July 17th – The ongoing dispute surrounding the estate of Zong Qinghou, the late founder of beverage giant Wahaha, has captured significant public attention.
Wahaha previously stated that the inheritance matter is a private family affair and maintains that it has no impact on the company’s operations or business. As such, the company will not be issuing any official statements.
However, recent developments indicate that a major shareholder in Hangzhou Wahaha Group Co. Ltd. – Hangzhou Shangcheng District Wen Shang Lu Investment Holding Group Co. Ltd., a subsidiary of the Hangzhou Shangcheng District Finance Bureau – has taken action. A special task force has been established in Hangzhou to address the situation.
The Hangzhou Shangcheng District Finance Bureau confirmed the intervention. “We have received numerous inquiries and complaints regarding this matter. We have been actively addressing it and a dedicated task force has been formed to intervene. We are committed to resolving this issue as quickly as possible.”
The move follows lawsuits filed in Hong Kong and Hangzhou by three individuals – Zong Jichang, Zong Jieli, and Zong Jisheng – who claim to be Zong Qinghou’s illegitimate children. They are seeking a share of a $2.1 billion trust fund and a 29.4% stake in the Wahaha Group, estimated to be worth over RMB 20 billion.
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