Core Viewpoint - Zhang Xiaoqin Group is facing severe financial difficulties, with debts exceeding 59.25 billion yuan, leading to court actions and potential restructuring efforts [5][8]. Debt Situation - As of April 2, 2023, Zhang Xiaoqin Group has 8 court execution records, with a total amount exceeding 39 billion yuan [5]. - The group has debts of 80.34 million yuan as a borrower and 512.15 million yuan as a guarantor, totaling approximately 592.49 million yuan [7]. - The company is attempting to mitigate risks through a pre-restructuring process initiated by the court for its indirect controlling shareholder, Fuchun Holdings Group [8]. Corporate History and Recent Events - Zhang Xiaoqin, founded in 1628, has a long history and was recognized as a national intangible cultural heritage [9]. - The company went public in 2021, achieving a market value of 4.6 billion yuan on its first trading day [9]. - The company has faced reputational damage due to incidents like the "garlic smashing" controversy and subsequent penalties for organizing fake reviews [10][11]. Financial Performance - The net profit for Zhang Xiaoqin was 41.49 million yuan in 2022 and 25.12 million yuan in 2023, representing declines of 47.3% and 39.48% year-over-year, respectively [13]. - Sales expenses have increased from 117 million yuan in 2021 to 148 million yuan in 2023, despite declining revenues [13]. - As of April 3, 2023, the stock price of Zhang Xiaoqin was 15.25 yuan, nearly halving from its peak [13].
从“拍不了蒜”到债务缠身，400年的张小泉怎么了？