智通财经记者 | 秦李欣 11月25日，西藏发展发布《关于筹划重大资产重组的进展公告》，称其持有拉萨啤酒50%股权，拟现金收购嘉士伯所持该公司另50%股权，交易完成后，将 实现对拉萨啤酒的100%控股，有利于突出主业，提升整体竞争力。 2025年11月25日，西藏发展股份有限公司发布《关于筹划重大资产重组的进展公告》。图：深交所官网 西藏拉萨啤酒有限公司于2004年，由西藏发展股份有限公司和嘉士伯国际有限公司各控股50%成立。但根据当时公布的公告，拉萨啤酒董事会中，西藏发展 占多数席位，且董事长由西藏发展董事担任。也就是说，在这场交易中，嘉士伯更多以股东身份加盟拉萨啤酒，公司实际经营决策权在西藏发展手里。 长达近十年的拉锯战，ST西发（000752.SZ，下称"西藏发展"） 与嘉士伯围绕拉萨啤酒的股权之争，在2025年末迎来一个关键节点。 这场合作与当时中国啤酒市场的浪潮与嘉士伯的战略转向有关。据东吴证券，1992年至2002年期间，百威、嘉士伯、狮王等为代表的国外啤酒品牌纷纷在中 国建立合资企业或外商独资企业。随着2002年，中国超过美国成为世界最大啤酒市场，在华业务受挫的嘉士伯于2003年大胆进军布局中国 ...

一、公司预重整基本情况 西藏发展股份有限公司 关于预重整事项进展暨收到法院对预重整延期决定书的公告 股票代码：000752 股票简称：ST 西发 公告编号：2025-077 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 西藏发展股份有限公司（以下简称"公司"、"西藏发展"）根据《深圳证券交易所股 票上市规则》《深圳证券交易所上市公司自律监管指引第 14 号——破产重整等事项》等相关 规定，公司对预重整事项的进展进行披露。现将相关进展情况公告如下： 2025 年 10 月披露了《关于预重整事项进展暨收到法院对预重整延期决定书的公告》，详细 内容请见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 二、预重整相关进展情况 公司于 2025 年 11 月 25 日收到拉萨中院决定书（2023）藏 01 破申 4 号，主要内容如下： 2023 年 7 月 25 日，公司收到西藏自治区拉萨市中级人民法院（以下简称"拉萨中院" 或"法院"）送达的《决定书》，经债权人申请，拉萨中院决定对公司进行预重整，并指定 上海市锦天城律师事务所担任 ...

ST西发公告称，公司持有拉萨啤酒50%股权，拟现金收购嘉士伯所持该公司另50%股权，交易完成后将 实现100%控股。2025年7月21日，公司董事会通过《西藏拉萨啤酒有限公司50%股权转让及其他事项的 条款清单》，目前除该清单外未签署其他有法律效力文件，交易仍处筹划阶段。此外，公司处于预重整 阶段，存在重整失败被宣告破产及终止上市风险。 ...

股票代码：000752 股票简称：ST 西发 公告编号：2025-076 西藏发展股份有限公司 关于筹划重大资产重组的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、本次筹划交易的基本情况 西藏发展股份有限公司（以下简称"公司"）持有拉萨啤酒 50%股权，为拉萨啤酒控股 股东。为更好地聚焦实业、突出主业、深耕专业领域，公司拟筹划以现金方式收购嘉士伯国 际有限公司（以下简称"嘉士伯"）所持有的拉萨啤酒 50%的股权。若本次交易能够顺利完 成，公司将持有拉萨啤酒 100%的股权，有利于提高公司资产的完整性，增强公司的持续经营 能力，不会导致公司财务状况发生重大不利变化，并且有利于公司突出主业、增强抗风险能 力，提升整体竞争力。 本次交易不涉及发行股份，不构成关联交易，也不会导致上市公司控股股东和实际控制 人发生变更。 二、筹划交易的进展情况 2025 年 7 月 21 日，公司第十届董事会第三次会议审议通过了《西藏拉萨啤酒有限公司 50%股权转让及其他事项的条款清单》，目前交易双方除就《西藏拉萨啤酒有限公司 50%股 权转让及其他事项的条款清单》初步 ...

Market Overview - The non-liquor sector experienced a decline of 0.95% on November 18, with Yanjing Beer leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Key stocks in the non-liquor sector showed varied performance, with ST Xifa closing at 12.32, up 0.49%, while other notable declines included Caijing Beer down 2.41% to 12.14 and Huichuan Beer down 2.41% to 12.15 [2] - The trading volume and turnover for selected stocks indicated significant activity, with Chongqing Beer recording a turnover of 1.33 billion and ST Xifa at 47.48 million [1][2] Capital Flow - The non-liquor sector saw a net outflow of 109 million from major funds, while retail investors contributed a net inflow of 115 million [2] - Detailed capital flow data showed that ST Xifa had a net inflow of 671,900 from major funds, while other stocks like ST Yedao experienced significant outflows [3]

Market Performance - The non-liquor sector increased by 0.74% compared to the previous trading day, with ST Xifa leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Stock Highlights - ST Xifa (000752) closed at 12.22, with a rise of 2.43% and a trading volume of 58,400 shares, amounting to a transaction value of 70.30 million [1] - CITIC Nia (600084) closed at 5.96, up 2.41%, with a trading volume of 96,700 shares and a transaction value of 57.06 million [1] - Pearl River Beer (002461) closed at 9.84, increasing by 2.18%, with a trading volume of 192,200 shares [1] - Huichuan Beer (600573) closed at 12.33, up 1.57%, with a trading volume of 66,740 shares and a transaction value of 82.34 million [1] Fund Flow Analysis - The non-liquor sector experienced a net outflow of 67.92 million from institutional investors, while retail investors saw a net inflow of 105 million [2] - The main stocks with significant fund flow include: - Piao Pan Sha Xu (600600) with a net inflow of 18.97 million from institutional investors [3] - CITIC Nia (600084) with a net inflow of 3.87 million from institutional investors [3] - ST Xifa (000752) with a net inflow of 3.01 million from institutional investors [3]

Market Overview - The non-liquor sector increased by 0.69% compared to the previous trading day, with ST Xifa leading the gains [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Stock Performance - ST Xifa (000752) closed at 11.93, up 3.38% with a trading volume of 71,300 shares and a transaction value of 84.28 million [1] - Wujing Beer (000729) closed at 12.73, up 2.33% with a trading volume of 419,300 shares [1] - Other notable performers include *ST Lanhua (000929) up 2.29%, CITIC Niyah (600084) up 1.39%, and Huishan (601579) up 0.88% [1] Capital Flow Analysis - The non-liquor sector experienced a net outflow of 28.91 million from institutional investors and 32.46 million from retail investors, while retail investors saw a net inflow of 61.37 million [2] - The capital flow data indicates a mixed sentiment among different investor types, with retail investors showing a positive trend [2] Individual Stock Capital Flow - Kuaijishan (601579) had a net outflow of 57.29 million from institutional investors, while it saw a net inflow of 2.66 million from retail investors [3] - Zhirun Co. (002568) experienced a net inflow of 829.31 thousand from institutional investors, but a net outflow from retail investors [3] - Other stocks like ST Xifa (000752) and Pearl River Beer (002461) also showed varied capital flows, indicating differing investor confidence [3]

Core Points - ST Xifa (000752.SZ) announced that the original controlling shareholder Tianyi Longxing's fund occupation of 7,365,468.91 yuan has been cleared through debt transfer [1] - The fund occupation of 331,390,718.71 yuan by the then-controlling shareholder Shengbang Holdings and its related parties has also been fully cleared, with 150 million yuan settled through debt compensation and 181 million yuan repaid by the restructuring investor [1] - As of now, the company's fund occupation issue has been rectified, and there are no longer any instances of fund occupation [1]

股票代码：000752 股票简称：ST 西发 公告编号：2025-075 西藏发展股份有限公司 关于资金占用事项被实施其他风险警示的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 因西藏发展股份有限公司（以下简称"公司"、"上市公司"）原控股股东西藏天易隆兴投资有 限公司（以下简称"天易隆兴"）资金占用事项触及《深圳证券交易所股票上市规则》相关规定 情形，公司股票自 2019 年 4 月 10 日被实行其他风险警示。根据《深圳证券交易所股票上市规 则》相关规定，公司就相关资金占用事项的相关情况公告如下： 一、公司原控股股东资金占用情况 公司 2021 年第三次临时股东大会审议通过了《关于资金占用解决方案的议案》。上市公司 将因资金占用事项对天易隆兴享有的 7,365,468.91 元债权转让予控股股东西藏盛邦控股有限公 司（以下简称"盛邦控股"），盛邦控股已一次性完成转让对价支付，公司原控股股东天易隆兴 对上市公司的资金占用余额 7,365,468.91 元得以清偿。 二、公司时任控股股东及关联方资金占用情况 1/西藏发展股份有限公司 经过上述清偿整 ...

Market Overview - On November 7, the non-liquor sector declined by 0.18% compared to the previous trading day, with *ST Lanhuang leading the decline [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable stock performances in the non-liquor sector included: - Mogao Co., Ltd. (600543) closed at 6.49, up 0.46% with a trading volume of 48,300 shares and a turnover of 31.33 million yuan [1] - Jiu You Limited (000729) closed at 11.71, up 0.26% with a trading volume of 100,500 shares and a turnover of 118 million yuan [1] - Huaiqiang Mountain (601579) closed at 21.43, up 0.23% with a trading volume of 110,300 shares [1] - *ST Lanhuang (000929) closed at 8.63, down 1.82% with a trading volume of 30,400 shares and a turnover of 26.38 million yuan [2] Capital Flow - The non-liquor sector experienced a net outflow of 54.49 million yuan from institutional investors, while retail investors saw a net inflow of 38.48 million yuan [2] - The capital flow for specific stocks showed: - Zhujiang Beer (002461) had a net inflow of 4.25 million yuan from institutional investors, but a net outflow of 3.61 million yuan from retail investors [3] - *ST Lanhuang experienced a net outflow of 1.70 million yuan from institutional investors [3]