Condolences Flow for the Passing of 'China's Beverage King'..."A Symbol of Reform and Opening-up Achievements"

Famous Wahaha Group Founder Bing Hongcha
Passes Away, Management Rights Inherited by Daughter Zhong Fuli

Zhong Qinghou, the founder of Wahaha Group, known as the "King of Chinese Beverages," has passed away, sparking waves of mourning locally. He nurtured the private enterprise Wahaha in line with China's reform and opening-up period and was once ranked as the richest person in China.

According to Wahaha's official Weibo channel, the company's founder Zhong Qinghou passed away at 10:30 p.m. on the 25th at the age of 79. He was not only listed among the "Top 100 Outstanding Private Entrepreneurs in 40 Years of Reform and Opening-up" selected by the Chinese Communist Party and the All-China Federation of Industry and Commerce in 2018, but was also once considered the wealthiest person in mainland China. Starting with the establishment of a children's nutritional food factory in 1987, he led the company to an annual revenue scale of 50 billion yuan (approximately 9.239 trillion KRW). Currently, Wahaha has production plants and 187 subsidiaries across 29 provinces, cities, and autonomous regions in China, employing about 30,000 people.

Beverage group Wahaha's Chairman Zhong Qinghou (Photo by Bloomberg News).

Local media have published special articles in succession to commemorate him. China's Pengpai News emphasized, "His and Wahaha's success reflects and is closely related to the development of the private economy following China's reform and opening-up," adding, "He said in multiple interviews and events throughout his life that reform and opening-up gave him opportunities."

The media also mentioned that he actively shared the company's growth achievements with employees. Pengpai stated, "Chairman Zhong did not forget to ensure that employees could enjoy development dividends as Wahaha succeeded," and "According to Chairman Zhong in January 2022, Wahaha prepared a bonus of 600 million yuan," explaining that "he viewed this as a form of 'wealth sharing.'"

According to local media, Chairman Zhong, born in 1945, experienced a very impoverished childhood and supported his family by selling food on the streets after graduating from middle school. From his early twenties, he engaged in intense physical labor for over 14 years and began working as a salesperson at a factory in Hangzhou in 1987, the first year of reform and opening-up. He later recalled that "I measured the Chinese market directly on foot and penetrated every remote corner," adding, "This was how I mapped out the Chinese market."

He founded Wahaha in 1987 at the age of 42. Starting a beverage distribution business centered around schools, he steadily expanded his business by establishing a children's nutritional food factory. In 1991, he officially established Wahaha with 2,000 employees by acquiring an old state-owned enterprise's factory. Initially running a deficit of 40 million yuan, the factory turned profitable within three months and achieved sales of 400 million yuan in its second year, growing rapidly.

Subsequently, Chairman Zhong was elected as a representative to the National People's Congress from 2003 to 2017. His business prospered, and starting in 2010, he was named the "richest person" three times on the "Hurun Global Rich List" published by the Chinese consulting firm Hurun Research Institute.

Following his passing, the management rights are expected to be succeeded by Vice Chairman Zhong Fuli, who has been involved in management since 2018. Vice Chairman Zhong, who joined the company as a director of public relations at that time, is credited with helping to rejuvenate the company's image through new product launches and e-sports sponsorships.

This content was produced with the assistance of AI translation services.