WLGF(SH:603779) Mei Ri Jing Ji Xin Wen·2026-01-20 15:14Core Viewpoint - The company Shandong Weilong Co., Ltd. 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-offs [1][2]. Financial Performance - The company anticipates operating revenue between 341 million and 391 million yuan for 2025, with main business revenue expected to be between 315 million and 360 million yuan [2]. - The projected net loss for 2025 marks a stark contrast to the previous year's profit of 10.26 million yuan [2]. Asset Management - The company plans to scrap 600 acres of its 1,000-acre grape planting base, retaining only 400 acres for tourism purposes, which is expected to incur a loss of approximately 11.18 million yuan [2][3]. - A significant impairment of 38.75 million yuan is expected for inventory of raw wine due to quality degradation [3]. Operational Challenges - The company is facing operational difficulties, including a tight cash flow situation influenced by the actions of its controlling shareholder, which has led to a reduction in non-essential business expenditures [3]. - Legal issues have arisen from a subsidiary's inability to cultivate high-quality wine grapes, resulting in a provision for expected losses of 28 million yuan [4]. Governance Issues - The controlling shareholder, Xinghe Xirang, has faced criticism for failing to fulfill a commitment to increase shareholding, with no shares purchased despite a prior promise [5][6]. - The controlling shareholder is also embroiled in legal troubles, including allegations of fund misappropriation, which have further complicated the company's financial stability [6]. Market Position - The company is attempting to adapt to market conditions by planning to develop entry-level wines aimed at younger consumers and markets in lower-tier cities and rural areas [3].