [4][5]. - The situation reflects a normal transitional phase in brand management, where multiple brands and product lines can coexist within a company [4]. Group 3: Trademark and Legal Issues - Zong Fuli's resignation was reportedly linked to issues surrounding the compliance of the "Wahaha" trademark usage, as attempts to transfer the trademark to her new company were unsuccessful [3][5]. - Wahaha Group's major shareholder proposed that the company purchase its 46% stake and the "Wahaha" trademark, but negotiations did not reach an agreement [3].

Core Viewpoint - The recent developments in Wahaha's brand strategy indicate a significant shift back to the original brand after the temporary introduction of the "Wawa Xiaozong" brand, which has now been sidelined due to internal conflicts and dealer resistance [1][2][3]. Group 1: Brand Strategy and Management Changes - On October 23, 2023, it was announced that the macro victory system will continue to use the Wahaha brand in 2026, reversing the earlier decision to adopt the "Wawa Xiaozong" brand [1][3]. - After resigning in September, Zong Fuli has returned to Wahaha, now acting as the president of Macro Beverage Group, indicating a consolidation of leadership [3][4]. - The internal conflict leading to the creation of "Wawa Xiaozong" stemmed from organizational changes initiated by Zong Fuli, which caused tensions regarding brand ownership and usage rights [3][4]. Group 2: Dealer Reactions and Market Dynamics - Some dealers expressed distrust towards the "Wawa Xiaozong" brand, leading to a significant shortfall in the collection of deposits, with only 10%-20% completion compared to the previous year [5][6]. - Conversely, larger and long-term dealers have shown loyalty to the Wahaha brand, indicating a divide in dealer sentiment towards the brand transition [6][7]. - The situation reflects a typical transitional phase in brand management, where multiple brands can coexist under a single company, provided that key stakeholders remain aligned [7]. Group 3: Historical Context and Future Implications - The "Wawa Xiaozong" brand was introduced following Zong Fuli's resignation, which was reportedly due to issues surrounding the compliance of the Wahaha trademark usage [8][9]. - Macro Group has applied for numerous trademarks related to "Wawa Xiaozong," indicating a strategic push to establish this new brand in various product categories [8][9]. - The ongoing negotiations regarding the ownership of the Wahaha trademark and shares among major stakeholders highlight the complexities of corporate governance within the company [4][9].

Core Viewpoint - The resignation of Zong Fuli as the chairman and general manager of Wahaha Group marks a significant shift in the company's leadership, with the younger generation taking over amidst a backdrop of internal family conflicts and brand challenges [1][2][6]. Group 1: Leadership Changes - Zong Fuli has stepped down to focus on her own brand "Wah Xiaozong," while Xu Simin, born in 1994, has been appointed as the new general manager, leaving the chairman position vacant [1]. - The control of Wahaha has effectively returned to its largest shareholder, the Hangzhou State-owned Chengdu Cultural Tourism Group [1]. Group 2: Brand and Market Position - The brand "Wah Xiaozong" is seen as a forced choice for Zong Fuli, indicating a complete separation from Wahaha [2][3]. - The brand value of Wahaha, previously estimated at 90 billion, is now in jeopardy due to negative public perception and the collapse of the personal brands associated with the Zong family [12][13]. Group 3: Asset and Investment Considerations - Wahaha Group's actual assets are limited, with the Zong family retaining control over the production and sales, making it unattractive for potential investors [8][9]. - The complexity of separating the brand from the Zong family's operational control poses significant challenges for any prospective buyer, especially given the brand's tarnished reputation [10][19]. Group 4: Governance and Future Prospects - The governance structure requires unanimous consent from all shareholders for brand licensing, complicating any potential transition to new ownership [15]. - The current situation presents a challenging environment for any investor, with the risk of further brand devaluation and operational difficulties looming [17][20].