10月10日晚，宗馥莉辞去娃哈哈集团有限公司法定代表人、董事长等职，公司确认 "属实"。此次辞职 或与 "娃哈哈" 商标使用权争议相关 —— 集团股权由宗馥莉（29.40%）、杭州上城区文商旅集团 （46.00%）、基层工会（24.60%）构成，现行架构下 "娃哈哈" 商标使用需全体股东同意，而该商标价 值超900亿元。 这并非宗馥莉首次请辞，2024年7月，宗馥莉的一封请辞信在网上流传，由于公司部分股东"对其经营管 理娃哈哈集团的合理性提出质疑"，宗馥莉决定辞去娃哈哈集团副董事长、总经理职务，"不再参与公司 经营管理"。 这场请辞风波，以宗馥莉不久后正式出任娃哈哈集团法定代表人、董事长兼总经理等职务而告一段落， 也被市场解读为宗馥莉意在"以退为进"。 （原标题：宗馥莉再辞职，"娃小宗" 能否扛起大旗？） 此次辞职前，其实际控制的宏胜饮料已布局新品牌 "娃小宗"，今年5月该品牌无糖茶已亮相，且计划 2026年销售年度起正式启用。另有消息称，原宏胜集团法务部长许思敏将接任娃哈哈董事长。种种信 号，都揭示了娃哈哈集团内部矛盾进一步公开化、白热化。宗馥莉退出娃哈哈后，这一新品牌"娃小 宗"，能否成为宗馥莉的新利器？ ...

新消费 · 新科技 · 新生活 以下文章来源于略大参考 ，作者付饶 略大参考 . 作者： 付饶 来源：略大参考 8月底，宗馥莉接受了财经独家专访，坦言2025年娃哈哈业绩承压，上半年销量增速回落。 ---------------------------------- 多项关键的数据也出现了下滑。尼尔森数据显示，AD钙奶在华东地区销售额下降37%，纯净水市 占率从18%跌至12%。 这是一份惨淡的数据。对于任何一家饮料公司来说，二季度作为主要的销售旺季，通常都该是全年 表现最好的一个季度，业绩下滑本身就是消极信号。 尤其对于娃哈哈来说，AD钙奶和纯净水是娃哈哈的两大重要收入构成，华东地区是全国最大的饮料 消费市场 （占全国总销售额的24.8%） ，也是娃哈哈起家、渠道铺设率最高的地区。 表面上，关键业务和关键销售市场的失利，娃哈哈看似突然卖不动了。 实际上，娃哈哈已经原地踏步很久了。 01 原地踏步 在软饮料市场，中国没有任何一家饮料公司会否认自己对可口可乐的执念。 但曾经打服可口可乐的，只有娃哈哈。 1998年，7家本土可乐挑战外来【两乐】，均受到惨遭失败后，宗庆后推出了一款中国人自己的可 乐——非常可乐，销 ...

Core Viewpoint - Wahaha is facing significant challenges in maintaining its market position and growth, with declining sales in key products and markets, particularly in the beverage sector, indicating a need for strategic transformation and innovation [4][5][6]. Group 1: Sales Performance and Market Position - Wahaha's sales growth has slowed, with a notable decline in key products like AD calcium milk and bottled water, particularly in the East China region, where sales dropped by 37% and market share fell from 18% to 12% [5][6]. - The company's revenue has remained relatively stagnant over the past eight years, fluctuating around 50 billion, with a brief spike to 70 billion in 2024 attributed to emotional consumer spending following the founder's passing [11][12]. - In comparison to competitors like Nongfu Spring, Wahaha's growth has been lackluster, with Nongfu Spring showing faster revenue growth and innovation in product offerings [15][16]. Group 2: Market Dynamics and Competition - The bottled water market is highly competitive, with Wahaha losing market share to brands like Nongfu Spring and Master Kong, which have adopted aggressive pricing and marketing strategies [17][27]. - The overall bottled water market in China is projected to grow significantly, with a market size expected to exceed 310 billion by 2025, indicating a lucrative opportunity for brands that can effectively capture market share [25][26]. - Wahaha's market share in bottled water remains stagnant at around 9.9%, with major competitors holding a combined market share of over 80% [29]. Group 3: Strategic Initiatives and Future Outlook - Under the leadership of Zong Fuli, Wahaha is focusing on expanding its bottled water and tea product lines, with a goal to revitalize the brand and achieve a revenue target of 100 billion [20][21]. - The introduction of new products, such as sugar-free tea, has not yet gained significant traction in the market, highlighting the challenges Wahaha faces in innovating and adapting to consumer preferences [34][39]. - The launch of the new brand "Wah Xiaozong" aims to streamline decision-making and enhance market responsiveness, potentially positioning Wahaha for a more agile transformation in the beverage industry [41][42].

文 | 略大参考 付饶 8月底，宗馥莉接受了财经独家专访，坦言2025年娃哈哈业绩承压，上半年销量增速回落。 多项关键的数据也出现了下滑。尼尔森数据显示，AD钙奶在华东地区销售额下降37%，纯净水市占率从18%跌至12%。 这是一份惨淡的数据。对于任何一家饮料公司来说，二季度作为主要的销售旺季，通常都该是全年表现最好的一个季 度，业绩下滑本身就是消极信号。 尤其对于娃哈哈来说，AD钙奶和纯净水是娃哈哈的两大重要收入构成，华东地区是全国最大的饮料消费市场（占全国 总销售额的24.8%），也是娃哈哈起家、渠道铺设率最高的地区。 表面上，关键业务和关键销售市场的失利，娃哈哈看似突然卖不动了。 实际上，娃哈哈已经原地踏步很久了。 01 原地踏步 在软饮料市场，中国没有任何一家饮料公司会否认自己对可口可乐的执念。 但曾经打服可口可乐的，只有娃哈哈。 1998年，7家本土可乐挑战外来【两乐】，均受到惨遭失败后，宗庆后推出了一款中国人自己的可乐——非常可乐，销 量一度接近可口可乐和百事可乐。对此，可口可乐前总裁杜达夫曾给予了高度评价："将来，可口可乐在中国唯一的对 手可能是来自娃哈哈的挑战。" 好景不长，这句话在不到20年 ...

Core Viewpoint - The current chairman of Wahaha Group, Zong Fuli, plans to abandon the "Wahaha" brand established by her father and replace it with a new brand "Wawaizong" starting from the 2026 sales year due to ownership and trademark usage issues [1][4][6]. Group 1: Brand Transition - The decision to launch a new brand "Wawaizong" comes after the failure to transfer the "Wahaha" trademark to a company fully controlled by Zong Fuli, which would have allowed her to maintain control over the brand [6][7]. - The new brand "Wawaizong" has already seen the application for 45 trademarks covering various international categories, indicating a significant push towards establishing this new identity [9]. Group 2: Sales Challenges - Wahaha's sales have been declining, with reports indicating a drop in sales by 15% to 40% in various regions, attributed to market saturation and increased competition [12][13]. - The beverage industry is facing a downturn, with many retailers still selling stock from previous months, leading to concerns about future sales performance [11]. Group 3: Distributor Concerns - Distributors express skepticism about the new brand, fearing that consumer recognition and acceptance of "Wawaizong" will be challenging, especially in lower-tier markets where brand loyalty is strong [10][12]. - Many distributors are struggling with high inventory levels and low profit margins, with Wahaha's profit margins reported at only 10%, significantly below the industry average of 15% [22][24]. Group 4: Market Competition - The competitive landscape is intensifying, with brands like Nongfu Spring and others gaining market share through aggressive pricing and marketing strategies, further complicating Wahaha's position [19][28]. - The introduction of low-cost alternatives in the market has led to price wars, making it difficult for Wahaha to maintain its pricing structure and market presence [14][19]. Group 5: Internal Challenges - The company is facing internal challenges, including a complex product line that lacks focus, which hinders its ability to adapt to market changes effectively [36][37]. - The shift in strategy towards larger distributors has created instability in the distribution network, leading to fears among smaller distributors about their future viability [30][32].

Core Viewpoint - Wahaha Group, led by its head Zong Fuli, is planning to launch a new brand "Wah Xiaozong" starting from the 2026 sales year, following the founder's passing and ongoing trademark disputes [1][9]. Group 1: Brand Transition - The internal document from Hangzhou Wahaha Honghui Food and Beverage Co., Ltd. indicates the need to address historical issues related to the brand after the founder's death [1]. - The company will seek unanimous consent from all shareholders of Wahaha Group for the use of the "Wahaha" trademark, otherwise, no party can use it [1][9]. - The new brand "Wah Xiaozong" is set to replace the existing "Wahaha" brand, with the company actively communicating with distributors and shareholders regarding this transition [1][9]. Group 2: Trademark Ownership and Controversy - The "Wahaha" trademark, valued at over 90 billion, has been a subject of significant controversy, with ongoing transfer applications to move the trademark from Wahaha Group to Hangzhou Wahaha Food Co., Ltd. [9]. - As of February 2025, Wahaha Group is in the process of transferring 387 "Wahaha" series trademarks, with the application for transfer already submitted [9]. - The company has indicated that due to uncertainties in the trademark transfer process, it is prepared to launch a new proprietary brand [9]. Group 3: New Brand Development - The "Wah Xiaozong" trademark application was filed by Hongsheng Beverage, covering categories such as beer, convenience foods, and pharmaceuticals, with the application date being February 19, 2025 [9]. - Following the trademark application, Hongsheng Beverage has registered numerous "Wah Xiaozong" trademarks across various sectors, including dining, office supplies, and clothing [9]. - A new product under the "Wah Xiaozong" brand, a sugar-free tea drink named "Ningxiang Oolong," was revealed in May 2023 [10]. Group 4: Operational Changes - Since February 2023, Wahaha has closed 18 factories, including those in Shaanxi, while simultaneously investing 1 billion to establish a new beverage production base in Xi'an [12]. - Xi'an Hengfeng Beverage Co., Ltd., which is 90% owned by Hongsheng Beverage Group, has received approval for the new production base project, with Zong Fuli serving as the executive director [12].

Core Viewpoint - Zhejiang Wahaha Group has undergone significant leadership changes, with Zong Qinghou stepping down and his daughter Zong Fuli taking over as the legal representative, chairman, and general manager, indicating a shift in management strategy and company direction [2][5]. Group 1: Leadership Changes - Zong Fuli has implemented extensive reforms since taking over, including merging or eliminating several departments and replacing key management personnel with executives from the Hongsheng Group [5]. - The company has seen changes in the legal representatives of several subsidiaries, with Zong Fuli stepping down from her roles in multiple entities [5]. Group 2: Employee Relations and Compensation - The new compensation system introduced by Zong Fuli is performance-based, categorized into four tiers (A, B, C, D), which has led to a 30% increase in sales personnel income and a 23%-31% increase for frontline employees [5]. - The termination of the employee shuttle service, operational for 30 years, has been perceived as a sign of the decline of Wahaha's "family culture" [5]. Group 3: Financial Performance - Wahaha's revenue for 2024 reached 72.8 billion yuan, matching its peak level from 2013, indicating a recovery in financial performance [5]. Group 4: Production and Market Strategy - The company has faced criticism regarding its product and production capacity, leading to the decision to outsource the production of purified water to Jinmailang due to "tight capacity and surging demand" [5]. - Wahaha has announced the construction of 18 new production lines to restore its independent production capabilities, although this has not fully alleviated consumer concerns [5]. Group 5: Brand Competition and Market Position - Following Zong Qinghou's death, internal family disputes have emerged, particularly with the launch of a new brand "Zong Shifu" by Zong Qinghou's brother, which has drawn attention for its similarities to Wahaha's branding [6]. - Wahaha plans to introduce a new proprietary brand, "Wah Xiaozong," under the control of Hongsheng Group, as part of its strategy to navigate the competitive landscape [6][7].

Core Viewpoint - Wahaha is launching a new sugar-free tea product under the brand "Wazong," targeting the declining market of sugar-free tea, which has seen a significant drop in sales growth as of 2025 [1][10] Group 1: Product Launch and Market Position - The new product "Wazong" features a unique round bottle design and aims to appeal to younger consumers, differentiating itself from previous Wahaha sugar-free tea offerings [5] - Wahaha's previous sugar-free tea series launched in March 2024 included four flavors, and the company has positioned sugar-free tea as a key product line [5][10] - The pricing strategy for the new sugar-free tea is competitive, with 15 bottles of 500ml priced at approximately 61.81 to 65.8 yuan, indicating strong initial sales with some flavors already sold out [5][6] Group 2: Market Challenges and Competition - Despite the launch, Wahaha's market share in the sugar-free tea segment has been declining, ranking seventh among the top brands as of June 2024, and dropping to eighth by September 2024 [8] - The leading brand, Nongfu Spring, holds over 70% of the market share, indicating a highly competitive landscape for new entrants like Wahaha [8] - The overall sales growth of sugar-free tea has turned negative in March 2025, suggesting a challenging environment for new product introductions [9] Group 3: Strategic Considerations - Analysts suggest that Wahaha's entry into the sugar-free tea market is a strategic move to boost overall company performance, despite the current market downturn [10] - The company has faced difficulties in establishing successful new products in recent years, raising concerns about its ability to create a standout brand in a crowded market [10] - The need for Wahaha to innovate and differentiate its products is critical for future success, especially in light of strong competition from established brands [10]