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Tong Ren Tang: "Honey Gate" incident is expected to reduce net profit of 50.78 million yuan in 2018

February 11, 2019 20:04
source: First finance

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February 11th,Tong Ren TangannouncementIt said that the company violated the relevant provisions of the Food Safety Law and was fined RMB 1,408,200. According to the above treatment, it is expected that Tongrentang Bee Industry will be reduced in 2018Operating incomeApproximately 14.5622 million yuan, reducing the total profit of about 113,000 yuan; reducing the attribution to the parent companyNet profitAbout 5,776,600 yuan.

Tongrentang announced that the Daxing District Food and Drug Administration had determined that 2,284 bottles of honey produced by Tongrentang Bee Industry in October 2018 had entered the market, confiscated illegal income of RMB 111,700 and confiscated 3,300 bottles of honey. At the same time, the Tongrentang Bee Food Business License shall be revoked and no food production and operation license shall be applied within five years.

According to the announcement, the equity of Tongrentang Bee Industry will be transferred to the company. The transfer will be based on December 31, 2018 as the base date for evaluation, using the cost method and income method. As of December 31, 2018, Tongrentang apiculture had total assets of 182 million yuan, net assets of 585.74 million yuan, income of 265 million yuan, and net profit loss of 114 million yuan (financial data unaudited).

At the same time, the announcement stated that Liu Xiangguang, the director of the company, resigned as a director of the company due to work reasons, and his resignation took effect on February 11, 2019.

According to financial data, as of the third quarter of 2018, Tongrentang Bee Industry's operating income was 197 million yuan, and its net profit loss was 873,000 yuan. Its operating income accounted for 10.387 billion yuan of operating income (unaudited) in the first three quarters of the company. 1.88%, the company's net profit for the first three quarters of 2018 (unaudited) was 1.449 billion yuan.

As of today's close, Tong Ren Tang rose 1.74% to 27.42 yuan.

(Article source: First Finance)

                (Editor: DF506)

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