Chang Jiang Shang Bao·2025-09-24 19:16Core Viewpoint - Xinhua Jin (600735.SH) is facing significant financial challenges, including a non-operational fund occupation of 406 million yuan by its controlling shareholder, Xinhua Jin Group, which has not been repaid as of the announcement date [1][3][4]. Group 1: Financial Situation - As of the latest report, Xinhua Jin's non-operational fund occupation stands at 406 million yuan [1][3]. - In 2024, Xinhua Jin reported a revenue of 1.637 billion yuan, a decrease of 30.97% year-on-year, and a net loss of 134 million yuan, a decline of 354.59% [10]. - For the first half of 2025, the company achieved a revenue of 669 million yuan, down 24.92% year-on-year, with a net profit of 12.87 million yuan, a decrease of 39.45% [10]. Group 2: Regulatory Actions - The regulatory authority has mandated Xinhua Jin to rectify the fund occupation issue within six months, failing which the company's stock may face suspension and potential delisting [2][4]. - The company has been instructed to actively recover the occupied funds to protect the interests of the listed company and minority shareholders [3][4]. Group 3: Shareholder Actions and Agreements - Xinhua Jin Group is in the process of transferring 100% equity of Jimo Yellow Wine to Qingdao Beer for a total consideration of 665 million yuan, but no progress has been reported in the last four months [5][8]. - The Jimo Yellow Wine company, under Xinhua Jin Group, reported a revenue of 166 million yuan in 2024, with a year-on-year growth of 13.5% [6].