同濟大学 TONGJI UNIVERSITY 4.fourth group of NPEs -Sub-group 2:conslsted of the former SOEs and TVEs managers who gained the largest shares after their transformation into shareholding companies. Zong Qinghou and his "Wahaha" 哈哈 缕宗获后 Wahaha is a popular beverage brand among Chinese consumers. 或们要宗忘 20 20 - Sub-group 2: - Sub-group 2: - Sub-group 2: - Sub-group 2: consisted of the former SOEs and TVEs managers who gained the consisted of the former SOEs and TVEs managers who gained the consisted of the former SOEs and TVEs managers who gained the consisted of the former SOEs and TVEs managers who gained the largest shares after their transformation into shareholding companies. largest shares after their transformation into shareholding companies. largest shares after their transformation into shareholding companies. largest shares after their transformation into shareholding companies. 4. fourth group of NPEs 4. fourth group of NPEs 4. fourth group of NPEs 4. fourth group of NPEs Zong Qinghou and his "Wahaha