Zong Qinghou, founder of China's leading beverage company the Hangzhou Wahaha Group, is receiving medical treatment at the hospital and is currently in stable condition, according to the company's statement on its official Weibo account on Thursday.

The business operation of the company is running properly, according to the statement. The company also shared its appreciation of the care from friends from all walks of life.

Zong currently lives in Sir Run Run Shaw Hospital affiliated with the Zhejiang University School of Medicine, ThePaper reported.

Zong Qinghou was born in Suqian, Jiangsu province in December 1945 and he has long been regarded as one of the landmark figures in Chinese business history.

The group was established in 1987 with over 30,000 staff members currently, more than 180 subsidiary corporations and over 80 production bases, as well as 35 years of cumulative sales of 860.1 billion yuan ($119.54 billion), according to the company's official website.

Zong Qinghou was listed as the richest person in China by Forbes as early as 2010.

On Dec 9, 2021, Wahaha announced on its official website that Zong Fuli, daughter of Zong Qinghou, was appointed as vice-chairman and general manager of Wahaha, responsible for daily work.