8月19日，一位接近北京汇源的人士告诉经济观察报，公开信是由北京汇源管理层和工会委员会做 出决定，并主导发布的。 北京汇源两次发表公开信"声讨"的对象诸暨文盛汇，是2022年汇源破产重整时，重整投资人文盛 资产为履行其16亿元注资承诺而专门设立的持股平台之一，该笔投资用以换取汇源共70%的股权， 其中诸暨文盛汇持股60%，天津文盛汇持股10%。北京汇源则持有汇源核心商标，拥有与汇源相关 的全部销售网络及业务渠道。这次注资也被看作是这家老牌饮料企业的重生。 北京汇源认为，诸暨文盛汇注资不到位，因此不应按60%的比例享有股东权益；而文盛资产方面曾 向媒体回应称，依据增资入股协议，该方已经完成了7.5亿元的实缴出资，但北京汇源未完成工商 登记确认，阻碍了后续的注资。 双方各执一词，被寄予重生希望的北京汇源，也因重组中的分歧而前途未卜。 北京汇源和文盛资产各执一词，被寄予重生希望的北京汇源， 也因重组中的分歧而前途未卜。 作者：郑明珠 封图：图虫创意 8月14日深夜，北京汇源食品饮料有限公司（下称"北京汇源"）在微信公众号发布声明，直指控股 股东诸暨文盛汇自有资金投资有限公司（下称"诸暨文盛汇"）于8月11日召开的临 ...

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].