Group 1 - The recent legal issues for Hangzhou Zhang Xiaoqin Group Co., Ltd. include a new execution order with a target amount exceeding 3.13 billion yuan, issued by the Zhejiang Province Hangzhou Intermediate People's Court [2] - The company has a total of 6 execution orders with a cumulative amount exceeding 3.8 billion yuan, and its legal representative Zhang Zhangsheng has been restricted from high consumption [2] - Zhang Xiaoqin's main business is known for knife products, and the company achieved its best performance in 2021 with a revenue of 760 million yuan and a net profit of 78.73 million yuan [2] Group 2 - The net profit of Zhang Xiaoqin has been declining since its peak year, with net profits of 41.49 million yuan in 2022 and 25.12 million yuan in 2023, which is only about 30% of the profit in the year of listing [2] - In the first three quarters of 2024, Zhang Xiaoqin reported a revenue of 640 million yuan, a year-on-year increase of 12.4%, and a net profit of 17.2 million yuan, an increase of 85.5% [2] - The total market value of the company is 2.55 billion yuan, with a price-to-earnings ratio exceeding 100 based on the 2023 net profit [2] Group 3 - The actual controllers of Zhang Xiaoqin are Zhang Guobiao, Zhang Zhangsheng, and Zhang Xincheng, with Zhang Zhangsheng being listed in 19 consumption restriction orders [3] - Zhang Guobiao's shares in Fuchun Holdings Group have been frozen, while Zhang Xincheng remains unaffected [3] - Fuchun Holdings Group has been subject to multiple share freezes and has a total execution amount reaching 4.38 billion yuan, also being listed as a dishonest executor [3]

Core Viewpoint - Zhang Xiaoqin Group is facing severe financial difficulties, with debts exceeding 59.25 billion yuan, leading to court actions and potential restructuring efforts [5][8]. Debt Situation - As of April 2, 2023, Zhang Xiaoqin Group has 8 court execution records, with a total amount exceeding 39 billion yuan [5]. - The group has debts of 80.34 million yuan as a borrower and 512.15 million yuan as a guarantor, totaling approximately 592.49 million yuan [7]. - The company is attempting to mitigate risks through a pre-restructuring process initiated by the court for its indirect controlling shareholder, Fuchun Holdings Group [8]. Corporate History and Recent Events - Zhang Xiaoqin, founded in 1628, has a long history and was recognized as a national intangible cultural heritage [9]. - The company went public in 2021, achieving a market value of 4.6 billion yuan on its first trading day [9]. - The company has faced reputational damage due to incidents like the "garlic smashing" controversy and subsequent penalties for organizing fake reviews [10][11]. Financial Performance - The net profit for Zhang Xiaoqin was 41.49 million yuan in 2022 and 25.12 million yuan in 2023, representing declines of 47.3% and 39.48% year-over-year, respectively [13]. - Sales expenses have increased from 117 million yuan in 2021 to 148 million yuan in 2023, despite declining revenues [13]. - As of April 3, 2023, the stock price of Zhang Xiaoqin was 15.25 yuan, nearly halving from its peak [13].

红星资本局4月3日消息，近日，"刀剪第一股"张小泉（301055.SZ）控股股东杭州张小泉集团有限公司（以下简称"张小泉集团"）再增被执行信息，引发关 注。 据天眼查APP，4月1日，张小泉集团新增两条被执行信息，共涉及执行标的4700余万元，加上此前的6条被执行人记录，累计被执行金额高达39.05亿元。 2日晚间，张小泉公告称，张小泉集团所持320万股公司股份，将于5月8日在淘宝司法拍卖平台上拍卖。被拍卖原因系张小泉实控人张樟生的一笔金融借款逾 期。 资料图 图据视觉中国 张小泉集团再增两条被执行信息 累计被执行金额39.05亿元 天眼查APP显示，4月1日，张小泉集团再增两条被执行信息，涉及执行标的4700余万元，执行法院均为上海市静安区人民法院。 4月3日，红星资本局查询中国执行信息公开网，暂未查到张小泉集团相关被执行信息。 天眼查APP显示，不久前的3月28日，张小泉集团就因增加高达31.3亿元的执行标的陷入债务风波。 加上此前的6条被执行人记录，张小泉集团累计被执行金额高达39.05亿元，张樟生也被限制高消费。 | | | | 11 11 11 11 11 11 11 1 | | | | --- | ...

2025近日，张小泉控股股东深陷债务危机的消息引发市场震荡。根据公开信息，杭州张小泉集团有限公 司及关联方因多起债务纠纷，累计被执行金额已超38亿元，公司法定代表人张樟生被限制高消费。 这场风波不仅暴露了百年老字号的经营困境，更折射出资本扩张与品牌传承之间的深层矛盾。 老字号转型的警示样本 这场危机揭示了家族企业治理的致命缺陷。张氏兄弟通过复杂股权架构掌控集团，2024年的"二代接 班"被质疑为债务危机下的家族自救，张樟生之子张新尧空降高管层，加剧治理结构的不稳定性。 同时，张小泉重营销轻研发的战略偏差明显，其核心刀剪业务收入占比跌破50%，库存积压达1.65亿 元，与早年占据全国市场半壁江山形成鲜明对比。 刀刃向内的改革之迫 对比同仁堂建立CNAS实验室认证体系、稻香村借力国潮创新产品等成功案例，张小泉的教训印证：老 字号焕新需平衡资本运作与匠人精神。商务部推动的老字号知识产权保护体系，要求企业通过数字化营 销强化消费者情感连接，而非沉迷高风险投资。 控股股东激进扩张埋雷 张小泉集团的债务危机根源在于其间接控股股东富春控股集团的战略失误。富春控股由张樟生之兄张国 标创立，近年来将大量资金投入物流、房地产等非 ...

★ 宏观动态 ★ 中办、国办：推进重要商品现货、期货市场建设，优化期货品种上市、交易、监管等规则 4月2日，外交部发言人郭嘉昆主持例行记者会。法新社记者提问，菲律宾军方负责人表示，如果台湾附近 发生冲突，菲律宾将不可避免地卷入，同时表示中方正在"渗透"菲律宾，包括其军方。中方对此有何评 论？ 郭嘉昆回应，台湾问题是中国的内政，是中国核心利益当中的核心，如何解决台湾问题是中国人自己的 事，不容他人置喙。 郭嘉昆表示，我们奉劝菲律宾有关人士，不要在台湾问题上挑衅玩火，玩火者必自焚。我们也坚决反对有 关人士毫无根据地发表颠倒黑白、抹黑炒作式的言论。 股民跑步进场！A股新开户数快速增长！ 4月2日，上交所披露，今年3月A股新开户数为306.55万户，环比继续快速增长。 数据显示，今年1月、2 月和3月，A股新开户数分别为157万户、283.59万户和306.55万户。 今年3月新增开户数306.55万户， 较2024年3月新开户数242万户，同比增长26.67%。 证券时报记者统计，从今年一季度整体数据来看，A 股新开户数合计747.14万户， 同比2024年一季度567.09万户 增 长31.74%。 有关部门严厉 ...

Core Points - Hangzhou Zhang Xiaoqin Group Co., Ltd. has been executed for 3.13 billion yuan, with total execution amount exceeding 3.8 billion yuan this year, raising concerns about the brand's debt crisis [1][4] - The company claims that it operates independently from its controlling shareholder, Zhang Xiaoqin Co., Ltd., and asserts that the execution will not materially affect its operations [1][4] Group 1 - Hangzhou Zhang Xiaoqin Group was established in January 2001 and is the controlling shareholder of Zhang Xiaoqin Co., Ltd., a listed company [1] - The legal representative, Zhang Zhangsheng, has been restricted from high consumption due to the execution [1] - The brand has faced multiple controversies, including complaints about product quality, specifically regarding knife breakage during use [1][2][4] Group 2 - In March 2023, the company was involved in a public controversy regarding a bone-cutting knife that broke during use, with ongoing investigations into the cause [2] - In October 2023, further complaints were reported about the brand's knives breaking when used to crush garlic, leading to product returns and quality checks [2]

张小泉股份有限公司（以下简称"公司"或"上市公司"）于近日收到公司 控股股东杭州张小泉集团有限公司（以下简称"张小泉集团"）通知，获悉其所 持有的部分公司股份将被浙江省温州市瓯海区人民法院于 2025 年 5 月 8 日 10 时 至 2025 年 5 月 9 日 10 时止（延时除外）在淘宝网司法拍卖网络平台上进行公开 拍卖。现将相关情况公告如下： 注：本公告除特别说明外，数值保留 2 位小数，如存在数据尾差为计算时四舍五入所致。 二、股东股份累计将被司法拍卖的基本情况 证券代码：301055 证券简称：张小泉 公告编号：2025-006 张小泉股份有限公司 关于控股股东所持部分股份将被司法拍卖的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 截至本公告披露日，公司控股股东及其一致行动人所持股份累计将被司法拍 际控制人张樟生先生与张晓之间的金融借款业务提供质押担保。2025 年 2 月 10 日，因债务逾期，张晓向浙江省温州市瓯海区人民法院申请轮候冻结上述股份。 具体内容详见公司分别于 2023 年 10 月 19 日、2025 年 2 月 14 ...

今年以来，百年老字号张小泉深陷债务泥潭中。近日，杭州张小泉集团有限公司（以下简称"张小泉集 团"）等又新增多条被执行人信息。 4月2日上午，"张小泉集团及法人等被执行31.3亿"话题冲上各大平台热搜榜，引发广泛关注。 截至3月25日，张小泉集团直接持有上市公司张小泉7600万股股份，占公司总股本的48.72%，为公司控 股股东。 根据张小泉近期披露的公告，近一年来，张小泉集团因债务违约等问题涉及多起诉讼或仲裁。截至3月 19日，其债务逾期本金、担保违约尚未代偿本金合计超59亿元。 截至3月19日，张小泉集团累计被冻结股份达7600万股，占其所持公司股份总数的100%，占剔除回购股 份后公司总股本的50.19%；累计被轮候冻结股份达1.44亿股，占其所持公司股份总数的189.70%，占剔 除回购股份后公司总股本的95.21%。 据新浪科技，记者致电张小泉股份（301055.SZ）投关部门，相关负责人表示，张小泉集团是张小泉股 份的控股股东，双方在财务、业务、人员等方面均是独立经营，上市公司目前的经营一切正常。针对控 股股东的债务问题或其涉及的冻结事项，投资者可以关注公司公告，公司一直都有对外披露相关事项。 天眼 ...

Core Viewpoint - Zhang Xiaoqin Group, a time-honored brand with nearly 400 years of history, is facing a severe debt crisis, with total execution amounts exceeding 3.8 billion yuan [1][2] Debt Crisis - The company has recently been listed as an executed party with an execution amount of 3.13 billion yuan, bringing the total executed amount to over 3.8 billion yuan [1] - The debt crisis stems from the aggressive expansion strategy of its controlling shareholder, Fuchun Holdings Group, which has invested heavily in non-core business areas like logistics and real estate, leading to a strained cash flow [1] - As of March 2025, 99.9% of Fuchun Holdings' shares in Zhang Xiaoqin have been pledged or frozen, with overdue financing principal amounting to 510 million yuan and unfulfilled external guarantees reaching 4.486 billion yuan [1] Restructuring Efforts - On March 25, the Fuyang District Court decided to initiate a pre-restructuring process for Fuchun Holdings, aiming to isolate risks and prevent the crisis from affecting the listed company [2] - If the restructuring fails, Fuchun Holdings' 48.72% stake in Zhang Xiaoqin may face disposal, potentially leading to a change in control of the listed company [2] Management Changes - In May 2024, Zhang Xiaoqin underwent a management reshuffle, with former chairman Zhang Zhangsheng stepping down and being replaced by Zhang Guobiao's son, Zhang Xincheng, while Zhang Zhangsheng's son, Zhang Xinyao, became a director and deputy general manager [2] - This personnel change is interpreted as a family response to the crisis but raises concerns about the stability of corporate governance [2] Brand Reputation - Zhang Xiaoqin has faced challenges to its brand reputation, including the "cutting garlic knife incident" in 2023, which led to public backlash and subsequent inclusion in the Ministry of Commerce's "rectification list" for time-honored brands [2] - The company's stock price has significantly declined from 38.16 yuan at its IPO in September 2021 to a low of 8.32 yuan in February 2024, resulting in a market value loss of approximately 4.6 billion yuan [2] Future Uncertainty - As a national brand founded in 1628, Zhang Xiaoqin is currently grappling with not only financial difficulties but also a crisis of brand trust, leaving its future development highly uncertain during the critical period of its controlling shareholder's restructuring [2]

据天眼查法律诉讼信息显示，近日，杭州张小泉集团有限公司、上海富春投资有限公司、张樟生、张国标等新增一条被执行人信息，执行标的31.3亿余元， 执行法院为浙江省杭州市中级人民法院，公司法定代表人张樟生被限制高消费。 加上此前的 6 条被执行人记录，累计被执行金额已超38亿元。张小泉这家拥有400年历史的刀剪老字号，正面临前所未有的财务危机。 杭州张小泉集团有限公司成立于2001年1月，法定代表人为张樟生，注册资本约1681.7万人民币，由杭州富泉投资有限公司、杭州张小泉集团有限公司工会 共同持股。 张小泉品牌始创于1628年，以"锋利耐用、工艺精湛"的剪刀著称，曾是最早一批被国家商务部评为中华老字号的民族品牌。 2023年，商务部首次将55个长期经营不善的品牌移出中华老字号名录，对73个经营不佳、业绩下滑的品牌要求限期整改。其中，因"拍蒜刀断"深陷舆论风波 的张小泉被列入"予以整改"名单。 在"拍蒜刀断"风波中，客服 "菜刀不能拍蒜" 以及董事长 "中国人切菜方式不对" 等不当言论，也让消费者更加不满，对张小泉品牌形象造成了极大的损害。 这些负面影响也体现在了资本市场，其上市公司股价从2021年9月上市首日的3 ...