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Zong Qinghou's death, Zong Fuli's new responsibility

Zong Qinghou's death, Zong Fuli's new responsibility

Zong Qinghou's death, Zong Fuli's new responsibility
Zong Qinghou's death, Zong Fuli's new responsibility

On February 25, Wahaha released an obituary that Zong Qinghou, founder and chairman of Wahaha Group, passed away at 10:30 on February 25, 2024 at the age of 79 due to ineffective medical treatment. After more than 30 years at the helm of the company, Zong Qinghou's departure will push his successor Zong Fuli to a bigger stage faster.

As early as 2019, Zong Qinghou said in an interview with Forbes China that if his daughter was willing to take over, he would hand over the baton to her. If she is not willing to accept it, then professional managers will be trained to take over. This was once misinterpreted by the outside world as Zong Qinghou was dissatisfied with his daughter's performance.

Zong Qinghou's death, Zong Fuli's new responsibility

In 2021, Zong Qinghou began to take a back seat, and his daughter Zong Fuli stepped forward to serve as the vice chairman and general manager of the group, and his father Zong Qinghou is still the chairman of the group. Wahaha, the father and daughter, completed the transfer of authority.

In the past two years, Zong Qinghou has become a father who loves to praise his daughter. He affirmed Zong Fuli in the media more than once, not only saying that she has become a more mature entrepreneur in recent years and showing a satisfied attitude towards the company independently managed by her daughter, but also said that Zong Fuli's performance in Wahaha Group can score 90 points, "better than me".

Zong Qinghou's death, Zong Fuli's new responsibility

The relationship between Zong Fuli and her father Zong Qinghou is not only a family matter, the outside world sees it more as a relationship between two generations of entrepreneurs, but also a common issue facing private enterprises in Chinese mainland: inheritance.

According to PwC's survey data, the proportion of family enterprises in Chinese mainland owned and inherited by families is 59% and 57% respectively, slightly lower than the global 65% and 64%, and only about one-fifth of mainland family enterprises have determined succession plans to increase the training of family business heirs.

Is Zong Fuli ready to take on the responsibilities that come with Wahaha, a long-established consumer goods company?

In 2004, Zong Fuli, who had just graduated, came to Wahaha's production line in Xiaoshan for first-line training. For the next three years, Zong Fuli was immersed in the production business until 2007, when the 25-year-old Zong Fuli began to develop a "new world" according to her own blueprint - Hongsheng Beverage Group. Acquiring land, purchasing equipment, building a team, and building factories, in the following years, Zong Fuli built factories all over the country.

Zong Fuli believes that in today's era, excellent technology is the key for a beverage company to stand at the forefront of the trend, and it must innovate, otherwise it will lose its right to speak. In the first year, Zong Fuli established Songyuan Machinery, and in two years, Songyuan Machinery independently developed beverage packaging molds such as PET bottles and bottle caps.

"Zong Fuli is well versed in the front line of production and marketing, not only has rich experience in production and operation, industrial chain building, and enterprise management, but also has in-depth insight into the consumer market, led and presided over a number of important brand building projects, and has made important contributions to the upgrading of the Wahaha brand. This is Wahaha's evaluation in Zong Fuli's appointment announcement.

In the following years, Zong Fuli successively established four emerging enterprises such as Songyu Printing and Packaging, Hengfeng Food Technology, and the three core subsidiaries of Hongsheng Group are all national high-tech enterprises, and also have CNAS certification experimental centers. The industrial resources have been integrated, transformed and upgraded, and the whole value chain ecosystem of food and beverage has been created.

At present, Hongsheng has 20 production bases, more than 40 subsidiaries, more than 100 modern production lines, and an annual production capacity of more than 48,000 boxes, achieving market coverage within a radius of 300 kilometers. On the other hand, after the experience, Zong Fuli began to gradually become deeply involved in Wahaha's key business management.

"A product is popular, and it is no longer after it is popular, this thing does not last long, and the most important thing is that the product quality must be passed. Zong Qinghou mentioned quality and integrity many times.

Two years ago, after Zong Fuli became general manager, she did not rush to find new big pieces, but turned her attention to existing classic products. In the first year of Zong Fuli's tenure, she started the IP-based operation of her AD calcium milk products. At the 2021 sales work conference, Zong Fuli proposed: "The brand strategy is mainly divided into three dimensions. The first is to continue circle marketing, the second is to create its own IP, and the last is to combine the push and pull of consumer promotional activities, linking online and offline to do a good job of 360-degree integration and boosting product sales. ”

During Zong Fuli's tenure at the helm of Wahaha, Wahaha's marketing focus shifted significantly to online, creating a younger Wahaha, and strengthening the brand awareness of Wahaha among multiple age groups.

Wahaha's revenue in 2020 was 43.98 billion yuan, creating a new low in the past 10 years. In 2021, Wahaha announced that the sales of its star product AD calcium milk series products will return to 10 billion yuan, which has become the first shot of Wahaha's product rejuvenation. On the list of "2023 China's Top 500 Private Enterprises" officially released by the All-China Federation of Industry and Commerce, Wahaha's sales in 2022 will increase with 51.202 billion yuan, ranking 227th.

"The most important thing in running a business is to keep one thing valuable and continue to do it, if you look at the next three years, there are many people competing on the same stage, but if you look at the next ten or twenty years, then there are not many competitors left. The longer the horizon, the firmer the pace. Zong Fuli said. Long-termism, this is the methodology that Zong Fuli chose for herself, inheritance and inheritance.

Forbes China exclusive manuscript, please do not reprint without permission

Header image source: Visual China

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