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In response to the online rumor that Zong Fuli, vice chairman and general manager of Hangzhou Wahaha Group Co., Ltd., has resigned, a staff member of the company's largest shareholder, Hangzhou Shangcheng District Cultural, Commercial and Tourism Investment Holding Group Co., Ltd., responded to The Paper (www.thepaper.cn) on July 18: The relevant person in charge is further verifying with the company's senior management and Wahaha, and there will be an official announcement later.

According to the resignation letter circulated online, Zong Fuli said that recently the Shangcheng District Government and some shareholders of Hangzhou Wahaha Group Co., Ltd. ("Wahaha Group") have questioned the rationality of her management of Wahaha Group since the death of Chairman Zong Qinghou, making it impossible for her to continue to perform her management responsibilities for the group and its holding companies. She decided to resign from the positions of Vice Chairman and General Manager of Wahaha Group from July 15 and no longer participate in management. Zong Fuli said that she had sent her resignation letter to Hangzhou Wahaha Group Co., Ltd. and all its shareholders, and also urged the relevant parties to re-elect the general manager in a timely manner according to the procedures stipulated in the articles of association and perform management duties to ensure the normal operation of the group and safeguard the common interests of the enterprise, customers and all employees.

The Paper asked Wahaha to verify the resignation letter circulating online, but the company has not responded yet. According to China Business News, people close to Wahaha revealed that several senior executives of the company had left recently, and a former executive said that Zong Fuli's resignation was true.

Hangzhou Wahaha Group Co., Ltd. was founded in 1987. It started with three people and a loan of 140,000 yuan, and has developed into one of the world's leading food and beverage manufacturers. It is one of the top 500 Chinese companies and the top 500 Chinese private enterprises. The equity structure chart of "Qichacha" shows that the company's largest shareholder is Hangzhou Shangcheng District Cultural, Commercial and Tourism Investment Holding Group Co., Ltd., holding 46% of the shares, Zong Qinghou holds 29.4% of the shares, and the grassroots trade union joint committee of Hangzhou Wahaha Group Co., Ltd. (employee stock ownership association) holds 24.6% of the shares.

Hangzhou Shangcheng District Cultural, Commercial and Tourism Investment Holding Group Co., Ltd. is a wholly-owned subsidiary of Shangcheng District State-owned Capital Operation Group Co., Ltd., which is 100% controlled by the District Finance Bureau.

On February 25 this year, Zong Qinghou, founder and chairman of Wahaha Group, passed away at the age of 79. Zong Fuli, the daughter of Zong Qinghou, was born in 1982. She went abroad to study at the age of 14 and returned to China in 2004. She started as a production manager in the Wahaha workshop and is now the vice chairman and general manager of Wahaha Group.