以下文章来源于深蓝财经 ，作者深蓝财经 深蓝财经 . 影响价值圈层！创立于2011年，关注中国最具价值公司，是新中产的财富顾问。 9月25日，华西证券发布公告称，持股6.79%的股东四川剑南春（集团）有限责任公司（简称"剑南春集团"）计划在公告披露之日起15个交易日后的3个月 内，减持不超过2625万股公司股份，合计占公司总股本的1%，减持价格将按届时市场价格确定。 来源丨深蓝财经 川酒"五朵金花"之一的剑南春，在"陪跑"华西证券七年上市之路后，终于也有了"七年之痒"——趁着华西证券最近业绩大幅回暖之际，赶紧套现了2.55亿。 剑南春减持引发各方讨论，究竟是单纯的资金需求，还是股东战略层面有其他大动作？ 01 意外减持 公告明确披露，减持原因为"流动资金需求"。若按照华西证券9月24日收盘价9.71元/股计算，剑南春此次减持或将套现约2.55亿元。 值得注意的是，这是华西证券2018年上市7年来，剑南春集团首次提出减持计划，也是华西证券1999年成立25年来，创始级股东的一次重要减持，备受业内 关注。 早在2000年华西证券正式运营之际，剑南春便是发起人之一，出资8000万元；其关联企业四川剑南春融信投资有限 ...

Group 1 - Sichuan Jian'nanchun Group has undergone a significant equity change, with Mianzhu State-owned Assets Management Center acquiring 14.51% of the shares through a capital contribution of 137 million yuan, becoming the second-largest shareholder [1][2] - Following this transaction, Jian'nanchun's registered capital increased from approximately 808 million yuan to about 946 million yuan, while the largest shareholder, Sichuan Tongsheng Investment Co., Ltd., saw its stake decrease from 74.14% to 63.06% [1][2] - The actual controller of Jian'nanchun Group remains Qiao Tianming, who holds a 41% stake and has been involved with the company since 1982, serving as chairman since 2000 [1] Group 2 - The entry of Mianzhu State-owned Assets as a shareholder marks the first time in over 20 years that Jian'nanchun has had a state-owned shareholder directly holding shares [2] - The capital contribution from Mianzhu State-owned Assets is classified as "debt" rather than cash, with speculation that it originates from a previous trademark dispute [2][3] - The trademark dispute involves the legitimacy and validity of the trademark transfer contract, with ongoing court proceedings that have yet to reach a final verdict [3][4] Group 3 - Jian'nanchun Group's annual revenue for 2024 is reported to be 16.94 billion yuan, with Jian'nanchun Co., Ltd. achieving approximately 10.66 billion yuan in revenue, reflecting a nearly 15% year-on-year growth [4] - The company has conducted two rounds of dividends in 2024, distributing a total of over 3.5 billion yuan, with the first round being a record high of 3 billion yuan [5][6] - The involvement of state-owned assets is expected to provide more stable resource support and strategic collaboration, potentially enhancing the overall development of the Deyang and Sichuan liquor industry [6]

Core Insights - Sichuan Jian'nanchun Group has undergone a significant change in its shareholder structure, with the addition of Mianzhu State-owned Assets Management Center as a new shareholder, acquiring 14.51% of the company by contributing approximately 137 million yuan, raising the registered capital from 808 million yuan to about 946 million yuan, an increase of approximately 17% [1][5] - The strategic cooperation agreement signed between Deyang Development Group and Jian'nanchun Group aims to leverage their complementary strengths in resource endowment and strategic layout, focusing on multiple collaboration paths including equity investment and trade circulation, which is expected to enhance regional industrial upgrading [6] - Jian'nanchun Group, established in 1996, reported a revenue of 16.36 billion yuan in 2024, and currently has six shareholders, with Sichuan Tongsheng Investment Co., Ltd. holding the largest share at 63.06% [8] Company Overview - Jian'nanchun Group was founded in 1996, evolving from the state-owned Mianzhu Distillery, and underwent privatization in 2003 [8] - The company has faced legal challenges, including a conviction of its chairman, Qiao Tianming, for bribery and misappropriation of state assets, resulting in a five-year prison sentence and a fine of 400 million yuan [8]