Core Viewpoint - The company, Yihai Kerry Arawana Holdings Co., Ltd. (referred to as "Golden Dragon Fish"), is contesting a first-instance court ruling that found its subsidiary, Yihai (Guangzhou) Grain and Oil Industry Co., Ltd. (referred to as "Guangzhou Yihai"), guilty of contract fraud, resulting in a fine of 1 million yuan and a compensation liability of 1.881 billion yuan to Anhui Huawen International Trade Co., Ltd. [3][4][6] Group 1 - Guangzhou Yihai received a criminal judgment on November 19, which stated that it was an accomplice in contract fraud, leading to a significant economic loss for Anhui Huawen [3][4] - The company has filed an appeal against the judgment and maintains that it is innocent, asserting that it was misled by Anhui Huawen's executives who were involved in fraudulent activities [4][5] - The management of Golden Dragon Fish expressed shock at the ruling and emphasized their commitment to supporting Guangzhou Yihai in the appeal process [4][6] Group 2 - The chairman of Guangzhou Yihai, Fang Yanjian, claimed that the case's essence involves Anhui Huawen and Yunnan Huijia engaging in illegal financing trade, with the latter allegedly bribing Anhui Huawen's executives [5][6] - Fang Yanjian stated that the company has no reason to assist in defrauding a state-owned enterprise and highlighted the significant investments made by the parent company in China, amounting to approximately 100 billion yuan [5][6] - The president of Golden Dragon Fish, Mu Yanquan, pointed out that the judgment contradicts basic business logic, as Guangzhou Yihai's storage capacity could not accommodate the alleged volume of palm oil involved in the case [6][7] Group 3 - The company reported that its revenue for the first three quarters of 2025 was 184.3 billion yuan, with a net profit of 2.749 billion yuan [7] - If the appeal fails, Golden Dragon Fish may face a financial impact, as the compensation amount could represent about 68% of its net profit for the period [7] - As of November 21, Golden Dragon Fish's stock price closed at 30.88 yuan per share, reflecting a decline of 2.92% [7][8]
金龙鱼召开一审判决结果说明会,表态称没有理由诈骗安徽华文