威龙葡萄酒股份有限公司关于公司2025年度部分资产报废处理、计提减值和应收坏账、诉讼事项预计损失处理的公告

Core Viewpoint - Weilang Wine Co., Ltd. is expected to report a significant loss for the fiscal year 2025, with net profit projected to be between -66.11 million and -40.92 million RMB, primarily due to asset write-offs, impairment provisions, and bad debt provisions [10][12][16]. Group 1: Asset Write-Offs and Impairments - The company plans to write off 600 acres of its 1,000-acre grape plantation at the Longkou Longhu base, resulting in an estimated loss of 11.77 million RMB [1][2]. - The company will recognize an impairment of approximately 38.75 million RMB on its inventory of aged raw wine, which has deteriorated in quality and will be repurposed for distillation [2][6]. - The total expected impact on net profit from asset write-offs and impairments is approximately 54.40 million RMB [6]. Group 2: Bad Debts and Legal Matters - The company will fully provision for bad debts amounting to 6.65 million RMB owed by Xin Heng Green Agricultural Technology Co., Ltd. due to non-payment of rent [2][5]. - A legal case involving its subsidiary, Wuwei Weilang Organic Grape Planting Co., Ltd., is expected to result in a provision of 28 million RMB due to claims of breach of contract [5][6]. - The total impact from bad debts and legal provisions is estimated to reduce net profit by 28 million RMB [6]. Group 3: Financial Performance Expectations - The company anticipates total operating revenue for 2025 to be between 341 million and 391 million RMB, with core revenue (excluding non-operating income) expected to be between 315 million and 360 million RMB [12][16]. - The projected net loss for the year is significantly worse than the previous year's profit of 10.26 million RMB [19][21]. - The decline in revenue is attributed to a sluggish wine market and operational challenges, including the need to write off unproductive assets [21]. Group 4: Board and Audit Committee Opinions - The board of directors believes that the asset write-offs and impairment provisions are necessary to reflect the company's true financial condition [7][8]. - The audit committee has confirmed that the proposed actions comply with accounting standards and accurately represent the company's asset value [8].