《每日经济新闻》记者注意到，在业绩预亏背后，是一系列令人咋舌的操作：为节省开支，公司拟对 600亩葡萄种植基地进行报废处理；因品质下降，大量库存原酒被计提减值，甚至连子公司因土壤贫瘠 无法种葡萄也被卷入诉讼漩涡。 预亏背后：砍树、减值与坏账 在葡萄酒市场的寒冬中，威龙股份的2025年过得尤为艰难。根据公司发布的业绩预亏公告，2025年预计 实现营业收入3.41亿元到3.91亿元，其中主营业务收入为3.15亿元到3.60亿元。与上年同期盈利1026.16 万元相比，2025年的归母净利润预计亏损4092万元至6611万元。 导致这一亏损的直接原因，除葡萄酒行业市场低迷导致的主营业务收入减少外，更在于公司进行了一场 大规模的资产"清理"。 1月20日，威龙股份董事会会议审议通过了公司2025年度部分资产报废处理、计提减值和应收坏账、诉 讼事项预计损失处理的议案，预计将减少净利润合计达6267.7万元。 其中，最引人关注的是，公司将对龙口龙湖葡萄种植基地1000亩葡萄地中的600亩进行报废处理，仅保 留400亩用于观光，预计报废损失达1117.70万元。 至于报废原因，一方面，公司根据目前的市场形势判断澳洲、甘肃和 ...

Group 1 - Xijiu has outlined its key work priorities for the next five years, focusing on modern development paths, quality production systems, innovation-driven engines, cultural enterprise development, harmonious growth, and strengthening party leadership [1] - The strategic upgrade of Xijiu is expected to enhance corporate governance and long-term brand value, potentially driving other companies in the sector to increase technological investments and improve overall industry competitiveness [1] Group 2 - Weilang Co. has announced a projected net loss of between 40.92 million to 66.11 million yuan for the year 2025, with expected operating revenue between 341 million to 391 million yuan [2] - The anticipated decline in revenue and negative net profit indicates significant operational pressure on Weilang, reflecting the challenges faced by the domestic wine market [2] Group 3 - The market size of the liquor category, particularly for products like Jingjiu and Meijian, is expected to exceed 20 billion yuan by 2025, doubling from 2020, with a compound annual growth rate of over 10% [3] - The growth of the liquor market highlights the increasing demand from younger consumers, suggesting a high growth potential for the industry, with predictions of the market reaching over 100 billion yuan by 2030 [3]

1月20日晚间，"有机葡萄酒第一股"山东威龙股份（SH603779）发布的2025年度业绩预亏公告显示，公 司预计2025年度归母净利润将由盈转亏，出现4092万元至6611万元的亏损，扣非净利润亏损则在2655万 元至4289万元之间。 《每日经济新闻》记者注意到，在业绩预亏背后，是一系列令人咋舌的操作：为节省开支，公司拟对 600亩葡萄种植基地进行报废处理；因品质下降，大量库存原酒被计提减值，甚至连子公司因土壤贫瘠 无法种葡萄也被卷入诉讼漩涡。 预亏背后：砍树、减值与坏账 至于报废原因，一方面，公司根据目前的市场形势判断澳洲、甘肃和新疆基地每年的原酒供应足以满足 未来4—5年每年的生产销售需要；另一方面，公司因受实控人事件影响，经营现金流较为紧张，需减少 未能带来及时现金流的非必要业务支出（包含对龙湖基地的持续资金投入），以保证公司目前正常的生 产经营；公司后续将寻找租户将土地对外出租获取租金收入。 除了"砍藤"，库存原酒的处理也显露了威龙股份的困境，公司预计对原酒计提减值金额达3875万元。 2026年公司生产技术质量科对库存原酒进行了质量等级鉴定，对现存原酒进行等级划分，针对年份较 长，质量下降已无法 ...

Core Viewpoint - Weilang Wine Co., Ltd. is expected to report a significant loss for the fiscal year 2025, with net profit projected to be between -66.11 million and -40.92 million RMB, primarily due to asset write-offs, impairment provisions, and bad debt provisions [10][12][16]. Group 1: Asset Write-Offs and Impairments - The company plans to write off 600 acres of its 1,000-acre grape plantation at the Longkou Longhu base, resulting in an estimated loss of 11.77 million RMB [1][2]. - The company will recognize an impairment of approximately 38.75 million RMB on its inventory of aged raw wine, which has deteriorated in quality and will be repurposed for distillation [2][6]. - The total expected impact on net profit from asset write-offs and impairments is approximately 54.40 million RMB [6]. Group 2: Bad Debts and Legal Matters - The company will fully provision for bad debts amounting to 6.65 million RMB owed by Xin Heng Green Agricultural Technology Co., Ltd. due to non-payment of rent [2][5]. - A legal case involving its subsidiary, Wuwei Weilang Organic Grape Planting Co., Ltd., is expected to result in a provision of 28 million RMB due to claims of breach of contract [5][6]. - The total impact from bad debts and legal provisions is estimated to reduce net profit by 28 million RMB [6]. Group 3: Financial Performance Expectations - The company anticipates total operating revenue for 2025 to be between 341 million and 391 million RMB, with core revenue (excluding non-operating income) expected to be between 315 million and 360 million RMB [12][16]. - The projected net loss for the year is significantly worse than the previous year's profit of 10.26 million RMB [19][21]. - The decline in revenue is attributed to a sluggish wine market and operational challenges, including the need to write off unproductive assets [21]. Group 4: Board and Audit Committee Opinions - The board of directors believes that the asset write-offs and impairment provisions are necessary to reflect the company's true financial condition [7][8]. - The audit committee has confirmed that the proposed actions comply with accounting standards and accurately represent the company's asset value [8].

Core Viewpoint - The company Shandong Weilong Co., Ltd. is expected to report a significant loss for the fiscal year 2025, with projected net losses ranging from 40.92 million to 66.11 million yuan, primarily due to a combination of market downturns and substantial asset write-offs [1][2]. Financial Performance - The company anticipates operating revenue between 341 million and 391 million yuan for 2025, with main business revenue expected to be between 315 million and 360 million yuan [2]. - The projected net loss for 2025 marks a stark contrast to the previous year's profit of 10.26 million yuan [2]. Asset Management - The company plans to scrap 600 acres of its 1,000-acre grape planting base, retaining only 400 acres for tourism purposes, which is expected to incur a loss of approximately 11.18 million yuan [2][3]. - A significant impairment of 38.75 million yuan is expected for inventory of raw wine due to quality degradation [3]. Operational Challenges - The company is facing operational difficulties, including a tight cash flow situation influenced by the actions of its controlling shareholder, which has led to a reduction in non-essential business expenditures [3]. - Legal issues have arisen from a subsidiary's inability to cultivate high-quality wine grapes, resulting in a provision for expected losses of 28 million yuan [4]. Governance Issues - The controlling shareholder, Xinghe Xirang, has faced criticism for failing to fulfill a commitment to increase shareholding, with no shares purchased despite a prior promise [5][6]. - The controlling shareholder is also embroiled in legal troubles, including allegations of fund misappropriation, which have further complicated the company's financial stability [6]. Market Position - The company is attempting to adapt to market conditions by planning to develop entry-level wines aimed at younger consumers and markets in lower-tier cities and rural areas [3].

Core Viewpoint - Weilang Co., Ltd. (威龙股份) is expected to report a significant loss for the fiscal year 2025, with projected net losses ranging from 40.92 million to 66.11 million yuan, primarily due to a combination of market downturns and substantial asset write-downs [1][2]. Financial Performance - The company anticipates revenue between 341 million and 391 million yuan for 2025, with main business income projected at 315 million to 360 million yuan, a stark contrast to a profit of 10.26 million yuan in the previous year [1]. - The expected loss is attributed to a decline in the wine market and a large-scale asset "clean-up" [1]. Asset Management - Weilang plans to scrap 600 acres of its 1,000-acre grape planting base, retaining only 400 acres for tourism, with an estimated write-off loss of 11.177 million yuan [2]. - The company will also recognize a write-down of 38.75 million yuan on its inventory of raw wine due to quality degradation [2]. Strategic Adjustments - In response to the challenges, Weilang is planning to develop entry-level wines targeting younger consumers and markets in third and fourth-tier cities [3]. - The company is seeking to rent out the land from the scrapped planting base to generate rental income [2]. Legal and Governance Issues - Weilang's subsidiary is facing a lawsuit due to soil infertility, leading to a projected loss of 28 million yuan [3]. - The company is also dealing with a bad debt of 6.65 million yuan from a tenant who has defaulted on rent [3]. Shareholder and Management Challenges - The controlling shareholder, Xinghe Xirang, is under scrutiny for failing to fulfill a commitment to increase shareholding, with the Shanghai Stock Exchange issuing a reprimand [4]. - The controlling shareholder's financial difficulties are compounded by legal issues, including allegations of fund misappropriation against the actual controller, Yan Pengfei [5]. - As of November 2025, a significant portion of the shares held by the controlling shareholder is frozen, raising concerns about potential changes in company control [5].

Core Viewpoint - Weilong Co., Ltd. announced the approval of asset write-offs, impairment provisions, and estimated losses related to receivables and litigation for the fiscal year 2025, reflecting a cautious approach to financial reporting [2] Group 1: Financial Decisions - The company held its 13th temporary meeting of the sixth board of directors and the first meeting of the audit committee for 2026 on January 20, 2026 [2] - The board approved a proposal to handle the write-off of certain assets, impairment provisions, and estimated losses related to receivables and litigation for the fiscal year 2025 [2] - The total amount of asset write-offs and impairment provisions is estimated to be approximately 62.68 million yuan [2]

Core Viewpoint - Weilong Co., Ltd. announced a projected loss for the fiscal year 2025, indicating a significant decline in financial performance [1] Financial Performance - The company expects to achieve an operating revenue between 341 million and 391 million yuan for 2025 [1] - After excluding non-core business income and income lacking commercial substance, the operating revenue is projected to be between 315 million and 360 million yuan [1] - The net profit attributable to shareholders of the listed company is expected to be a loss ranging from 66.11 million to 40.92 million yuan [1]

Core Viewpoint - Weilang Co., Ltd. (603779.SH) has announced a projected loss for the fiscal year 2025, indicating a challenging outlook for the company and the wine industry as a whole [1] Group 1: Company Performance - Weilang expects to achieve an operating revenue between 341 million to 391 million yuan for the year 2025 [1] - After excluding non-core business income and income lacking commercial substance, the operating revenue is projected to be between 315 million to 360 million yuan [1] - The net profit attributable to shareholders is anticipated to be a loss ranging from 66.11 million to 40.92 million yuan [1] Group 2: Industry Context - The wine industry is experiencing a downturn, which has led to a decrease in the company's main business revenue and subsequent operational losses [1]

Core Viewpoint - Wulong Co., Ltd. (603779.SH) announced a projected loss for the fiscal year 2025, attributing it to a downturn in the wine industry and a decrease in main business revenue [1] Financial Performance - The company expects to achieve operating revenue between 341 million yuan and 391 million yuan for 2025 [1] - After excluding non-core business income and income lacking commercial substance, the operating revenue is projected to be between 315 million yuan and 360 million yuan [1] - The net profit attributable to shareholders is expected to be a loss ranging from 66.11 million yuan to 40.92 million yuan [1] Industry Context - The wine industry is currently experiencing a market downturn, which has led to a reduction in the company's main business revenue and subsequent operational losses [1]