YKA(SZ:300999) Nan Fang Du Shi Bao·2025-11-21 13:57Core 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. [4][5] Group 1 - Guangzhou Yihai has filed an appeal against the first-instance ruling, asserting that it is not guilty of fraud and that it was misled by Anhui Huawen's executives who engaged in fraudulent activities [4][5] - The chairman of Guangzhou Yihai, Fang Yanjian, stated that the case involves illegal financing activities by Anhui Huawen and Yunnan Huijia Import and Export Co., Ltd., and that Anhui Huawen was complicit in the fraud [4][5] - The company claims that the first-instance ruling contradicts basic business logic, citing that Guangzhou Yihai's oil tank capacity is only 160,000 tons, making it impossible to store over 1 million tons of palm oil as alleged [6] Group 2 - 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 [6] - If the second-instance ruling upholds the first-instance decision, Golden Dragon Fish may face a financial impact where the compensation amount could account for approximately 68% of its net profit for the first three quarters [6] - As of November 21, the stock price of Golden Dragon Fish closed at 30.88 yuan per share, reflecting a decline of 2.92% [7]