汇源发布公开信

Core Viewpoint - Beijing Huiyuan Food and Beverage Co., Ltd. has publicly accused its major shareholder, Zhuji Wenshenghui, of failing to fulfill capital contribution obligations and manipulating corporate governance, which has harmed the rights of minority shareholders [2][3][9]. Group 1: Conflict and Legal Actions - The public letter highlights the conflict between Beijing Huiyuan and Zhuji Wenshenghui, bringing attention to the latter's control over the company and the implications for minority shareholders [5][9]. - Beijing Huiyuan has initiated legal action against Zhuji Wenshenghui and Wensheng Assets for failing to meet investment commitments, which has been accepted by the court [10]. - The company has called for shareholders to take specific actions, including limiting the rights of Zhuji Wenshenghui due to unfulfilled capital contributions and seeking judicial remedies against resolutions passed under the abuse of control [10]. Group 2: Financial and Operational Concerns - Zhuji Wenshenghui committed to invest 1.6 billion yuan but has only contributed 22.8% of the registered capital, with an overdue amount of 850 million yuan [9]. - The actual funds paid have not been utilized for production and operations, raising concerns about "false capital contributions" [9]. - The current equity structure allows Zhuji Wenshenghui to hold 60% of shareholder rights despite only contributing a fraction of the capital, which could significantly dilute the interests of minority shareholders in future distributions [9]. Group 3: Implications for Related Companies - The situation has implications for Guozhong Water, which has invested in Beijing Huiyuan through Zhuji Wenshenghui, raising concerns about the uncertainty of investment returns following the lawsuit [11][12]. - Guozhong Water's previous plans to acquire additional shares from Shanghai Yongrui have been hindered due to legal disputes, leading to a freeze on shares [13]. - The financial performance of Guozhong Water has been under scrutiny, with a reported revenue of 179 million yuan in 2024, a decrease of 20.73% year-on-year, and a net profit of 43.58 million yuan, indicating a complex financial landscape [15].