Major shareholder’s shareholding freezes credit down, China-Portugal shares turned around or ST

Major shareholder’s shareholding freezes credit down, China-Portugal shares turned around or ST
On April 28, CITIC Guoan Wine Co., Ltd. (referred to as “Sino-Portuguese Shares” or “* ST Sino-Portuguese”) released its 2019 financial report showing that its revenue was 2.4.8 billion yuan, a year-on-year decrease of 27.48%; net profit is 1491.940,000 yuan, continuous interruption in 2017 and 2018.After the loss was reversed, * ST China-Portugal meets the conditions for the application to withdraw the delisting risk, but due to the company ‘s continued profitability pressure, and the shareholdings held by shareholders and their concerted parties were frozen 100%, etc. * ST China-Portugal may be subject to other risk warningsReferred to as “ST Sino-Portuguese”.In 2019, it successfully realized turning losses into profits and turning losses into profits. * ST Sino-Portuguese explained that in 2019 the company strengthened budget management and significantly reduced expenditure expenses; early foreign investment realized profits and obtained shareholding companies Xinjiang Jiuding Agricultural Products Management Co., Ltd. and Xinjiang GoldInvested in the production management company limited by shares in 2018; it is expected that various types of support funds will increase revenue; at the same time, it will vigorously develop the regional raw wine market and high-end wine market to improve the main performance.The company’s report led to a decline in revenue, mainly related to the divestiture of e-commerce business.In terms of specific business, * ST Sino-Portuguese liquor revenue is 2.3.8 billion US dollars, an annual increase of 0.49%.Among them, the income of high-end wine is 7602.440,000 yuan, an increase of 42 per year.93%; the income of middle and low-end wine is 1.1.6 billion, a decrease of 15 per year.41%; the original wine income is 4667.20,000 yuan, decreasing by 1 every year.28%.By region, * ST China-Portugal internal income and costs increased by 34 respectively.85%, 47.66%, mainly due to the increase in sales of raw and finished wine in Xinjiang every year.Revenues and costs outside Xinjiang decreased by 51%.12%, 64.46%, mainly because the sales of raw wine outside the territory exceeded the decrease; the gross profit margin outside the territory increased by 19.The 44 singles were mainly due to the fact that the gross profit allowed for the sales of raw wine was less than the same period last year.In the case where domestic wine production has been declining for 6 consecutive years and the new coronary pneumonia epidemic has been superimposed, ST China-Portugal admitted that the business situation faced by the company in 2020 will be more complicated and severe.In the early stage, the new coronary pneumonia epidemic caused production to start, and customer procurement suffered a short-term reduction.Affected by the relevant factors, the company’s sales in the first quarter lag behind. At the same time, due to the epidemic prevention situation, the company’s internal product production, transportation and sales may be affected by different degrees of interference in the future.In April of this year, * ST China-Portugal achieved full resumption of work. In order to promote the growth of the main business, the company will develop the grape spirits business and cultivate the market share of new grape spirits in the territory.Or other risk warning materials have been implemented to show that Sino-Portuguese is a listed wine company integrating grape cultivation, production, processing, trade and scientific research. Its predecessor Xintian International was listed in 1997 and its controlling shareholder is CITIC Guoan Group.Affected by the rising market share of imported wines, falling prices, and fierce market competition, the overall performance of Sino-Portuguese wines has been on a downward trend since 2013, and the deduction of non-net profit in 2018 has been negative for 14 consecutive years.Sino-Portuguese shares used e-commerce and investment mergers as the two major transformations of the company’s transformation, and tried to transform it into e-commerce to solve the problem of distributors’ insufficient resource integration capabilities. However, it was established less than two years ago and became a major national e-commerce company.Part of the equity was just sold.In order to improve profitability, Sino-Portuguese shares planned to acquire 100% equity of Qinghai CITIC Guoan Lithium Industry Development Co., Ltd. in July 2017, but the transaction was terminated after nearly a year of planning, on the grounds that “to continue to advance is not mature enough.”.In 2017 and 2018, Sino-Portuguese shares replaced 8988 respectively.220,000 yuan, 1.5.7 billion yuan.Since the net profit for two consecutive years was negative, Sino-Portuguese stocks have been issued a delisting risk warning from April 6, 2019, and the stock is referred to as “* ST Sino-Portuguese”.* ST China-Portugal announced in its announcement that after the turnaround in 2019, the company meets the requirements to cancel the stock delisting risk warning, but it is likely to be implemented with other risk warnings (ST).* ST Sino-Portuguese explained that in 2019, the company’s main business revenue scaled down, and due to economic downward pressure, industry cycle adjustments, and fierce market competition and other factors, the future continued profitability is under pressure.The 100% freeze of the majority shareholder’s shareholding is another major reason that may be used to implement other risk warnings. * ST Sino-Portuguese shareholder Guoan Group and its concerted action Guoan Investment Holdings’ company shares are involved in litigation, and the number of frozen shares is gradually frozenThe number of shares is 100%, accounting for 44% of the company’s total share capital.93%.The 2019 annual report shows that the shares held by ST China-Portuguese controlling shareholders and their concerted parties have undergone 20 rounds of freezing and waiting for freezing. The main cause of the case is financial debt contract disputes. The prosecution includes merged banks, securities companies, trust companies and so on.Recently, ST China-Portugal received the “Judicial Freeze of Property Rights and Judicial Transfer Notice”. The unrestricted circulating shares of listed companies held by Guoan Group were once again frozen by the Beijing Third Intermediate People’s Court.* ST China-Portuguese stated in another announcement at the same time that due to the tight liquidity of Guoan Group, there have been situations involving public bond replacement instead of full payment on schedule and advance payment of guarantees. The relevant data affected by the epidemic is being statistically verified.United Credit Rating Co., Ltd. has downgraded the long-term credit rating and related bond ratings of Guoan Group shareholders from BBB to C on April 29, 2019.* ST China-Portugal also stated that the company’s controlling shareholders do not have non-operating capital occupation, illegal guarantees and other violations of the interests of listed companies.The shares held by the controlling shareholder are waiting to be frozen, and currently have no direct impact on the company’s production and operation, control rights, shareholding structure, corporate governance, and everything is normal.Sauna, night net editor Guo Tie Xu Jingjing proofreading Jia Ning