Dynasty Wines is expected to have a combined forecast of over 60 million in 2019

On the evening of March 13th, Dynasty Wine, which once surrounded the “financial fraud” issue, issued a profit warning showing that its total amount of comprehensive fees reviewed in 2019 decreased by about 10% -20% last year.Based on the estimated amount of 79 million substitutions predicted in 2018, Dynasty Wines is expected to gradually replace approximately 71.1 million substitutions to 63.2 million substitutions.Dynasty Wine said that the narrowing of the company’s decrease was due to reduced costs and expenses; and the expected decrease in revenue was mainly due to the economic growth rate during the year, which led to a decline in sales and the impact of reduced sales of imported wine.Wang Zhaojiu also reminded that because the group’s annual comprehensive performance has not been completed, the board of directors cannot accurately quantify the relevant financial impact at this stage.According to public information, Dynasty Wine’s main business is wine, brandy, sparkling wine, etc., which was listed on the Hong Kong Stock Exchange in 2005. It was once called Changyu and the Great Wall as the “troika” of the wine industry.However, since 2011, affected by the impact of imported wines, distribution reforms have led to a decline in sales in major markets in East China, Dynasty wine industry performance has been sloping all the way, and profit after tax has been negative for 8 consecutive years.As of the end of 2018, the dynasty wine industry’s flow resistance has exceeded current assets1.With a budget of 25 billion, operating activities are expected to be 7,924.With a consumption of 30,000 yuan, cash can be removed and replaced with a net amount of 93.1 million yuan. Dynasty Wines bluntly stated, “This shows that the Group has serious doubts about its ability to continue operations.”In order to manage the dilemma on a large scale, Dynasty Wines took various measures.In November 2017, Dynasty Wines sold its affiliated wine castle and related facilities to Tianjin Yiyang Great Health Town Construction Development Co., Ltd. at a price of 400 million tons. The sale was completed on January 23, 2020.In December of the same year, Dynasty Wines announced that Sun Jun would replace Hao Feifei as the company’s executive director, the chairman of the board of directors and the appointment of the chairman of the committee.In addition, affected by the anonymous report letter alleging that the company was suspected of “financial fraud”, Dynasty Wines continued to suspend trading since March 22, 2013.In July 2019, Dynasty Wines successively released its semi-annual, annual report from 2012 to 2018, and resumed trading on July 29 of the same year.In this profit warning, Dynasty Wines also mentioned the new crown pneumonia epidemic, saying that since February 21st, most of the group’s offices and production facilities have gradually resumed operations without serious interference.In view of the current special situation, the epidemic situation will have a certain impact on the financial performance and industry of the Group in the first half of the year, but it is difficult to assess the degree of impact temporarily.Sauna, night net Guo Tie Picture source Shopping website screenshot editor Peng Yali proofreading Li Xiangling

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