Chateau food 1 starting in June with more than 500 million more debt or flow under the COFCO | |-June top wineries _ news

Grand Chateau 1 "sold their bodies behind huge debts.

On April 15, the Beijing property rights trading center to hang out "COFCO's Chinese food to be 1 Yuan reserve price auction Chateau Grand top grain 55% stake in" message, caused an uproar. 1 auction, albeit accompanied by expensive "conditions", the successful bidder to take you top grain 392 million yuan in debts owed by the winery, while its external debt totaling more than 500 million Yuan.

According to industry knowledge, established in 2006 at the beginning, June COFCO group in the wine industry was seen as following the "great wall" after entering an important piece of the high-end wine market. However, due to management "no air", product pricing, June top wineries in the premium wine market performance with downward all the way down, 2015 loss 21.375 million Yuan, assets evaluation value is negative 50.17 million Yuan.

Deputy Secretary General of China Association for liquor circulation Zhao Yu believes that huge debt burden coupled with the winery following high operating costs, probably married top wine auction. Chinese food to COFCO's Hong Kong-listed company Beijing news reporters, if the "flow", "the company might choose to withdraw, or handled in a State-owned asset disposal program".

　　Auction

　　"1 and" changing "hot potato"

The listed conditions shows that June top wine buyers must pay off their outstanding loan principal of grain food management in 153 million Yuan and the corresponding interest. In addition, as a condition of the transaction, intention to buy from COFCO wine limited also hands the Shandong COFCO wines limited 55% equity.

However, the June top wineries starting price "1" look like "white cheap", but is a "hot potato", about the auctions do not look good.

On April 27, the Beijing News reporter for investor call Chinese food (COFCO's Hong Kong-listed company), head of investor relations of the Secretariat was informed that COFCO June Winery made continued losses in the past, "support the cumulative amount" up to 392 million Yuan, which means that future buyers at 1 Yuan to cover the June after the top wineries, you also need to pay such a huge amount of debt to the COFCO.

"The high operational costs of this Winery, addition to repay huge debts, took over, and later operation also requires huge expenditures. "The Deputy Secretary General of China Association for liquor circulation Zhao Yu believes that 3-5 is hard to change your top wineries in the loss situation, may need to be much higher than the debt service costs," If there are no other large State-owned enterprise buyers, you are likely to flow ".

Secretariat of Chinese food, head of investor relations, told reporters, "is a good thing for companies to sell the money losing assets", the abandoned Grand Chateau does not affect its other investments in the wine sector. But he also said the June top wineries to find buyers who will not be easy, if the "flow", "the company might choose to withdraw, or handled in a State-owned asset disposal program".

There is speculation that the listing transfer, longhua June another big shareholder groups or wholly taken over June top wineries. But as of press time, the Group has not responded.

　　Debt

　　Former star wineries now in debt of over 500 million

The sale June top Chateau shares, COFCO has shown "abandoned" determination. Listing information clearly says: "the intended transferee should undertake, upon completion of the stock transfer business registration will be initiated and completed in a timely manner is the subject of the enterprise changed its name, corporate name does not use the subject of ' grain ' or ' grain ' trademark. ”

Top winery in June 2006 was first established, however, had been regarded as COFCO, following the "great wall" brand, into the domestic market for high-end wines of important layout.

Official data shows that on February 14, 2006, COFCO Winery limited register set up by COFCO Shandong longhua and joint venture investment company in Penglai, Shandong province to build, a total investment of over 300 million Yuan, the designed annual output of 2000 tons, the total storage capacity of 3000 tons. Current 55%-owned COFCO, longhua 45%-owned group limited.

Long Hua Chen Yunchang, President of COFCO Group Chairman, Grand Chateau has said that top wine winery sets June production, manufacturing, hotel, tourism and leisure in one place. June top wineries with Changli Huaxia Winery, Huailai Mulberry dry Winery and Chateau clouds desert in Ningxia constitute China's "four vineyards".

However, large-scale, high investment has not been ideal investment results, June top wineries and heavy losses. Tone transfer notice shows that current June 2015 top winery revenue 73.4311 million Yuan, 21.375 million Yuan loss; revenue 9.2978 million yuan in the first quarter of this year, a loss of 8.9294 million Yuan.

To September 30, 2015 as the reference date, Chateau June total assets book value of 375 million Yuan, book value of liabilities totaling 544 million Yuan, a negative book value of 170 million yuan of net assets, valuation-91.22 million Yuan, transfer object (55% shares) corresponds to negative rating 50.17 million Yuan.

In the transfer bidding, Chinese foods to disclose the terms of the COFCO group: the successful bidder is required to undertake Grand Chateau and June in the wine industry as a whole to pay more than $ 392 million yuan in debt, while Grand Chateau total external debt reached more than 500 million Yuan.

These debts include: to borrow 140 million yuan from local banks in Penglai; 2015-2 – June 7 against Chinese food borrowing, interest total 153 million RMB; 2015-3-July 7 to borrow from Chinese food, principal and interest totals 140 million; borrow grain and great wall wine (Yantai) limited RMB 40 million; borrowed the COFCO Chinese wine Company Ltd of 30 million Yuan.

　　Performance

　　Huge loss or management "no air"

On April 27, June Winery sales operations director Huang Hezheng to Beijing news reporters, the current Winery auction implications on the daily work does not, but shrinking the company's strategy, personnel reduction.

Review inception, Grand Chateau was ambitious. In production, Grand Chateau France sea power established the first grafting seedling of virus-free company, aims to change the way China wine grape seedling varieties, quality and history. Grape base management, June worked with farmers to develop wine grape industry, the implementation of "integrated management, standardization of production."

All along, the June top winery products to high-end market, but the price is low, and high-end consumer restricted in recent years, their performance is affected. Because of the alcoholic beverage market environment in recent years, King Winery also adjusted prices for its products, but its low-end products priced between 200-300 and more product prices are still concentrated in the 500-700 element, market prices remained high.

Deputy Secretary General of China Association for liquor circulation Zhao Yu believes that June performance loss of the Chateau and COFCO management decision making "no air", and "after you top wines priced at 500 Yuan, some products even reach one thousand or two thousand Yuan, food business ideas in some overly ambitious." June Winery at the operational level have failed to sink the market, large upfront investment, resulting in high cost and product competitiveness, market share is small, the product chain is short, losses cannot be avoided.

Responsible editor: Ni Zi Jiang

Article keywords:
COFCO Grand Chateau

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中粮1元起拍君顶酒庄 背负5亿多巨债或流拍|中粮|君顶酒庄_新闻资讯

君顶酒庄1元“卖身”背后有巨额债务。

　　4月15日，北京产权交易中心挂出“中粮旗下中国食品拟1元底价拍卖中粮君顶酒庄55%股权”的消息，引起行业一片哗然。1元拍卖的背后实则附有昂贵的“条件”，中标者需承担君顶酒庄所欠中粮3.92亿元的债务，而其实际对外欠账总额高达5亿多元。

　　据业内了解，2006年成立之初，君顶酒业曾被中粮集团视作继“长城”之后进军高端葡萄酒市场的重要棋子。然而由于管理“不接地气”，产品定价过高，致使君顶酒庄在高端酒市场下行的情况下业绩一路下滑，2015年亏损2137.5万元，资产评估值为负5017万元。

　　中国酒类流通协会副秘书长赵禹认为，巨额债务压力加之酒庄后续高运营成本，很可能使君顶酒庄流拍。中粮旗下香港上市公司中国食品也向新京报记者表示，如果“流拍”，“公司可能会选择收回，或者按照国有资产处理程序进行处理”。

　　拍卖

　　“1元便宜”变“烫手山芋”

　　此次挂牌交易条件显示，君顶酒庄接盘者须代为清偿其所欠中粮食品管理有限公司的借款本金1.53亿元及相应利息。另外，作为交易条件之一，意向收购者还应从中粮酒业有限公司手中受让山东中粮君顶酒业有限公司55%股权。

　　然而，君顶酒庄起拍价“1元”虽看似“白捡便宜”，实则是个“烫手山芋”，外界对于此次拍卖并不看好。

　　4月27日，新京报记者以投资者身份致电中国食品（中粮旗下香港上市公司）秘书处投资者关系负责人得知，中粮过去对君顶酒庄持续亏损所做出的“支持累积金额”达3.92亿元，这意味着未来接盘者在1元拍得君顶酒庄后，还需要向中粮集团支付这笔巨额债务。

　　“这种酒庄的运营成本很高，接手者除了要偿付巨额债务外，后期运营也需要巨大支出。”中国酒类流通协会副秘书长赵禹认为，三至五年内很难改变君顶酒庄的亏损现状，可能需要远高于偿还债务的成本，“如果没有另一家大型国有企业接盘，则很可能会流拍”。

　　中国食品秘书处投资者关系负责人向记者透露，“卖掉亏损资产对公司来说是一件好事”，此次放弃君顶酒庄并不影响其在葡萄酒板块的其他投资。但他同时称，君顶酒庄找到接盘者并非易事，如果“流拍”，“公司可能会选择收回，或者按照国有资产处理程序进行处理”。

　　有猜测称，此次挂牌转让，君顶另一大股东隆华集团或将全资接手君顶酒庄。但截至发稿，该集团并未做出回应。

　　债务

　　昔日明星酒庄如今负债超5亿

　　此次出售君顶酒庄股份，中粮方面显示出“彻底放弃”的决心。挂牌信息明确称：“意向受让方须承诺，完成股权转让工商变更登记后，将及时办理并完成标的企业的更名，标的企业公司名称不使用‘中粮’字样，也不再使用‘中粮’商标。”

　　然而君顶酒庄在2006年成立之初，曾被视作中粮集团继“长城”品牌后，进军国内高端葡萄酒市场的重要布局。

　　官方资料显示，2006年2月14日，中粮君顶酒庄有限公司注册设立，由中粮集团与山东隆华投资有限公司在山东蓬莱合资兴建，总投资超过3亿元，设计年产量2000吨，总储酒能力3000吨。目前中粮持股55%，隆华集团有限公司持股45%。

　　隆华集团董事长、中粮君顶酒庄总裁陈云昌曾表示，将把君顶酒庄做成集葡萄酒生产、制造、酒店、旅游休闲于一体的场所。君顶酒庄曾与昌黎的华夏酒庄、怀来的桑干酒庄和宁夏的云漠酒庄一同构成中国“四大酒庄”。

　　然而，大规模、高投资却并未带来理想的投资效果，君顶酒庄亏损严重。挂牌转让公告显示，目前君顶酒庄2015年营收7343.11万元，亏损2137.5万元；今年一季度营收929.78万元，亏损892.94万元。

　　以2015年9月30日为评估基准日，君顶酒庄资产总计账面价值为3.75亿元，负债总计账面价值5.44亿元，净资产账面价值为负1.7亿元，评估价值为负9122万元，转让标的（即55%股权）对应的评估值为负5017万元。

　　在此次转让招标中，中粮集团旗下中国食品披露了收购条件：成功中标者须承担君顶酒庄及君顶酒业合计对中粮逾3.92亿元的债务，而君顶酒庄合计对外欠债达5亿多元。

　　这些债务包括：向蓬莱当地银行借款1.4亿元；2015年2-6月分7笔向中国食品借款，本息合计1.53亿元；2015年3-7月分7笔向中国食品借款，本息合计1.40亿元；借入中粮长城葡萄酒（烟台）有限公司4000万元；借入中粮华夏葡萄酒有限公司3000万元。

　　业绩

　　巨额亏损或因管理“不接地气”

　　4月27日，君顶酒庄销售运营总监黄河政向新京报记者透露，目前酒庄的日常工作并未受到拍卖影响，但公司战略正在收缩，人员有所减少。

　　回顾创建之初，君顶酒庄曾野心勃勃。在生产上，君顶酒庄与法国阿海威公司成立了国内首家脱毒嫁接苗木的专业公司，目的是改变中国酿酒葡萄苗木品种、品质和历史。在葡萄基地管理上，君顶与农民合作开发酿酒葡萄产业，实行“一体化经营，标准化生产”。

　　一直以来，君顶酒庄产品定位高端市场，但性价比较低，加之近几年高端消费受限，使其业绩受到影响。由于近几年酒类市场环境恶化，君顶酒庄也对其产品价格做了调整，但其低端产品价格在200-300元之间，更多产品价格仍集中在500-700元间，市场价格仍然偏高。

　　中 国酒类流通协会副秘书长赵禹认为，君顶酒庄的业绩亏损与中粮集团管理决策的“不接地气”有关，“此前君顶葡萄酒定价都在500元以上，一些产品甚至达到一 两千元，中粮的经营思路有些好高骛远”。君顶酒庄在执行层面未能真正沉下去做市场，前期投资过大，造成成本过高，而产品竞争力不足、市场份额小、产品链条 短，亏损无法避免。

责任编辑：倪子牮

文章关键词：
中粮 君顶酒庄

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