According to the National Enterprise Credit Information Publicity System, the status of Hangzhou Wahaha Misheng Daily Chemical Co., Ltd. (hereinafter referred to as “Wahaha Misheng Daily Chemical”) has changed from “operating” to “dissolved by resolution.” Established in August 2021, with a registered capital of 11.5 million RMB, Wang Jiajun serves as the legal representative, with Zong Qinghou and Qian Yan as directors. Wang Jiajun and Hangzhou Wahaha Hongzhen Investment Co., Ltd. respectively hold 70% and 30% of the shares. According to previous media reports, Wahaha once ventured into the market in 2022 with AD calcium children’s toothpaste and laundry detergent pods, with the packaging indicating Wahaha Misheng Daily Chemical as the contracting party.
The Hangzhou Wahaha Group Co., Ltd. is a prominent conglomerate of privately owned companies and is one of China’s largest beverage manufacturers. Based in Hangzhou, Zhejiang province, the name “Wahaha” translates to “laughing child.” With approximately 150 subsidiary firms and 60 manufacturing facilities spread across China, Wahaha boasts a workforce of around 60,000 employees.
Initially established in 1987 as a sales company owned by the local government, the company has predominantly been overseen by Zong Qinghou, who has been responsible for its day-to-day operations. On 25th Feb this year, Zong Qinghou passed away at the age of 79. His passing elicited mourning from numerous entrepreneurs, including Alibaba co-founder Jack Ma and Xiaomi CEO Lei Jun. It also garnered attention from some well-known foreign media outlets, including The New York Times, CNN, and Forbes.
Born into a humble family in Suqian, Jiangsu province, in October 1945, Zong Qinghou returned to the provincial capital in 1978 to begin his career as a salesman. Collaborating with two retired teachers, he assumed ownership of a small grocery store at a local school in 1987, initially focusing on distributing beverages and ice cream. This marked the outset of his journey to establishing a leading beverage company. In 1989, he established and led the Hangzhou Wahaha Nutritional Foods Factory, which later evolved into the Hangzhou Wahaha Group after acquiring a financially troubled local canned food factory two years later.
In 1995, recognizing the market opportunity in bottled water, Zong Qinghou introduced Wahaha’s pure water brand, which quickly gained widespread popularity among Chinese consumers. The following year, the French multinational corporation Danone invested approximately US$70 million in five joint ventures with Wahaha, eventually increasing its stake to 39%.
The collaboration soured in 2007 when Zong Qinghou refused Danone’s proposal to acquire Wahaha’s remaining assets in certain joint ventures, alleging that the French company was attempting a hostile takeover. In retaliation, Danone accused Wahaha of clandestinely operating parallel businesses that replicated products from their joint ventures.
This contentious dispute was resolved in 2009 when Danone sold its shares in the ventures to Wahaha for an undisclosed amount, estimated by analysts at approximately US$500 million at the time. Under the leadership of Zong Qinghou, Wahaha experienced rapid growth, gradually becoming a household name in China. However, over the years, Wahaha has also weathered some challenging periods. Intense competition and constantly evolving sales models quickly placed pressure on its revenue, with its primary competitor being Nongfu Spring.
