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The former "grain and oil king" is mired in the quagmire, can Xiwang Group get out of the predicament?
Xiwang Group, the former "first share of corn oil", is now mired in the quagmire, for three consecutive years received the Shenzhen Stock Exchange annual report inquiry letter, the founder was listed as a dishonest executor, the stock price fell into a "penny stock" Xiwang Group What happened?
Xiwang Crisis: Letters of Inquiry, Enforcement and Falling Stock Prices
In recent years, Xiwang Group can be described as troublesome, the Shenzhen Stock Exchange for three consecutive years for its annual report issued a letter of inquiry, which is not a good sign for a listed company, even worse, the founder Wang Yong and his son were listed as dishonest executors, which undoubtedly brought a heavy blow to the reputation of Xiwang Group, and the capital market also made the most direct response, Xiwang Real Estate and Xiwang Special Steel's share price has been lower, the former has fallen into a "penny stock", which is embarrassing
The once glorious "first village of listed companies" is now facing such a dilemma, which can't help but make people worry about whether Xiwang Group can regain its former glory?
Huge debts overwhelm Xiwang Group's capital chain is in an emergency?
Xiwang Group's predicament, largely stemming from the heavy debt burden, according to public data, Xiwang Group to repay the debt this year is close to 800 million yuan, an increase of 746 million yuan over last year, what is more worrying is that the capital chain of Xiwang Group seems to have problems, some media reported that Xiwang Group's funds for repaying 3 billion debts have been frozen, which undoubtedly makes the already tight capital chain worse
Faced with the dual pressure of huge debts and tight capital chains, how to resolve the crisis of Xiwang Group has become a difficult problem in front of the management
Large deposits and large loans have caused controversy, and Xiwang Group's capital management has been questioned
In the inquiry letter of the Shenzhen Stock Exchange, the phenomenon of "large deposits and big loans" of Xiwang Group has been repeatedly mentioned, and the data shows that in 2023, Xiwang Group's monetary funds will be as high as 1.7 billion yuan, far exceeding its daily business needs, but Xiwang Group is still burdened with huge debts, which has aroused widespread doubts from the outside world
Huge amounts of money lie in the account, but still have to bear high interest expenses; In addition, the normal operation of the enterprise needs to rely on continuous borrowing to maintain, and this practice of "tearing down the east wall to make up for the west wall" has also made the outside world doubt the capital management ability of Xiwang Group
The success or failure of cross-border acquisitions has hindered Xiwang Group's "going out" strategy
In 2016, Xiwang Group spent $730 million to acquire the Canadian sports health products company K, trying to enter the overseas market, but this acquisition has become a major failure on the development path of Xiwang Group
In order to maintain the operation of Company K, Xiwang Group had to continue to "transfuse", which further exacerbated the tension of its capital chain, and the failure of cross-border acquisitions also sounded the alarm for Xiwang Group, and blindly "going out" would only make itself fall into a deeper quagmire
Can focusing on the main business save itself? Xiwang food has become a lifesaver?
In recent years, Xiwang Group has begun to gradually strip off non-core assets and refocus its strategic focus on the main business of grain and oil, judging from the 2023 annual report released by Xiwang Food, its revenue and net profit have achieved positive growth, which is undoubtedly good news for Xiwang Group, which is mired in the quagmire
In the fierce market competition environment, can Xiwang Food alone really support the entire Xiwang Group? It will take time to come up with an answer
From a "star enterprise" to a "problem enterprise", the rise and fall of Xiwang Group
The experience of Xiwang Group has also sounded the alarm for many private enterprises, blind expansion and diversified development will eventually only put themselves in trouble
The future of Xiwang Group: challenges and opportunities coexist
As long as we can learn the lessons of the past, properly handle the debt problem and focus on the development of the main business, Xiwang Group still has the opportunity to get back on track
Where will the future of Xiwang Group go? Let's wait and see!
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