智通财经记者 | 赵晓娟 智通财经编辑 | 牙韩翔 尚未借壳上市成功的包装饮用水"润田"，被曾经的"老板娘"持续爆料。 7月18日，一位名为"暴躁十亿姐"的用户在抖音平台上发布多条视频，话题涉及"宗馥莉""润田查加智侵占国有资产"等内容。其中热度最高的一条视频称， 其丈夫黄安根有过4段婚姻及5个孩子，其中自己生了两个。 该用户的抖音主页显示，其自称是"江西润田上市公司创始人老板娘魏苗苗"，她还有两家准上市公司"深圳秦沃"与"深圳汉朔建元"。她的惊人言论还包 括，"把女儿培养成第二个宗馥莉""润田的模式和娃哈哈类似，黄安根的亲弟弟做润田的瓶贴、瓶盖等供应链，黄安根的其中一个前妻负责润田的广告传媒 业务"等等。她在7月21日的一条视频当中爆料，指控润田有股东涉嫌侵占国有资产并转移到境外。 这位自称魏苗苗的人，通过把丈夫在润田的过往，与娃哈哈、农夫山泉等热门话题联系起来最终转化为流量，在社交平台为自家品牌带货，她的视频几天内 播放量突破千万。 7月22日，智通财经向润田正在借壳上市的相关上市公司国旅联合（ST联合）求证，该企业证券代表告诉智通财经，上述账号的说法不实，"她把润田饮料 与润田实业混淆了，国旅联合收购的 ...

"真正的饮茶爱好者，不仅对茶叶的品质有较高要求，对泡茶水的要求则更加讲究，江南贡泉·活的高山 泉水能够被越来越多的消费者喜欢与推荐，确实是因为这款水能够给饮茶爱好者带来更好的品茶体验， 我们必须要带着这份认可严把产品质量关，把江南贡泉做成全国性的真正意义上高品质的高端水品 牌"，2025年7月的第一周，洞庭山矿泉水集团董事长汪利明先生在集团内部半年度总结会上说道。 江南贡泉·活的高山泉水自上市以来，历经市场考验，不仅赢得了包装饮用水市场无数消费者的喜爱与 认可，销量连年倍增，其产品更是凭借"高山泉、高含氧、高活性"的独特优势，成为了众多茶友的首 选。 活的高山泉水，成就"水中佳品" 古人有云："茶性发于水，八分之茶，遇十分之水，茶亦十分矣。"茶之风味，水为其魂。唐代陆羽《茶 经》亦言："其水，用山水上，江水中，井水下。"山泉水因天然、清冽的特性，历来被视为泡茶首选。 但并非所有山泉水都适宜品茗，山泉水的水质受地质、水源流经路径等影响，差异巨大，有些甚至不具 饮用价值。 对于大部分饮茶人来说，好的山泉水并不是处处可得，不同地区的水质天差地别。江南贡泉·活的高山 泉水，源自浙北第一高峰安吉龙王山1587米，安吉龙 ...

Core Viewpoint - The Jiangnan Mingquan natural soda mineral water product from Dongting Mountain Mineral Water Group has gained popularity on social media platforms like Xiaohongshu due to its high quality and aesthetic appeal, attracting health-conscious consumers and reshaping perceptions of healthy drinking water [1] Brand Strength - Dongting Mountain Mineral Water Group has established itself as a leading brand in China's drinking water industry, focusing on the philosophy of "natural healthy water" since its inception 28 years ago [3] - The company has consistently ranked first in market share across multiple cities in the Yangtze River Delta region, serving over 10 million households and businesses [3] - The brand has earned the reputation of "King of Jiangnan Water" and "One Barrel of Jiangnan," reflecting its deep-rooted trust among consumers [3] Product Quality - The company maintains strict standards for water source selection, ensuring that all sources are natural, high-quality, and healthy [5] - Water sources are located in ecologically pristine areas, such as Wawushan in Liyang and Longwang Mountain in Anji, which are free from industrial pollution [5] - Each water source undergoes extensive testing and analysis by expert teams to ensure superior quality [5] Production Standards - Dongting Mountain Mineral Water Group employs advanced production equipment and processes to ensure high-quality bottled water [7] - A comprehensive quality control system is in place, with a dedicated quality inspection center that monitors every batch of products from source to finished product [7] Innovation and Market Strategy - The company adopts a dual strategy of "deepening" existing business and "expanding" into new areas, allowing it to capture emerging trends in the bottled water market [8] - It has developed a diverse product matrix, including high-end water and functional water, to meet the evolving demands of health-conscious consumers [8] - The product range includes various types of natural mineral water and packaging options, catering to different consumer needs and preferences [8] Packaging and Design - The company integrates modern aesthetics with practical design in its packaging, enhancing the cultural attributes and emotional value of its products [10] - This innovative approach not only improves consumer experience but also positions the company as a leader in high-quality development within the industry [10] Commitment to Quality - Dongting Mountain Mineral Water Group's long-standing commitment to quality reflects its belief in "long-termism" and dedication to consumer health [10] - The company aims to continuously improve product quality while exploring new paths for industry development and expanding its brand narrative [10]

Core Viewpoint - The recent merger and acquisition plan between Guolv Cultural Investment Group Co., Ltd. and RunTian Industrial Co., Ltd. represents a strategic move to enhance quality and optimize structure in response to national policies aimed at fostering new productive forces in the economy [1][8]. Company Overview - RunTian Industrial is a leading company in the packaged drinking water industry in Jiangxi Province, recognized as one of the "Top Ten Consumer Brands" and "Leading Enterprises" in the region, with a strong brand presence and a national distribution network covering 22 provincial-level administrative regions [2][3]. - The company has achieved significant sales milestones, with its "RunTian Cui" natural selenium mineral water series being the national sales champion for three consecutive years (2022-2024) and ranking among the top ten in China's packaged drinking water and natural mineral water sectors in 2024 [2]. Financial Performance - RunTian Industrial is projected to achieve revenues of approximately 1.15 billion yuan and 1.26 billion yuan in 2023 and 2024, respectively, reflecting a year-on-year growth of about 9.4% [3]. - The company is expected to report net profits of approximately 147.25 million yuan and 176.75 million yuan for the same years, alongside operating cash flows of 222.50 million yuan and 182.65 million yuan, indicating strong financial health and operational efficiency [3]. Strategic Synergy - The merger is anticipated to enhance Guolv's financial status and market resilience by integrating RunTian's stable cash flow from the drinking water sector with Guolv's high-value tourism services, thereby optimizing revenue structure and operational efficiency [4][5]. - The collaboration will allow both companies to leverage shared resources in procurement, production, and sales, effectively reducing operational costs and expanding profit margins [4]. Market Opportunities - The merger aligns with national policies aimed at boosting domestic consumption, with the government planning to invest over 500 billion yuan in consumer infrastructure upgrades by 2025 [6][7]. - The consumer sector is expected to experience a new growth phase, supported by favorable policies and a recovering economic backdrop, which will benefit the combined entity's market positioning and growth potential [7]. Future Outlook - The acquisition is seen as a significant step in Jiangxi's state-owned enterprise reform, providing a model for financial synergy and value creation in the capital market [8]. - With the integration of RunTian's financial foundation and industry advantages, Guolv is poised to accelerate its transformation into a comprehensive service provider in the cultural and tourism consumption sector, injecting new vitality into regional economic development [8].

Group 1 - The "Su Super" league has gained significant sponsorship interest, with major companies like JD.com and Yili partnering with the league, indicating its rising popularity in the sponsorship market [1][2] - As of June 13, the number of official strategic partners increased from 1 to 7, with new additions including JD.com and Li Auto, while official sponsors grew from 1 to 5, adding companies like Nubia and Yili [2] - The influx of sponsors is expected to keep ticket prices affordable, encouraging more fan participation, which is crucial for the league's future development [2] Group 2 - The sponsorship categories for "Su Super" include a total of five types: one title sponsor (Jiangsu Bank), one official strategic partner (Guoyuan V3), one official partner (KELME), one official sponsor (Kangshifu's bottled water), and two official suppliers (Zijin Insurance and Gatorade) [1] - The sponsorship landscape reflects the league's growing appeal, as evidenced by the increase in both the number of sponsors and the diversity of companies involved [2]

Core Viewpoint - ST联合 is undergoing a significant asset restructuring by acquiring 100% equity of 江西润田实业股份有限公司 to enhance its financial stability and operational capabilities, aiming to avoid delisting risks and improve its market position [2][5]. Group 1: Company Overview - ST联合's stock price has surged from 4.73 CNY to 6.04 CNY, marking a 27.72% increase, with six consecutive trading limits reached [2]. - The company has been facing financial difficulties, with revenues declining from 5.65 billion CNY in 2022 to an expected 3.65 billion CNY in 2024, and net profits turning negative [3][4]. - The acquisition of 润田实业 is seen as a strategic move to revitalize ST联合's business model, shifting focus towards becoming a comprehensive service provider in the cultural and tourism sectors [4][5]. Group 2: Industry Context - 润田实业 is recognized as a leading player in the packaging drinking water sector in Jiangxi, holding a 58% market share locally but struggling for national presence [6][7]. - The drinking water industry is highly competitive, with major brands like Nongfu Spring and international players posing significant challenges to smaller companies like 润田实业 [7][8]. - The restructuring is viewed as a potential opportunity for 润田实业 to achieve a "backdoor listing" and enhance its market competitiveness, although long-term growth remains uncertain due to existing market pressures [6][8].

Core Viewpoint - The Dongting Mountain Mineral Water Group is continuing its long-standing tradition of providing customized bottled water, named "Zhuangyuan Bottle," to support students during the annual college entrance examination in China, emphasizing its commitment to social responsibility and community support [1][5]. Group 1: Charity and Community Support - The company will distribute over 500,000 bottles of the "Zhuangyuan Bottle" mineral water during the examination period from June 7 to 9, 2025, across various examination sites in Jiangsu and Zhejiang provinces [2]. - This initiative has been ongoing for 27 years, having started in 1999, and has delivered over 10 million bottles of water to students, showcasing the company's dedication to public welfare [5]. Group 2: Product Quality and Safety - The "Zhuangyuan Bottle" is made from high-quality natural spring water sourced from the Anji Longwang Mountain, which is known for its high oxygen saturation and rich mineral content, ensuring both taste and health benefits for the students [3]. - Each bottle undergoes individual sealing and inspection, with strict transportation protocols to guarantee safety and quality for the students and their families [4]. Group 3: Brand and Market Position - The Dongting Mountain Mineral Water Group positions itself as a leader in the Jiangsu packaged drinking water industry, integrating social responsibility into its business model and actively participating in various charitable initiatives [5]. - The company emphasizes the importance of quality management and technological innovation in its production processes, adhering to high standards to ensure the premium quality of its products [3].

以下文章来源于财经天下WEEKLY ，作者财经天下 财经天下WEEKLY . 《财经天下》周刊官方账号，提供有品质的深度报道，讲述中国企业在时代浪潮中的精彩故事。 一瓶水，要为两家公司"解渴"。 文 ｜ 张向阳 编辑 ｜ 吴跃 来源｜ 财经天下WEEKLY（ID：cjtxweekly） 封面来源 ｜ Unsplash 江西1元"水王"要曲线上市 继怡宝母公司华润饮料于2024年10月IPO后，被称为江西1元"水王"的润田也要上市了。 5月14日，国旅联合发布公告称，公司正在筹划以发行股份及支付现金的方式购买江西润田实业股份有限公司（以下简称"润田实业"）部分或全部股权并募 集配套资金，以实现公司对润田实业的控制。 "公司对润田实业的收购工作正在积极推进中，本次收购完成后预计公司将达成对润田实业的控制。"5月21日，国旅联合在投资者互动平台表示。 润田实业主要从事包装饮用水的生产和销售。国旅联合公告中称，润田实业"是行业排名前列的纯净水和矿泉水双驱发展的生产销售厂商"。 图/小红书 天眼查显示，润田实业由江西迈通健康饮品开发有限公司、江西润田投资管理有限公司、南昌金开资本管理有限公司直接持股，这三家公司分别持有 ...

Core Viewpoint - ST United (600358.SH) is attempting to revitalize its performance through the acquisition of Jiangxi Runtian Industrial Co., Ltd, despite a history of unprofitable operations and significant risks of delisting due to past mergers and financial struggles [1][2][6]. Company Overview - ST United has primarily relied on mergers and acquisitions to drive performance, with its main business rarely generating profits [1][2]. - The company has faced multiple financial challenges, including a significant drop in performance and a risk of delisting due to negative net profits and revenue [6][7]. Recent Developments - On May 28, ST United announced plans to acquire 100% of Jiangxi Runtian, which is a leading bottled water company in Jiangxi, and aims to raise funds to support this acquisition [1][7]. - The acquisition is seen as a potential lifeline for ST United, which is struggling to maintain its listing status [7][10]. Financial Performance - ST United's financial performance has deteriorated, with a reported revenue of 3.65 billion and a net loss of 637 million in 2024, nearing delisting thresholds [6][9]. - The company has a history of failing to meet performance targets set during acquisitions, leading to significant financial penalties and losses [2][3]. Market Context - The bottled water market is highly competitive, with major brands like Nongfu Spring and Wahaha dominating over 58.6% of the market share, leaving little room for regional brands like Runtian [10][11]. - Runtian has shown financial stability with projected revenues of 1.26 billion and net profits of 177 million in 2024, which could help ST United reverse its declining performance if the acquisition is successful [7][10]. Strategic Implications - The acquisition of Runtian is part of a broader strategy for ST United to transform into a comprehensive service provider in the cultural tourism sector, although past performance raises concerns about the effectiveness of this strategy [2][6]. - The success of the acquisition will depend on Runtian's ability to adapt to market trends and effectively compete against larger brands [11].

本次交易前，ST联合主营业务包括互联网数字营销、旅游目的地运营和"跨境购"业务。润田实业则主 要从事包装饮用水的生产和销售，其主要产品包括"润田"纯净水及苏打水、蜂蜜水等新品和"润田翠"矿 泉水。2024年，润田实业位列中国饮料行业包装饮用水、天然矿泉水"全国双十强"。 值得一提的是，作为江西知名矿泉水品牌，润田实业曾有冲刺上市的计划，公司曾于2022年9月办理上 市辅导备案，拟在上交所主板上市，但此后并未有实质性进展。 对于ST联合而言，此次收购有望增强上市公司盈利能力。"报告期内，标的公司收入及利润总体保持持 续增长的势头，本次交易将显著增强上市公司的盈利能力和核心竞争力。"交易预案显示，根据未经审 计的财务数据，润田实业2023年和2024年分别实现净利润1.47亿元、1.77亿元。 从ST联合自身来看，其归母净利润已连续2年亏损，公司2023-2024年归母净利润分别为-0.13亿 元、-0.64亿元。另外，2025年一季度，公司实现营收0.87亿元，同比下滑29.16%；归母净利润亏损 853.63万元，同比下滑94.98%。 消息面上，5月28日，ST联合披露发行股份及支付现金购买资产并募集配套资 ...