外部收购失败，内部斗争不息，风雨飘摇中的国民果汁品牌汇源果汁，又曝出大瓜。3个月前刚公开声明否认"被资本耍了"的他们，如今再发声明称要抵 制"恶意资本游戏"。 与此同时，北京汇源还牵扯多桩官司，包括公司起诉上层股东、董事长起诉公司等。 北京汇源深夜"手撕"大股东 呼吁全体职工"抵制恶意资本游戏" 8月14日深夜，汇源果汁背后公司北京汇源食品饮料有限公司（下称北京汇源）官方微信号发文称，大股东诸暨文盛汇于8月11日在其办公场所召开临时股 东会，单方自行进行表决，北京汇源方的职工监事拟对会议合法性提出异议，却被主持方通过强行关闭麦克风阻止发言。'' 北京汇源工会委员会呼吁公司各部门和全体职工不执行该临时股东会的决议，不承认该临时股东会选举的董事。 截图来自汇源官方公众号 该文还提到，诸暨文盛汇打着重整投资的旗号，但一半投资义务都未能履行，已投入的资金却全部由其直接管控，对北京汇源只是画饼充饥，并非真实投 资，与北京汇源现有资产无关，丝毫未投入北京汇源的经营运转、对北京汇源的现有利润未有任何贡献。北京汇源呼吁全体职工共同抵制这种恶意资本游 戏。 不过，北京汇源并未公开披露该临时股东会通过的决议是什么，以及选举的董事 ...

此前8月9日，北京汇源一封《公开信》，将公司管理团队和大股东诸暨文盛汇的矛盾公开化。一度陷入债务危机的北京汇源，在2023年完成债务重整，并在 2023年、2024年均实现盈利，在经营逐步脱困的局面下，公司如今却又陷入多方角力的资本乱局。 同样陷入其中的还有A股上市公司国中水务，作为诸暨文盛汇背后的资方，其前后共计斥资9.3亿元谋求控股北京汇源，却最终"为别人做了嫁衣"，期间中小 股东利益是否充分得以保护？ 汇源陷多方角力 8月14日深夜，北京汇源通过公司账号发布《关于2025年第三次临时股东会合法有效性的异议函》，称公司工会委员会对临时股东会的召集、召开程序及审 议内容进行了审慎研究，认定本次会议及其将形成的决议不具备合法有效性，并呼吁公司各部门及全体职工不承认股东会的合法性，不执行股东会的决议， 不承认股东会选举的董事。 有接近北京汇源人士向新华财经表示，诸暨文盛汇在临时股东会上提出议案罢免董事长，但会前没有通知董事会办公机构，也未通知董事长出席会议。 此前8月9日，北京汇源发布《致全体股东及转股债权人的公开信》（下称"公开信"），指其控股股东诸暨文盛汇未按重整协议履行出资义务，并谋划于8月 11日召开临 ...

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]

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。 无冕财经 . 奉守"专业主义，内容为王"，为优质的商业阅读而生。多次获评"年度财经自媒体"，入选胡润百富"广州最值得投资的企业"榜单50强，广州市新阶联自媒 体分会副会长单位，入驻全网20多个平台，覆盖1000万+商务人群，中国财经新媒体的中坚力量之一。 来源|无冕财经 作者|杨一轩 编辑|陈涧 大股东数亿投资款迟迟不给，想借助国中水务曲线上市，又因粤民投冻结股权被迫终止，汇源果汁的复兴之路，很是坎坷。 这一次，汇源果汁是豁出去了。 以下文章来源于无冕财经 ，作者无冕财经团队 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。 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 ...

2025.08. 14 本文字数：4348，阅读时长大约8分钟 作者 | 第一财经 王方然 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 ...

Core Viewpoint - The public letter from Beijing Huiyuan Food and Beverage Co., Ltd. highlights the ongoing issues with its shareholder, Zhuji Wenshenghui, including allegations of governance manipulation and the failure to fulfill investment commitments, raising concerns about the company's future and its search for new investors [1][2][3] Group 1: Company Governance and Shareholder Issues - Beijing Huiyuan accuses Zhuji Wenshenghui of proposing to use capital reserves to cover losses, which could deprive creditors of their rights and options [2][4] - Zhuji Wenshenghui has only contributed 22.8% of its promised investment, with 8.5 billion yuan overdue for over a year, despite multiple reminders from Beijing Huiyuan [3][4] - A lawsuit has been filed against Zhuji Wenshenghui for failing to meet investment obligations, but its control over the board may hinder the legal process [3][4] Group 2: Financial Situation and Debt Management - Beijing Huiyuan's total liabilities are approximately 8 billion yuan, with Zhuji Wenshenghui's investment primarily allocated to operational upgrades rather than debt repayment [7][8] - The company has faced significant financial challenges, including a history of negative net profits and a high debt-to-asset ratio, leading to its delisting from the Hong Kong Stock Exchange in 2021 [8][9] - The restructuring plan approved in June 2022 was seen as crucial for the company's future, but concerns remain about the effectiveness of the current management and governance structure [6][9] Group 3: Market Reactions and Future Prospects - The involvement of Zhuji Wenshenghui was initially viewed positively, but its lack of follow-through on investment commitments has led to skepticism about the company's recovery [1][10] - National Water Resources, which had invested in Huiyuan, has also faced declining revenues and has abandoned plans to become a controlling shareholder due to ongoing uncertainties [12][13] - The public disclosure of these issues aims to increase scrutiny and pressure on Zhuji Wenshenghui to fulfill its obligations, potentially creating more negotiation space for Beijing Huiyuan [5][6]

自2022年重整成功后，汇源果汁这家"国民饮料"何时才能重返巅峰便受到关注。重整至今三年，汇源果 汁仍未完全走出困境，与此同时，该公司内部矛盾却先走向公开化。 8月9日，北京汇源食品饮料有限公司（简称为"汇源"或"汇源果汁"）直接发文"控诉"股东诸暨文盛汇自 有资金投资有限公司（简称为"诸暨文盛汇"），直指后者出资不实、变相剥夺债权人选择权、股东权益 分配不公、管理权扭曲等，并呼吁股东和债权人对诸暨文盛汇侵害行为进行抵制、限制、起诉。 汇源直指大股东"三宗罪" 2022年6月，作为重整投资人的上海文盛资产管理股份有限公司（下称"文盛资产"）通过其持股平台诸 暨文盛汇，承诺投入16亿元资金重整北京汇源，并取得其70%控股权。 诸暨文盛汇及其背后的文盛资产曾被视为汇源的"白衣骑士"，如今又为何被后者控诉呢？ 如今，三年已过，诸暨文盛汇承诺的投资款未完全到位的同时，该公司还提议以北京汇源资本公积弥补 亏损，而这也是本次汇源发文控诉的直接导火索。 汇源方面8月9日发文指出，股东诸暨文盛汇提议在8月11日召开临时股东会。据汇源方面披露，诸暨文 盛汇提议以北京汇源资本公积弥补亏损，而该提案或将损害债权人的利益。 汇源方面 ...

Core Insights - The report highlights the significant role of company secretaries (董秘) in connecting investors and listed companies, with a total salary of 4.086 billion yuan for A-share listed company secretaries in 2024, averaging 754,300 yuan per year [1] - The average salary for company secretaries in the environmental governance sector is approximately 643,400 yuan, with the highest salary being 1.5239 million yuan and the lowest at 135,500 yuan [1] Salary Trends - The average salary for company secretaries in 2024 decreased by 16,300 yuan compared to 2023, representing a decline of 4% [3] - The distribution of salaries shows that the majority (49%) of company secretaries earn between 500,000 and 1 million yuan [1] Age and Education Distribution - The average age of company secretaries is approximately 44.29 years, with the majority (49%) aged between 40 and 49 [3] - Educational qualifications show that there are 2 PhDs, 38 Master's degrees, 44 Bachelor's degrees, and 3 Associate degrees among company secretaries, with corresponding average salaries of 1.127 million yuan, 653,600 yuan, 616,500 yuan, and 490,100 yuan respectively [5] Compliance and Violations - A total of 9 company secretaries received warnings or public notifications for violations in 2024-2025 [7] - Specific cases include: - Zhuang Jianlong from Guozhong Water received 2 warnings and was fined 1.75 million yuan for non-compliance, with a salary of 370,000 yuan [8] - Fang Guangquan from Jinyuan Co. received 2 warnings and was fined 400,000 yuan, with a salary of 1.0978 million yuan [9]

Core Viewpoint - The public letter from Beijing Huiyuan Food and Beverage Co., Ltd. highlights a conflict regarding the capital injection obligations of its controlling shareholder, Wen Shenghui, and raises concerns about potential unfair profit distribution that could undermine the company's recovery efforts [2][5][8]. Group 1: Capital Injection Issues - Wen Shenghui has failed to fulfill its capital injection obligations as per the restructuring agreement, with 8.5 billion yuan overdue for over a year [3][4]. - As of January, Beijing Huiyuan received only 7.5 billion yuan from Wen Shenghui, which is significantly less than the promised 16 billion yuan for a 70% stake [3][4]. - The company claims that Wen Shenghui's actions may force creditors to passively accept debt-to-equity swaps, stripping them of their rights [5][6]. Group 2: Impact on Creditors - The capital reserve of approximately 68.9 billion yuan includes uncertain amounts from debt-to-equity swaps, affecting creditors' rights [5][6]. - There are 17 creditors who have not yet received shares, corresponding to 55.3 billion yuan in capital reserves, which could be impacted by Wen Shenghui's proposal [5][6]. - The proposal to use capital reserves to cover losses could hinder creditors' ability to exercise their rights over collateral or leased assets [6]. Group 3: Profit Distribution Concerns - The proposal by Wen Shenghui may pave the way for distributing the company's undistributed profits, raising concerns about fairness in profit allocation [7][8]. - Disputes over the actual capital contributions have persisted, with Beijing Huiyuan asserting that only a portion of the 7.5 billion yuan is recognized as paid-in capital [7][8]. - The company emphasizes that Wen Shenghui's actual capital contribution corresponds to only 22.8% of the registered capital, not the claimed 60% [8].

2025.08. 11 本文字数：1972，阅读时长大约3分钟 作者 | 第一财经 栾立 随着证券化之路受阻，资本运作遇挫后，北京汇源食品饮料有限公司（下称"北京汇源"）内部矛盾逐步公开化。 2022年6月汇源果汁重整计划获批后，文盛资产成为新控股股东，并承诺投入16亿元资金重启汇源。诸暨文盛汇和天津文盛汇分别持有重整后 的北京汇源60%和10%的股份。同时，文盛资产承诺为汇源设计证券化方案，力争三至五年内实现A股上市，并引入国中水务（600187.SH） 作为合作方。 8月9日下午，北京汇源通过官方公众号发布《致全体股东及转股债权人的公开信》，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"）涉嫌出资不实、滥用控制权，并可能损害中小股东及债权人利益。 公告称，诸暨文盛汇已提议于8月11日召开北京汇源2025年第三次临时股东会，议题包括以北京汇源资本公积弥补亏损。但北京汇源提示称， 公司当前资本公积总额中半数以上存在不确定性，若此时以资本公积弥补亏损，等于逼迫相关债权人被动确认债转股行为，变相剥夺了该等 债权人的选择权。 与此同时，北京汇源在公告中指责大股东诸暨文盛汇实缴出资仅占北京汇源注册资本 ...