AsianFin -- A company led by Wahaha heiress Zong Fuli is investing 1 billion yuan ($138 million) to build a new beverage manufacturing base in Xi’an, signaling a renewed push into core product lines such as bottled water and tea.
Xi’an Hengfeng Beverage Co., where Zong serves as executive director, recently received approval for the project, which includes high-speed water and dairy production lines as well as logistics infrastructure. The company is 90% owned by Hongsheng Beverage Group, a key affiliate of Wahaha.
The investment comes amid broader restructuring at Wahaha, which has shut down 18 production lines since the start of the year, affecting facilities in cities such as Shenzhen and Dali, according to public records.