Core Viewpoint - After initiating bankruptcy restructuring, Huayuan's performance showed signs of recovery, but the situation has deteriorated due to conflicts with major shareholders and operational challenges [1][9]. Group 1: Bankruptcy Restructuring and Shareholder Conflicts - In April 2025, Guozhong Water announced the termination of its acquisition of Huayuan's juice-related assets, leading to significant conflicts that erupted in August [2]. - Huayuan accused its major shareholder, Zhuji Wenshenghui, of underfunding and misusing control, potentially harming minority shareholders and creditors [2]. - Zhuji Wenshenghui's actual capital contribution was only 22.8% of Huayuan's registered capital, with 850 million yuan overdue for over a year [2][3]. - Huayuan has initiated legal proceedings against Zhuji Wenshenghui and Wensheng Asset Management, which have been accepted by the court [2]. Group 2: Financial Performance and Future Plans - Following the restructuring, Huayuan's revenue improved, with reported revenues of 1.159 billion yuan in the second half of 2022 and projected revenues of 2.745 billion yuan and 2.475 billion yuan for 2023 and 2024, respectively [9]. - The company aims for a relisting on the A-share market within three to five years, with Wensheng Asset Management planning to design an optimal securitization scheme for Huayuan [10]. Group 3: Operational Challenges - Huayuan is facing disputes with distributors and challenges in promoting new products, including a recent conflict with Beijing Meiri Youshan Brand Management Company over unauthorized use of the Huayuan name [12][16]. - The company has terminated its distribution agreement with Meiri Youshan due to serious breaches, including unauthorized recruitment and exceeding the scope of authorization [12][16]. - New product launches, such as Huayuan Guole and other juice products, are part of a strategic focus on juice, but market performance remains uncertain due to ongoing shareholder conflicts [18][23].

赵伟国曾是紫光集团有限公司的董事长，在执掌紫光集团期间因频繁进行并购而被称为"并购狂人"。 2013年，赵伟国出任紫光集团董事长后随即斥资17.8亿美元收购展讯，2014年斥资9.1亿美元收购 锐迪科，25亿美元接手惠普旗下公司新华三集团51%股权，部分交易也因并购双方体量相差过大而 被业内称为"蛇吞象"式并购。 据不完全统计，自2013年到2019年短短6年时间里，紫光集团已收购20多家公司，多为不同类型的 芯片公司。而通过多笔收购迅速扩张，紫光集团的资产也由13亿元增至2978亿元，成为当时中国芯 片产业巨头。 2025.05. 14 本文字数：2172，阅读时长大约4分钟 作者 | 第一财经 李娜 据央视新闻，5月14日，吉林省吉林市中级人民法院一审公开宣判紫光集团原董事长赵伟国贪污、为 亲友非法牟利、背信损害上市公司利益案，对被告人赵伟国以贪污罪判处死刑，缓期二年执行，剥夺 政治权利终身，并处没收个人全部财产；以为亲友非法牟利罪判处有期徒刑五年，并处罚金人民币一 千万元；以背信损害上市公司利益罪判处有期徒刑三年，并处罚金人民币二百万元；决定执行死刑， 缓期二年执行，剥夺政治权利终身，并处没收个人全部财 ...