Group 1 - Hongsheng Beverage Group Limited has successfully registered two trademarks for "WAXIAOZONG" in the international classifications of "Social Services" and "Medical Horticulture" with the registration announcement date set for December 21, 2025, and the exclusive rights period from December 14, 2025, to December 13, 2035 [1] - The trademark "WAXIAOZONG" in the 44th class (Medical Horticulture) has been registered, while other trademarks under the Hongsheng Beverage name are still in the application process [2] - The "KELLYONE" trademark, invested by Hongsheng Group and classified under "Convenience Foods," has also been registered with the same announcement date of December 21, 2025, and an exclusive rights period from December 21, 2025, to December 20, 2035 [1][2] Group 2 - KELLYONE is a beverage brand launched by Hongsheng Group in 2016, founded by Zong Fuli, focusing on sugar-free tea drinks, soda water, and fruit and vegetable beverages, targeting new-generation consumers in first- and second-tier cities [3] - As of December 26, 2025, the legal representative of Hongsheng Group has changed from Zheng Qundi to Zong Fuli, who currently holds 29.4% of the shares in Hangzhou Wahaha Group, making her the second-largest shareholder [3]

Core Viewpoint - Wahaha is planning to transition to a new brand "Wah Xiaozong" starting from the 2026 sales year due to compliance issues related to the historical legacy of the brand following the founder's passing [1][8]. Brand Transition - An internal notice indicates that Wahaha will replace its brand with "Wah Xiaozong" to address compliance concerns and historical issues [1][2]. - The trademark for "Wah Xiaozong" was applied for earlier this year, alongside other names like "Wah Xiaohai" [8]. - The first product under the new brand, a sugar-free tea named "Ningxiang Oolong," was launched in May but received lukewarm market reception due to brand recognition issues [10]. Corporate Restructuring - Several Wahaha subsidiaries have undergone name changes to "Hongsheng" or "Hengfeng," indicating a shift towards a new corporate identity [4][12]. - The ownership structure of these companies has also changed, with significant shifts in shareholder control towards entities associated with Zong Fuli [6][19]. - The restructuring appears to be a strategic move by Zong Fuli to consolidate control and distance the company from past associations, particularly with Du Jianying and his family [25]. Legal and Financial Context - The changes come in the wake of ongoing legal disputes regarding inheritance and control of the company, particularly following a court ruling on asset preservation involving Zong Fuli and her siblings [6][22]. - The company has emphasized the need for compliance and risk management in its operations, indicating that the brand transition is part of a broader strategy to mitigate legal risks [8][25]. E-commerce Strategy - Wahaha has shifted its e-commerce operations, reclaiming control from previously associated entities, which is seen as a move to strengthen its online presence and brand authority [20][21]. - The new flagship store on e-commerce platforms is now fully controlled by Zong Fuli's associated companies, enhancing direct consumer engagement [21][26].

Core Viewpoint - The recent changes in Wahaha's online sales strategy, including the shift from third-party management to self-operated flagship stores, have raised concerns among consumers regarding service continuity and product safety [4][12]. Group 1: Company Strategy - Wahaha has transitioned from its original "official flagship store" to a new store operated by a different company, raising questions about the reliability of the new setup [3][4]. - The previous operator, Tongyuan Kang E-commerce, played a significant role in establishing Wahaha's online presence, while the new operator, Hangzhou Hengyi E-commerce, is relatively inexperienced [3][6]. - The decision to take control of online operations is seen as a move to ensure brand integrity and responsiveness to market demands, especially as online retail continues to grow [6][8]. Group 2: Consumer Concerns - Consumers are worried about the loss of their previous purchase history, loyalty points, and customer service continuity due to the abrupt change in management [4][11]. - There is skepticism about whether the new self-operated store will maintain the same level of service and product quality that consumers have come to expect [9][12]. - The shift has led to a perception that the company may prioritize its own interests over customer satisfaction, potentially alienating long-time customers [11][12]. Group 3: Market Context - The online retail market is expanding rapidly, with a reported 11.5% growth in the first four months of 2024, indicating a competitive landscape where brands must adapt quickly [6][8]. - Competitors like Nongfu Spring and Master Kong are actively engaging in promotions and marketing strategies, intensifying the competition for consumer attention [7][8]. - The industry is observing Wahaha's strategy closely, questioning whether this move will ultimately benefit consumers or serve the company's interests more [11][12].