业绩变脸！威龙股份因“缺钱”计划砍掉600亩葡萄树，2025年度归母净利润预亏最高超6600万元

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].