After more than a year, Zhuhai Zhongfu is once again planning a change of control.

Hot Topics

Selected Stocks Data Center Market Center Capital Flows Simulated Trading

Client

On the evening of April 1st, Zhuhai Zhongfu (000659) announced that it is planning to issue A-shares to specific investors, which may lead to a change in the company’s control. To protect the interests of investors, the company’s stock will be suspended from trading starting April 2nd, with an expected suspension period of no more than two trading days.

The announcement shows that currently, all parties are discussing and negotiating the specific plan, agreement, and related matters. The final details will be based on the agreements signed by all parties.

Public information indicates that Zhuhai Zhongfu mainly engages in the production and sales of carbonated beverages, hot-filled beverages, drinking water, PET bottles for beverage packaging, PET preforms, labels, outer packaging films, and plastic cans. The company also provides contract manufacturing services for carbonated drinks, bottled water, tea drinks, sterile filling, and hot-filled beverages. It maintains close business relationships with well-known companies such as Coca-Cola, Pepsi, C’estbon, Genki Forest, Nestlé, Budweiser, Bingfeng, and Tsingtao Beer.

Zhuhai Zhongfu was once known as the “Asia Bottle King,” thanks to its long-term cooperation with Coca-Cola and Pepsi, with market share continuously increasing. However, in recent years, Zhuhai Zhongfu’s performance has fallen into a slump. From 2022 to 2024, the company has been in a loss-making state, with net losses attributable to shareholders of 186 million yuan, 70 million yuan, and 123 million yuan, respectively.

According to Zhuhai Zhongfu’s 2025 performance forecast, the company expects a net loss attributable to shareholders of between 100 million and 135 million yuan for the full year, mainly due to a slight decline in sales revenue during the reporting period compared to the same period last year.

Facing operational difficulties, Zhuhai Zhongfu previously attempted self-rescue through a private placement. On the evening of December 13, 2024, Zhuhai Zhongfu disclosed a private placement plan, proposing to issue about 321 million shares at 2.56 yuan per share to Xun Zhen Investment, raising approximately 822 million yuan, all of which will be used to repay debts and supplement working capital. If the issuance is completed, the company’s controlling shareholder will change to Xun Zhen Investment, and the actual controller will be Yu Timing.

This change of ownership ultimately fell through. On June 27, 2025, Zhuhai Zhongfu announced the termination of the private placement, citing disagreements between the parties on future development plans and the failure to reach consensus on the core terms of the transaction.

More than a year later, Zhuhai Zhongfu is once again planning a change in control, attracting market attention as to whether it can reverse the company’s declining performance.

(Source: Shanghai Securities Journal)