证券之星消息，8月20日环境治理板块较上一交易日上涨0.29%，丛麟科技领涨。当日上证指数报收于 3766.21，上涨1.04%。深证成指报收于11926.74，上涨0.89%。环境治理板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 688370 | 丛麟科技 | 30.00 | 10.74% | 8.45万 | 2.47亿 | | 600187 | 国中水务 | 3.11 | 4.01% | 101.60万 | 3.11亿 | | 603315 | 福鞍股份 | 13.92 | 3.88% | 18.17万 | 2.51亿 | | 832802 | 保丽洁 | 20.65 | 3.25% | - 3.44万 | 6980.80万 | | 000035 | 中国天楹 | 4.47 | 2.76% | 43.78万 | 1.94亿 | | 600323 | 瀚蓝环境 | 26.86 | 2.52% | 8.36万 | 2.22亿 | | 301127 | 武汉天源 | 15. ...

Core Viewpoint - Beijing Huiyuan is facing internal conflicts and external challenges, including failed acquisitions and ongoing lawsuits, leading to a call for resistance against "malicious capital games" [1][2][4]. Group 1: Internal Conflicts - Beijing Huiyuan's official statement criticized major shareholder Zhuji Wenshenghui for holding a unilateral shareholder meeting on August 11, which was contested by employee supervisors [2]. - The company’s labor union urged all employees not to recognize the decisions made during this meeting, indicating a significant internal divide [2][4]. - The chairman, Ju Xinyan, has filed a lawsuit against Beijing Huiyuan to confirm the validity of a company resolution, highlighting the ongoing power struggle within the company [5]. Group 2: Financial and Legal Issues - Beijing Huiyuan accused Zhuji Wenshenghui of failing to fulfill investment commitments, with 850 million yuan overdue for over a year, despite multiple reminders [4][5]. - Approximately 650 million yuan of the funds claimed to be invested by Zhuji Wenshenghui are reportedly unutilized and under their direct control, raising concerns about "false capital contributions" [4][5]. - The company has initiated legal action against Zhuji Wenshenghui and its associated entities, which has been accepted by the court [5]. Group 3: Historical Context and Recent Developments - Huiyuan Juice, established in the early 1990s, has faced severe debt crises and underwent a court-approved restructuring in June 2022, with plans for a significant investment of 1.6 billion yuan to revitalize operations [8][10]. - In 2023, Huiyuan Juice reported revenues of 2.745 billion yuan and a net profit of 424 million yuan, indicating operational improvements post-restructuring [10]. - A failed acquisition attempt by Guozhong Water in April 2023, due to frozen share rights, has further complicated Huiyuan's financial landscape and potential for future growth [6][11].

Core Viewpoint - Beijing Huiyuan Food and Beverage Co., Ltd. is embroiled in a power struggle involving its major shareholder, Zhuji Wenshenghui Investment Co., Ltd., questioning the legality of a recent extraordinary shareholders' meeting and the actions taken by the company's sole supervisor [2][3][4]. Group 1: Company Background and Financial Performance - Beijing Huiyuan has recently completed debt restructuring and is projected to achieve profitability in both 2023 and 2024, with net profits of 4.24 billion and 3.44 billion respectively [12]. - The company reported a revenue of 27.45 billion in 2023, with a net profit margin of 15.43% [13]. Group 2: Shareholder Disputes and Legal Issues - The conflict escalated when Zhuji Wenshenghui proposed to dismiss the chairman without notifying the board, leading to allegations of unfair practices regarding capital allocation and profit distribution [4][10]. - The company has initiated legal proceedings against Zhuji Wenshenghui and its associated entities for failing to fulfill their capital contribution obligations as per the restructuring agreement [15]. Group 3: Impact on Stakeholders - A-share listed company Guozhong Water, which invested 930 million in an attempt to gain control over Beijing Huiyuan, is now facing significant losses and has become a passive investor due to the ongoing disputes [17][21]. - The ongoing power struggle and legal disputes may adversely affect the operational recovery that Beijing Huiyuan has recently achieved, raising concerns among creditors and minority shareholders [12][24].

Core Viewpoint - Beijing Huiyuan Food and Beverage Co., Ltd. (Huiyuan) has raised concerns regarding the capital injection commitments from its controlling shareholder, Zhuji Wenshenghui Investment Co., Ltd. (Zhuji Wenshenghui), particularly in light of the upcoming extraordinary shareholders' meeting that may affect the interests of convertible bondholders [1][3][10] Group 1: Shareholder Dynamics - The relationship between Zhuji Wenshenghui and Guozhong Water (600187) has deteriorated since 2024, with Guozhong Water stating its commitment to protect the interests of the listed company while awaiting legal proceedings [2][6] - Huiyuan's public letter indicates that Zhuji Wenshenghui has only contributed 22.81% of the registered capital, with 850 million yuan overdue for over a year and multiple reminders issued [3][4] - The ongoing disputes highlight a shift from a previous cooperative relationship to a contentious one, with potential implications for the company's governance and financial stability [2][3][12] Group 2: Financial Commitments and Disputes - Huiyuan claims that the majority of the 750 million yuan already contributed by Zhuji Wenshenghui is held in a joint account controlled by Zhuji Wenshenghui, rather than being utilized for operational purposes [3][4] - The proposal to use capital reserves to offset losses involves 6.89 billion yuan in debt-to-equity conversion funds, which has not been fully allocated to creditors, raising concerns about the rights of stakeholders [3][10] - Legal experts suggest that if Huiyuan's claims are valid, shareholders should receive dividends based on actual contributions, which could limit the voting rights of those with unpaid capital [10][11] Group 3: Market Implications - The ongoing disputes among Huiyuan, Zhuji Wenshenghui, and Guozhong Water could impact Huiyuan's financing capabilities and brand stability, as the resolution of these conflicts is crucial for future capital raising efforts [12] - The financial struggles of related entities, such as Pengxin Group, which has seen significant declines in revenue and profitability, may further complicate the situation for Guozhong Water and its investment strategies [8][9] - The potential for a capital and control struggle could lead to significant changes in Huiyuan's shareholder structure and operational strategy moving forward [12]

Group 1 - The core viewpoint of the news is that Guozhong Water (600187) has experienced a decline in stock price and significant net outflow of funds, indicating potential challenges in investor sentiment [1][3] - As of August 14, 2025, Guozhong Water's stock closed at 2.96 yuan, down 1.99%, with a turnover rate of 3.33% and a trading volume of 536,600 hands, amounting to 160 million yuan [1] - The latest financial performance shows total revenue of 51.93 million yuan for Q1 2025, a year-on-year increase of 21.13%, but a net profit of 1.02 million yuan, a decrease of 152.00% year-on-year [1] Group 2 - The company has a current ratio of 6.369, a quick ratio of 5.700, and a debt-to-asset ratio of 6.66%, indicating strong liquidity and low leverage [1] - Guozhong Water has made investments in 32 companies and participated in 4 bidding projects, showcasing its active engagement in the market [2] - The company was established in 1998 and is primarily engaged in water production and supply, with a registered capital of 1.61378 billion yuan [1][2]

Core Viewpoint - The article discusses the ongoing struggles of Huiyuan Juice, highlighting the conflicts between its major shareholder and the company, as well as the challenges it faces in its revival efforts after bankruptcy restructuring [3][4][5]. Group 1: Shareholder Conflicts - Huiyuan Juice's parent company, Beijing Huiyuan Food and Beverage Co., publicly accused its major shareholder of failing to fulfill a promised investment of 1.6 billion yuan, with over half of the funds still not received [5][15]. - The company has initiated legal action against the major shareholder, seeking to rally other shareholders and creditors to protect their rights [4][6]. - The major shareholder, Wensheng Asset Management, has only contributed 750 million yuan of the promised investment, with the remaining 850 million yuan overdue for over a year [15][16]. Group 2: Financial Struggles - Since its restructuring approval in June 2022, Beijing Huiyuan has relied primarily on its own resources to maintain operations and achieve continuous profitability [5][6]. - The company reported a cumulative net profit of 760 million yuan for 2023 and 2024, but it still faces approximately 8 billion yuan in debt, indicating a long road ahead to financial stability [47][48]. Group 3: Market Dynamics - The juice market is becoming increasingly competitive, with both new and established players intensifying their efforts, which poses additional challenges for Huiyuan Juice as it attempts to recover [48]. - The article also notes that the major shareholder's proposal to cover losses using capital reserves may lead to further disputes, as it could affect the rights of creditors who have not yet received equity [20][22]. Group 4: Potential for A-Share Listing - There are indications that Huiyuan Juice may be on a path to potentially relist on the A-share market, which could help it recover from its previous delisting from the Hong Kong stock exchange [39][40]. - However, this plan has been complicated by legal disputes involving the major shareholder and other parties, which have led to the freezing of significant shares [40][43].

本文字数：4348，阅读时长大约8分钟 作者 |第一财经王方然 2025.08.14 一场围绕北京汇源饮料食品集团有限公司（下称"北京汇源"）的资本博弈，眼下正在激烈上演。 北京汇源管理层近日罕见发布公开信，直指大股东诸暨文盛汇自有资金投资有限公司（下称"诸暨文盛汇"）存在未缴足出资， 拖欠8.5亿元投资款长达一年，却"掌控实权"的异常状况。此外，大股东还试图通过的资本公积补亏计划，可能变相剥夺债权人 选择权。因此，管理层向其他股东喊话，对大股东进行"限权"。 管理层与大股东发生冲突，已经波及另一股东国中水务。曾经靠入股北京汇源而股价大涨的国中水务，如今的投资收益大幅下 降，控股计划也暂且搁置。 北京汇源与诸暨文盛汇的矛盾，到底有何隐情？第一财经电话联系诸暨文盛汇，接线人员表示"不太了解这一事情"，北京汇源 的电话一直未接通。而国中水务工作人员则在电话中称，这是北京汇源内部事务，该公司是北京汇源的间接投资方，还是会以 国中水务自身利益为主。关于对赌情况，到期后根据协议相关情况来（处理）。 管理层呼吁股东"夺权" 北京汇源管理层在公开信中，试图号召现有股东拿回经营的"主控权"。 诸暨文盛汇是北京汇源的第一大股东 ...

Core Viewpoint - A capital struggle is intensifying around Beijing Huiyuan Beverage and Food Group Co., Ltd, with management accusing the major shareholder, Zhuji Wenshenghui, of failing to fulfill an investment commitment of 850 million yuan for over a year, while still maintaining control over the company [3][5][10]. Group 1: Management's Actions and Proposals - Beijing Huiyuan's management has issued an open letter urging other shareholders to reclaim operational control from Zhuji Wenshenghui, which holds a nominal 60% stake but has only contributed 22.8% of the registered capital [5][10]. - The management has initiated legal action against Zhuji Wenshenghui for the unpaid capital and proposed two measures: confirming the unpaid capital through a shareholder resolution and limiting Zhuji Wenshenghui's rights related to profit distribution and voting [6][10]. - The management's call to action reflects a significant internal conflict, as they seek to address the imbalance between control and actual capital contribution [13][14]. Group 2: Financial Background and Implications - The conflict traces back to a restructuring plan approved in June 2022, where Zhuji Wenshenghui was supposed to invest 1.6 billion yuan over three years, but has failed to deliver the remaining 850 million yuan, which is now overdue by over a year [9][10]. - As of 2023, Zhuji Wenshenghui had only contributed approximately 640 million yuan, while the total unpaid amount, including interest, is around 647 million yuan [9][10]. - The management's concerns are compounded by the fact that the capital reserve, which is over 6.89 billion yuan, includes uncertain portions that could complicate the proposed use of capital reserves to cover losses [15][16]. Group 3: Impact on Other Shareholders - The ongoing disputes have adversely affected other shareholders, particularly Guozhong Water, which had previously benefited from its investment in Beijing Huiyuan but is now facing declining returns [3][18]. - Guozhong Water's investment of 930 million yuan for a 36.49% stake in Zhuji Wenshenghui has led to significant scrutiny, as its returns have been impacted by the ongoing capital disputes [19][20]. - The uncertainty surrounding Zhuji Wenshenghui's control and the implications for profit distribution have raised concerns among minority shareholders regarding the fairness of their investment returns compared to Zhuji Wenshenghui's nominal stake [20].

北京汇源管理层在公开信中，试图号召现有股东拿回经营的主控权 一场围绕北京汇源饮料食品集团有限公司（下称"北京汇源"）的资本博弈，眼下正在激烈上演。 北京汇源管理层近日罕见发布公开信，直指大股东诸暨文盛汇自有资金投资有限公司（下称"诸暨文盛汇"）存在未缴 足出资，拖欠8.5亿元投资款长达一年，却"掌控实权"的异常状况。此外，大股东还试图通过的资本公积补亏计划，可 能变相剥夺债权人选择权。因此，管理层向其他股东喊话，对大股东进行"限权"。 管理层与大股东发生冲突，已经波及另一股东国中水务。曾经靠入股北京汇源而股价大涨的国中水务，如今的投资收 益大幅下降，控股计划也暂且搁置。 北京汇源与诸暨文盛汇的矛盾，到底有何隐情？第一财经电话联系诸暨文盛汇，接线人员表示"不太了解这一事情"， 北京汇源的电话一直未接通。而国中水务工作人员则在电话中称，这是北京汇源内部事务，该公司是北京汇源的间接 投资方，还是会以国中水务自身利益为主。关于对赌情况，到期后根据协议相关情况来（处理）。 管理层呼吁股东"夺权" 北京汇源管理层在公开信中，试图号召现有股东拿回经营的"主控权"。 诸暨文盛汇是北京汇源的第一大股东，目前持股比例达到60%。 ...

文 | 无冕财经 杨一轩 编辑 | 陈涧 这一次，汇源果汁是豁出去了。 8月9日，其母公司北京汇源食品饮料有限公司（下称"北京汇源"），在其微信公众号发布公开信，指责 大股东涉嫌出资不实、滥用控制权，表示已经提起诉讼，呼吁其他股东和债权人也采取法律手段维权。 三年前重整时约定的16亿出资款中，有超过一半资金仍未到账，这三年来，北京汇源估计主要靠自身力 量维持经营，实现连续盈利。 公开叫板昔日"白衣骑士"，试图拉拢其他股东对抗，还表示已经提起诉讼，北京汇源以撕破脸的方式放 手一搏。"国民果汁"似乎再次被资本算计。 而在今年5月，汇源果汁也因为国中水务（600187.SH）终止收购，陷入"被资本耍了"争议。但此前意欲 拿下控制权的国中水务，早就已经给了汇源大股东逾9亿的真金白银。 但事实的确如此吗？ 公开叫板大股东 北京汇源被资本"伤"了。 这样看来，在围绕汇源果汁的争斗中，国中水务及其背后的南通前首富姜照柏，似乎充当了一回"冤大 头"。 | 定遍 汇源 尊 6个朋友关注 | +关注 | ים | s | ರಿ | 0 | | --- | --- | --- | --- | --- | --- | | | | 1 ...