This article was adapted from “ 投 中 网 (ID: China-Venture) “, author: Peng will, the original title: “from an annual income of 5 billion to bankruptcy, this company became citron tea tea new rise of cannon fodder.”
After 16 months of suspension, Tian Wo International waited for the fate of being wound up.
7 years ago, with a honey grapefruit tea, Tianwo International achieved an annual revenue of 5 billion yuan, becoming a giant in the beverage industry at that time. At that time, the advertising words of “Healthy, Beautiful, Drinking, Honey, Citron Tea” spread all over the country, and Fan Bingbing, Li Xiaolu, Huang Xiaoming, Li Minhao and other stars rushed to speak for it.
However, Tianwo grapefruit tea is quietly offline from the supermarket, and the company’s performance has also plummeted, with a huge loss of 4.2 billion and facing the end of bankruptcy and liquidation. At the same time, the company was exposed to chaotic internal management, chairman Lin Jianhua was taken away, and many executives resigned, leaving a huge sum of 2.1 billion yuan in “abnormal transactions” on account.
Troubled internally and externally, making Tian Wo International’s situation more difficult. People can’t help wondering if the once “healthy and beautiful” days can successfully resume trading?
Suspended for 16 months, caught in 2.1 billion financial doubts
On May 8, 2018, Tian Wo International, a Hong Kong-listed company, issued a short suspension notice because Lin Jianhua, chairman of the board of directors, executive director and chief executive officer of the company, lost the link. Although after a brief resumption of trading, on August 13, 2018, Tian Wo International suspended trading again, and has been silent until now.
On January 2, 2020, Tianwo International submitted a resumption proposal to the Stock Exchange, but did not meet all the resumption conditions. The announcement also disclosed that since the appointment of the provisional liquidator, the Tianwo International Board and the provisional liquidator have been working with multiple potential investors