每经记者｜黄辛旭 每经编辑｜孙磊 高合汽车似乎迎来了"命运"的转机。 天眼查App显示，5月22日，江苏高合汽车有限公司成立，法定代表人为Jihad Mohammad，注册资本约1.43亿美元。工商登记信息显示，该公司经营范围包 括道路机动车生产、货物进出口等。 江苏高合汽车有限公司由黎巴嫩公司EV Electra Ltd.和华人运通（江苏）技术有限公司共同持股，前者出资1亿美元（约合7.2亿元人民币）持股比例为 69.8%，后者出资4326.65万美元（约合人民币3.1亿元）持股比例为30.2%。 图片来源：天眼查 图片来源：EV Electra Ltd官网 有消息称，高合汽车盐城工厂已经启动了复工环评，用于生产原车型，维持15万产能不变。5月22日，《每日经济新闻》记者拨通了高合官方网站电话，其 工作人员表示："目前没有官方的消息。高合汽车截止到今天还处于停工停产的状态。新车的销售、交付全都是暂停的，但是相关的售后服务这些一直在正 常运营之中。" 回顾来看，2024年2月经营开始出现困难之后，高合汽车一直在挣扎求生。 2024年7月，高合汽车母公司华人运通（江苏）技术有限公司以"资产不能清偿全部到期债务， ...

Core Viewpoint - Ningbo Shanshan Co., Ltd. is undergoing a substantial merger and restructuring process involving its controlling shareholder, Shanshan Group, and its wholly-owned subsidiary, Ningbo Pengze Trading Co., Ltd. The first creditors' meeting was held to discuss the formation of a creditors' committee and related proposals [1][4]. Group 1: Creditors' Committee Formation - The creditors' committee will consist of up to seven members, including the meeting chair and a representative of employees, with five additional seats filled by representatives from specific creditor groups [1][3]. - The meeting resulted in the approval of candidates for the creditors' committee, with 130 creditors supporting the nomination of Industrial Bank Co., Ltd. Ningbo Branch, representing 89.19% of the voting creditors [2][3]. - The meeting also approved the establishment of an investor selection group composed of authorized representatives from five major creditors and representatives from local financial authorities [3]. Group 2: Meeting Procedures and Voting - The creditors' meeting adopted rules for the committee's proceedings to ensure effective decision-making and oversight [2][3]. - A proposal to hold future creditors' meetings and voting in a non-physical format was also approved, aimed at reducing costs and improving efficiency [3][4]. - The resolutions passed at the meeting require a majority vote from creditors present, representing more than half of the total unsecured debt [3]. Group 3: Company Status and Shareholding - As of May 19, 2025, Shanshan Group holds 320,296,700 shares of the company, accounting for 14.21% of total equity, while Pengze Trading holds 205,264,756 shares, representing 9.11% [4]. - The shares held by both Shanshan Group and Pengze Trading are subject to significant pledges and judicial freezes, indicating potential risks to their control over the company [4][5]. - The restructuring process does not currently impact the company's normal operations, and the company maintains independent business capabilities [4].

未来，汇源果汁要想突破当前困境，不仅需要应对来自同行的竞争，还需在产品创新和渠道拓展上下功 夫。多方夹击之下，汇源果汁的翻身之路依然充满挑战。 本文源自：金融界 作者：观察君 尽管汇源果汁在重整后业绩有所提升，但其在NFC（非浓缩还原汁）等主流果汁赛道上的布局却难以与 后来者抗衡。此外，汇源果汁的主要销售渠道曝光量较低，导致品牌认知度下降。农夫山泉、统一企业 等竞争对手在果汁饮料品类上迅速增长，进一步挤压了汇源果汁的市场份额。 国中水务自2022年起多次尝试收购汇源果汁，但因种种原因未能成功。2024年7月，国中水务宣布拟以 支付现金方式向上海邕睿收购诸暨文盛汇的相关份额，从而成为北京汇源的间接控股股东。然而，由于 粤民投提起的侵权责任纠纷，上海邕睿持有的诸暨文盛汇股权被法院冻结，导致交易无法推进。最终， 国中水务决定终止此次收购。 汇源果汁在声明中表示，面对部分媒体/自媒体的恶意诋毁行为，公司将采取法律措施保障自身合法权 益。同时，汇源果汁呼吁广大网友和消费者理性甄别信息，共同维护健康的网络环境。尽管汇源果汁否 认外界对其的负面传闻，但其在当前市场环境下的生存状况已不可同日而语。 2025年4月23日，国中 ...

Core Viewpoint - Huayuan Juice has publicly refuted negative rumors about its business status, asserting that its operations have been improving since its successful restructuring in 2022, and it has regained its position as the top seller of 100% juice in China [3][11]. Group 1: Company Background and Recent Developments - Huayuan Juice was once a leading player in the domestic juice market, with a significant market share in the mid-to-high-end segment [6]. - The company faced severe financial difficulties leading to bankruptcy restructuring in 2022, after which it received a capital injection from Wen Sheng Asset, which invested 1.6 billion yuan and became the controlling shareholder [10]. - Following the restructuring, Huayuan Juice reported a revenue of 27.45 billion yuan in 2023, with a net profit of 4.24 billion yuan [11]. Group 2: Market Position and Competition - Despite improvements, Huayuan Juice's current market position is not comparable to its peak, as it struggles to compete in the mainstream NFC juice segment against newer entrants [7][15]. - Competitors like Nongfu Spring and Uni-President have shown significant growth, with Nongfu Spring's juice revenue increasing by 15.6% in 2024, reaching 4.085 billion yuan [17]. - Huayuan Juice's visibility in retail channels is reportedly lower than that of its competitors, with limited product offerings in major supermarkets [19][20]. Group 3: Challenges and Future Outlook - The termination of a planned acquisition by Guozhong Water in April 2025 has added to the challenges faced by Huayuan Juice, complicating its path to potential public listing [12][14]. - The company is currently perceived as lagging in product innovation and market presence, needing significant time to overcome these barriers [21].

Core Viewpoint - Huayuan Juice has publicly refuted negative rumors about its business status, asserting that its operations have been improving since its successful restructuring in 2022, and it holds the title of "100% juice national sales leader" as certified by a third-party agency [1][2]. Company Overview - Huayuan Juice was once a leading player in the domestic juice market, with a significant market share in the mid-to-high-end segment. However, after a failed acquisition attempt by Coca-Cola in 2008, the company faced a decline, leading to its bankruptcy restructuring in 2022 [2][3]. - The company primarily produces concentrated juice and juice blends, but it has struggled to compete in the mainstream NFC (Not From Concentrate) juice segment against newer entrants [2][6]. Financial Performance - Following the intervention of Wensheng Asset Management, Huayuan Juice's financial performance has shown improvement. In the second half of 2022, the company reported revenues of 1.159 billion yuan with a loss of 84 million yuan. In 2023, revenues increased to 2.745 billion yuan, resulting in a net profit of 424 million yuan [4]. - The company’s revenue growth is contrasted with competitors like Nongfu Spring and Uni-President, which have seen significant increases in their juice product revenues [6][8]. Market Position and Challenges - Despite Huayuan Juice's claims of operational stability, its market presence has diminished compared to its peak. The company faces stiff competition from leading brands that are rapidly expanding their market share [6][7]. - Observations from various retail outlets indicate that Huayuan Juice's product offerings are limited, with fewer varieties available compared to competitors like Nongfu Spring, which has a broader range of juice products [7][8]. - Consumer awareness of Huayuan Juice appears to be low, with many not actively seeking out the brand in retail environments [7][8]. Future Prospects - The termination of a planned acquisition by Guozhong Water has added uncertainty to Huayuan Juice's future, particularly regarding its potential for public listing [4][6]. - The company is currently in a position where it must innovate and expand its product offerings to regain market competitiveness, especially in the growing segments of NFC and HPP (High Pressure Processing) juices [6][8].

Core Viewpoint - The company is conducting an auction to dispose of inefficient assets as part of its restructuring plan approved by the Guangzhou Intermediate People's Court, aiming to improve its asset structure and operational capabilities [2][5][15]. Group 1: Auction Overview - The auction is based on the restructuring plan approved by the Guangzhou Intermediate People's Court, which includes the disposal of inefficient assets [2][3]. - The auctioned assets include a 3.0236% stake in Beijing Haidian Technology Financial Capital Holdings Group Co., Ltd., a 70% stake in Minsheng Leasing Co., Ltd., a 12.2298% stake in Shanghai Weijie Information Technology Service Co., Ltd., and a 25% stake in Tianjin Minsheng International Financing Leasing Co., Ltd. [2][6]. - The auction will take place on the JD.com bankruptcy auction platform from May 28, 2025, to May 29, 2025 [8]. Group 2: Auction Details - The starting price for the 3.0236% stake in Beijing Haidian Technology Financial Capital Holdings Group is approximately 41.81 million yuan, with a deposit of about 8.36 million yuan [9]. - The starting price for the 70% stake in Minsheng Leasing is approximately 52.94 million yuan, with a deposit of about 10.59 million yuan [10]. - The starting price for the 12.2298% stake in Shanghai Weijie Information Technology is 66 million yuan, with a deposit of 13.2 million yuan [11]. - The starting price for the 25% stake in Tianjin Minsheng International Financing Leasing is approximately 12.56 million yuan, with a deposit of about 2.51 million yuan [12]. Group 3: Impact on the Company - The auction aims to improve the company's asset structure and quality, which is expected to enhance its operational focus and profitability if successfully completed [15].

Core Viewpoint - The announcement of the termination of a major asset restructuring by Guozhong Water (国中水务) has led to negative rumors about Huiyuan Juice (汇源果汁), which the company has strongly refuted, asserting that its operations are stable and improving since its restructuring in 2022 [1][2][5]. Group 1: Company Background - Huiyuan Juice, established in 2006, is a leading company in the domestic high-concentration juice market, known for its slogan "Having Huiyuan means celebrating the New Year" [9]. - The company raised HKD 2.4 billion in its IPO in 2007, becoming the largest IPO on the Hong Kong Stock Exchange that year, but it was delisted in 2021 and underwent bankruptcy restructuring [9]. - In June 2022, Huiyuan Juice's restructuring plan was approved, with Wensheng Assets becoming its controlling shareholder and planning to invest CNY 1.6 billion to restart operations [9]. Group 2: Recent Developments - In 2023, Huiyuan Juice reported a revenue of CNY 2.745 billion and a net profit of CNY 424 million, with a non-recurring net profit of CNY 393 million, indicating operational improvement [9]. - Guozhong Water announced plans to acquire shares of Zhuhai Wensheng Hui, which would indirectly control Huiyuan Juice, but the acquisition was halted due to the freezing of the target equity [5][9]. - The ongoing legal disputes involving Wensheng Assets and other parties have resulted in the freezing of shares, impacting the asset restructuring process [9].

"浙江猪王"天邦食品的重整取得了重要进展。 21世纪经济报道记者 董鹏 成都报道 根据近期公告，该公司已经与厦门建发物产有限公司（下称"建发物产"）、南宁漓源粮油饲料有限公司 （下称"南宁漓源"）签署《重整投资协议》，同时法院也批准其预重整再次延长至2025年11月9日。 以上两家公司均为产业投资者，具体业务涉及油脂油料、饲料原料和生猪养殖等领域，属于天邦食品的 上游和同行。 另据相关投资协议，在重整完成后，建发物产、南宁漓源将分别持有天邦食品2亿股，低于公司实控人 张邦辉的持股数量，所以也不会导致公司实控人变更。 需要指出的是，相较于上一轮猪周期进行重整的正邦科技、*ST傲农，天邦食品是主动申请重整，公司 资产质地较好，债务问题也没有特别严重。 仅以养殖企业的重要评价指标为例，2025年一季度，天邦食品生猪育肥完全成本13.62元/公斤，如果剔 除空栏费，其完全成本可以低至13.14元/公斤，公司还是少数几家出栏量达到过700万头的大型养殖企 业。 放在A股行业内部，天邦食品的成本、出栏量虽然无法与牧原股份等行业龙头相比，但是占据一个二线 主力的名额问题不大，这可能也是能够吸引到上述投资人的原因。 重整投资 ...

5月12日，*ST金科开盘即涨停，收涨4.7%。继5月8日以来，该股已出现两次涨停。 就在此前一天，5月11日，金科地产集团股份有限公司（下称"金科股份"）连发四条公告，发布金科集 团重整计划，重庆金科重整计划，宣布公司及全资子公司重整计划获法院裁定批准。 截至重整受理日，金科股份职工债权金额为4201.4万元，涉及职工 299 名。 重整计划指出，金科股份假定破产清算状态下的普通债权清偿率为 3.02%，但这一比例仍存在很大的不 确定性，金科股份实际破产清算状态下的普通债权清偿率较上述预估并不乐观。 母公司和子公司涉及重整债务达千亿 公开数据显示，作为重庆市有史以来最大的重整案，金科股份及重庆金科重整涉及的债务规模达1470亿 元，债权人数量超8400家。 在集团方面，从《金科地产集团股份有限公司重整计划》（下简称《重整计划》）可见，截至 2024 年 12 月 10 日，经管理人审查，金科股份普通债权总金额为755.34亿元，涉及债权人6019家（户），其 中：确认的普通债权金额为 540.88亿元，涉及债权人5241家（户）；根据担保财产评估价值，因无法就 担保财产优先受偿的需列入普通债权组的债权金额为 ...

Core Viewpoint - The article emphasizes that recent negative rumors about Huiyuan Juice are unfounded and malicious, asserting that the company has been operating normally and improving since its successful restructuring in 2022 [1][3]. Group 1: Company Background and Recent Developments - Huiyuan Juice, established in 2006, was once a leading brand in the domestic high-concentration juice market, known for its slogan "Having Huiyuan means celebrating the New Year" [3]. - The company went public in Hong Kong in 2007, raising HKD 2.4 billion, but was delisted in 2021 and underwent bankruptcy restructuring [3]. - In June 2022, Huiyuan's restructuring plan was approved, with Wen Sheng Assets becoming the controlling shareholder and planning to invest CNY 1.6 billion to restart operations [3][4]. Group 2: Financial Performance - After restructuring, Huiyuan Juice reported a revenue of CNY 11.59 billion in the second half of 2022, with a net loss of CNY 0.84 billion [4]. - In 2023, the company achieved a revenue of CNY 27.45 billion and a net profit of CNY 4.24 billion, with a non-recurring net profit of CNY 3.93 billion [4]. Group 3: Market Position and Future Plans - Huiyuan Juice has been recognized as the "No. 1 in national juice sales" by a reputable third-party organization [1][3]. - The company is planning to relist on the A-share market within three to five years, with Wen Sheng Assets designing the best securitization plan for Huiyuan [4]. - A planned acquisition by Guozhong Water was announced for July 2024, which could facilitate Huiyuan's indirect listing on the A-share market, but the deal was terminated in April 2025 due to frozen share conditions [4].