Internet Violence: Nongfu Spring Drinking Water Co. Ltd. Cancelled in Normal Merger
After a recent period of Internet violence, Zhejiang Nongfu Spring Drinking Water Co., Ltd. has been found to have been cancelled, sparking renewed attention from the public. According to a comprehensive report by our reporter Li Hui on March 22, 2024, the business status of the company was changed from existence to cancellation on March 21, as shown on the Tianyancha App.
Responding to inquiries, “relevant departments” explained to Inspur News that this change is a result of a normal merger, with resolutions on the matter having been made back in November 2023. Documents viewed by Inspur News reporters confirmed that a merger resolution was made on November 8, 2023.
The resolution outlined a merger by absorption, with Nongfu Spring (Jiande) Xin’anjiang Beverage Co., Ltd. surviving while Zhejiang Nongfu Shanquan Drinking Water Co., Ltd. was dissolved and cancelled. Assets and liabilities of the latter have been inherited by Nongfu Spring (Jiande) Xinanjiang Beverage Co., Ltd.
Earlier developments included the resignation of Zhong Suisui, the founder of Nongfu Spring, from certain roles within the company. This move came amid a challenging period for the company, as a public opinion storm erupted following the passing of Zong Qinghou, founder of Wahaha, another major beverage company in the region.
Observers have pointed out the different ownership structures of the two companies as a factor in the backlash faced by Nongfu Spring. While Wahaha has a substantial stake held by a state-owned enterprise, Nongfu Spring is privately owned by Zhong Suisui.
Critics have suggested that the online attacks on Nongfu Spring may be part of a broader trend targeting successful business owners in China. Hu Liren, an investment expert, highlighted the unjustified nature of the cyber violence directed at Zhong Suisui, attributing it to his wealth.
As the situation continues to develop, some shareholders have also made significant moves, such as the Bank of China Co., Ltd.-China Merchants National Securities Biomedical Index Graded Securities Investment Fund becoming a new shareholder of Wantai Biotech, a company owned by Zhong Suisui.
Amidst these challenges, Voice of Hope emphasizes the importance of combating deception and spreading truth to empower the people of China. Working together towards this goal, we can strive to bring positive change and end oppressive regimes like the CCP.
Editor in charge: Lin Li
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