Another company called "Moutai" was born, or a listed company?
On February 16, the topic of #Xinyang Maojian proposed to change its name to China's national dragon Maotai # was on the hot search.
Originally, on February 16, Hong Kong-listed company Xinyang Maojian (HK.00362) issued an announcement announcing that the company's board of directors proposed to change the company's English name from "XinyangMaojian GroupLimited" to "ChinaDragonMoutai GroupLimited" and adopted "China Guolong Moutai Group Co., Ltd." as the company's Chinese second name to replace the existing name "Xinyang Maojian Group Co., Ltd."
Why change the name? The Board is of the view that the proposed change in the company name will better reflect the current state of the Group's business development and its future direction. The Board believes that the new name will establish a more appropriate corporate image and identity for the Company, which will benefit the Company's business development and serve the best interests of the Company and its shareholders as a whole.
According to exchange data, as of press time, Xinyang Maojian reported 0.435 Hong Kong dollars, the stock price has been less than 1 Hong Kong dollar for more than 4 consecutive years, and the market value is only 600 million Hong Kong dollars, which is a "fairy stock".
Name change multiple times
According to Wind data, Xinyang Maojian, formerly known as China Tian Chemical Group Co., Ltd., is a manufacturer and supplier of coal-related chemical and biochemical raw materials. Originally a petrochemical company, the Group turned to the development and development of the coal chemical industry in anticipation of the risk of higher crude oil prices in 2004. The Group has successfully transformed four state-owned enterprises through bidding, acquisitions and other forms, and after production expansion and technological transformation, the Group has formed a production chain of upstream and downstream business of coal-related chemical raw materials. On 4 April 2007, after the sale of its petrochemical business, China Sky Chemical focused on the development of coal-related chemical raw material manufacturing business.
In January 2018, China Tian chemical announced on the Hong Kong Stock Exchange that it had acquired tea marketer Xinyang Maojian from two investors for HK$85.8 million and proposed to change its name to "Xinyang Maojian Group Co., Ltd.". At that time, the company's board of directors said that the name change was that it believed that the Chinese tea business would become one of the main sources of revenue and profit for the group in the future, and hoped to achieve green transformation.
In November 2018, the company officially changed its name to Xinyang Maojian and used the previous stock code "0362".
It is worth noting that when China Tianhua changed its name to Xinyang Maojian that year, there was a voice on the Internet saying that "Xinyang Maojian is a public brand and cannot be used by a certain enterprise as a plaything for capital operation." ”
In addition, in March 2020, Xinyang Maojian announced that it intended to change its name to "New China Economic Group Holdings Limited", but later said that it would delay sending a name change circular.
Alcohol sales accounted for 30% of revenue
Xinyang Maojian's latest financial report shows that in the whole year of 2020, the company achieved operating income of 223 million Hong Kong dollars, an increase of 49% year-on-year, and achieved a net profit loss of 78.417 million Hong Kong dollars.
Judging from the financial report, although the name of the listed company is "Xinyang Maojian", the tea business is not the main business. In addition, according to the financial report of Xinyang Maojian, there is indeed a liquor sales business in its business segment. In 2020, Xinyang Maojian's revenue in the liquor sales sector was 0.69 billion yuan, accounting for about 30% of its annual revenue.
Xinyang Maojian said in the financial report, "Since 2018, the Group has been actively exploring business opportunities. In the past five years since 2015, China's alcohol market has maintained a rapid growth of 5% to 7.1%. As of December 31, 2019, the annual revenue of China's liquor market was 562 billion yuan. Therefore, with the continuous development of China's economy, the alcohol market is expected to grow steadily. The Group seized the huge market opportunity and expanded its beverage division through the sale of alcohol at the end of 2020. ”
On 2 February 2021, Xinyang Maojian announced that Mudanjiang Longjin Liquor Co., Ltd., a wholly-owned subsidiary of the Company, entered into a sale and purchase agreement with beijing Yaolailong Micro Liquor Co., Ltd. for a consideration of HK$80 million, of which HK$5 million was paid in cash and an acceptance note with a total principal amount of HK$75 million.
Xinyang Maojian said in the announcement that the target company's business partner Shanghai Gaocheng is a favorable marketing expert for China's liquor business. Shanghai Gaocheng has launched the promotion of famous liquor brands such as Guizhou Moutai and Wuliangye. On the other hand, the target company owns a series of trademarks, including the Jackie Chan trademark.
The Board of Directors believes that the cooperation between the target company and Shanghai Gaocheng will have an effective synergy effect on the sale of alcohol. The integration of Jackie Chan's trademark and liquor will bring synergies to the company and can dominate China's huge liquor market.
The Company believes that the Acquisition is in line with the Overall Business Direction of the Group and is an investment opportunity to strengthen the Group's customer base and expand its capabilities in the PRC liquor market.
And this may be the reason why Xinyang Maojian changed its name to "China Guolong Moutai Group Co., Ltd."
Netizen: Rubbing Moutai heat
As soon as the news that Xinyang Maojian planned to change its name to "China Guolong Moutai Group Co., Ltd." was released, it attracted a lot of discussion among netizens. Some netizens said, "This company has changed its name several times, rubbing heat everywhere"; some netizens said, "Xinyang Maojian is really miserable" and "Maotai: it is love to rub".
However, it should be noted that the current name change to "China Guolong Moutai Group Co., Ltd." is only a suggestion of the board of directors and has not really been adopted. The announcement also noted that the name change would require the approval of the Extraordinary General Meeting of Shareholders and the approval of the Registrar of Companies in Bermuda.
Source: Shandong Business Daily
Original title: The company with a stock price of a few cents wants to change its name to "Guolong Maotai"! Netizen: Did Moutai agree?
Edited by Ruitian Lu