"空手套白狼"的资本游戏？ 作者丨 余生 来源丨 每日商业必读 8 月 9 日，北京汇源食品饮料有限公司（下称 " 北京汇源 " ）通过官方公众号发布《致全体股东及 转股债权人的公开信》，直指大股东诸暨文盛汇自有资金投资有限公司（下称 " 诸暨文盛汇 " ）涉 嫌出资不实、滥用控制权，并可能损害中小股东及债权人利益。 以下文章来源于每日商业必读 ，作者余生 每日商业必读 . 商业世界的前沿阵地 将投中网设为"星标⭐"，第一时间收获最新推送 这一纸公开信，不仅撕开了 " 国民果汁 " 汇源的资本困局，更将一场始于 2022 年的破产重整背后 的 " 空手套白狼 " 戏码彻底曝光。 16 亿承诺成空， 8.5 亿逾期未到账 2022 年 6 月，北京一中院裁定批准北京汇源重整计划， AMC 机构上海文盛资产管理股份有限公 司（下称 " 文盛资产 " ）作为重整投资人，通过旗下持股平台诸暨文盛汇及天津文盛汇，承诺对北 京汇源增资 16 亿元，分 3 年完成（ 2022 年 7.5 亿元、 2023 年 3.8 亿元、 2024 年 4.7 亿 元），并取得北京汇源 70% 股权。 然而，截至 2025 年 8 月， ...

Core Viewpoint - The financial support from Zhejiang Tianzhong Precision Machinery Co., Ltd. to its subsidiary Shenzhen Youfu Intelligent Equipment Co., Ltd. has evolved into a prolonged capital crisis, marked by increasing overdue loans and persistent operational losses [1][4]. Loan Details - In December 2022, Tianzhong Precision provided a maximum loan of 100 million yuan to Youfu Intelligent, intended to support its lithium battery production line development and working capital needs [2]. - The loan was extended for one year in December 2023 due to ongoing financial needs, but the first overdue amount of 13 million yuan occurred in December 2024, marking a turning point in risk [2]. - By May 2025, the total overdue amount had escalated to 68.9 million yuan, representing 13.57% of Tianzhong Precision's net assets [2]. Financial Performance of Youfu Intelligent - Since its establishment, Youfu Intelligent has consistently reported losses, with a net profit loss of 8.1752 million yuan in 2022, and losses further increasing to 37.2396 million yuan in 2023 [4]. - In the first quarter of 2025, Youfu Intelligent reported zero revenue, with operating and net profits at -5.3614 million yuan and -5.3868 million yuan, respectively [5]. - As of December 31, 2024, Youfu Intelligent's total assets were 124 million yuan, while total liabilities reached 270 million yuan, resulting in negative equity of 146 million yuan [5]. Legal and Financial Risks - Youfu Intelligent is facing significant legal risks, with 150 ongoing lawsuits totaling 87.4662 million yuan, which is 17.23% of Tianzhong Precision's latest audited net assets [5]. - The company has indicated that if Youfu Intelligent cannot repay the loans, it may pursue bankruptcy proceedings [3].