10 years ago, Coca-Cola initiated the acquisition of Huiyuan Juice for nearly1800 million Hong Kong dollars, but failed to do so in the following year because of the failure of antitrust investigation. Today, the latest market value of Huiyuan Juice is only HK$ 5.397 billion, which has been losing money for six consecutive years.
Recently, Huiyuan Juice has fallen into the whirlpool of public opinion. First, the related party transactions were bombed, which violated the listing rules of the Hong Kong Stock Exchange; After that, it began to suspend trading and delayed the disclosure of the 20 17 annual report. Suspension for more than 4 months and failure to disclose the annual report; Recently announced the possibility of delisting.
These negative factors have been reflected in the company's share price. At present, the latest closing price of the company is only HK$ 2.02, which is 2/3 lower than the issue price of HK$ 6 when it went public in 2007.
Moreover, at present, its share price is much lower than its net assets, and its P/B ratio is only 0.45 times, which is equivalent to a discount of 4.5% on the basis of its net assets.
Since 20 1 1, the net profit attributable to Huiyuan Juice has been negative for six consecutive years. At the same time, the total liabilities of the company increased year by year, reaching1151800 million yuan by the end of June 20 17.
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The new CEO of Huiyuan Group takes measures in the face of the crisis;
Huiyuan Juice's illegal related loan, like a "domino", caused a series of problems. At present, apart from its own problems, the external environment of Huiyuan Juice is not friendly.
201On June 2, 6, Moody's downgraded the credit rating of Huiyuan Juice by three notches to Caa 1, mainly because it was worried that the resumption of trading proposed by the Hong Kong Stock Exchange would prolong the suspension time of its shares, resulting in a tight capital chain.
Soon after, Fitch Ratings also downgraded Huiyuan Juice's long-term foreign currency issuer default rating from B to CCC+. At the same time, the senior unsecured rating of Huiyuan Juice and its senior US dollar bills with coupon rate of 6.5% and maturity of 2020 was downgraded from B to CCC+, and the recovery rate was RR4. These ratings are still on the negative watch list.
At the same time, Hang Seng Index announced that due to the continuous suspension of Huiyuan Juice, its constituent stocks were removed from multiple indexes and sub-indexes of Hong Kong stocks at the lowest system price (0.000 1 yuan) after the market closed in July.
On July 16, Huiyuan Juice just appointed Wu Wei as the CEO of the Group, who was fully responsible for the overall management and daily operation of the Group.
According to the announcement, Wu has accumulated rich experience in internal control, finance and enterprise management. According to the contract, his service period is 2065438+three years from June 2008, and he enjoys the basic annual salary of 1440000 yuan, which is reviewed by the company's remuneration committee every year.
According to reports, from March 20 16 1 1 to March 20 18, Wu was appointed as the co-president of Suzhou Jinman Enterprise Group Co., Ltd.; From July 2005 to June 2006, he served as a director, deputy general manager and chief financial officer of China Minmetals Group.
I don't know whether Mr. Wu's joining can turn the tide, help Huiyuan Juice out of the current predicament and lead this once-China "juice giant" back to the peak.