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江山美人野史-引发的网络安全思考
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江山美人野史-引发的网络安全思考

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  羊城晚报记者 程行欢

  4月23日,国中水务(600187.SH)发布公告,宣布终止收购汇源果汁相关资产。公告显示,国中水务终止重大重组事项的原因,主要因交易标的股权仍处于冻结状态,存在限制转让的情形。受此消息影响,国中水务4月23日开盘跌停,收盘报3.81元/股。

  汇源果汁作为中国知名的饮料品牌,其发展历程中经历了多次重要的收购事件,这些事件影响了汇源自身的命运发展。2007年,汇源果汁在香港上市,募资规模超过24亿港元,成为当年港交所最大IPO,汇源果汁也是国民级品牌。然而,2008年可口可乐计划以179.2亿港元收购汇源果汁,但因违反《中华人民共和国反垄断法》被中国商务部否决。这一事件成为汇源果汁发展的重要转折点,此后汇源果汁业绩开始下滑,市场份额逐渐被竞争对手蚕食。

  2021年1月,汇源果汁因违规贷款等问题被港交所取消上市地位。2022年6月,汇源果汁进入重整程序,上海文盛资产管理股份有限公司(文盛资产)作为重整投资人投入16亿元资金,取得汇源果汁60%的股份。此次重整为汇源果汁带来了新的转机,使其在2023年实现了营业收入27.5亿元、净利润4.2亿元的成绩。

  2024年7月,国中水务计划以支付现金的方式收购汇源果汁,希望通过此次收购优化公司资产结构,提升盈利水平。国中水务的主营业务为污水处理和环保工程技术服务,是一家具备全国范围内投资运营能力的水务环保企业。

  国中水务近年来在污水处理和环保工程技术服务领域面临行业增长放缓、竞争加剧的困境,自2021年起业绩下滑,净利润同比转亏,2022年亏损进一步扩大。2023年公司虽然扭亏为盈,但整体业绩仍面临压力。因此,收购汇源果汁被看作是优化公司资产结构、提升资产规模和盈利水平的重要举措。

  通过收购汇源果汁,国中水务希望进入果汁饮料行业,实现业务多元化,降低对单一业务的依赖,分散经营风险。汇源果汁作为中国知名的果汁品牌,具有较高的品牌知名度和市场份额。国中水务认为,收购汇源果汁后,可以借助其品牌影响力和市场基础,拓展新的业务领域,提升公司的综合盈利能力。但因为北京汇源股东的侵权责任纠纷导致股权被冻结,影响了股权转让的谈判。

  从财务角度来看,汇源果汁在2023年实现了营业收入27.5亿元,净利润4.2亿元。国中水务认为,通过收购汇源果汁,可以为公司带来新的利润增长点,提升公司的整体财务表现。此次收购汇源果汁失败对国中水务的影响是全方位的,短期内需应对股价波动、资金压力和业绩风险,中长期则面临战略转型受阻、品牌信任度下降及法律纠纷等多重挑战。公司公告称“待股权解冻后评估推进可能性”,但市场普遍认为重启难度较大。

  银行股股价屡创新高。

  4月24日,银行股震荡走强。截至收盘,齐鲁银行领涨,涨幅达3.11%,厦门银行、渝农商行等涨幅超2%,工商银行、农业银行、中国银行A股股价续创历史新高。

  其中,工行报7.24元/股,涨1.83%;农行报5.59元/股,涨2.01%;中行报5.83元/股,涨2.10%。

  作为顺周期板块,银行股近来备受关注。近段时间,国有大行新一轮注资计划正稳步推进,多家银行披露估值提升计划及“提质增效重回报”行动方案。与此同时,当下正值银行一季报披露季,从数家已披露今年一季报的银行来看,整体表现较为稳健,对实体经济的支持力度不断加强。

  东方证券研报认为,当前进入稳增长政策密集落地期,宽货币先行,宽财政紧随,地方化债显著提速,对2025年银行基本面产生深刻影响;财政政策力度加码,支撑社融信贷并提振经济预期,顺周期品种有望受益;广谱利率下行区间,银行净息差短期承压,但高息存款进入集中重定价周期叠加监管对高息揽存行为持续整治,对2025年银行息差形成重要呵护;2025年是银行资产质量夯实之年,政策托底下,房地产、城投资产风险预期有望显著改善,风险暴露和处置较为充分的部分个贷品种也有望迎来资产质量拐点。

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