China’s debt-laden Huishan Dairy said its debt restructuring advisor has proposed grouping the businesses of the company and selected assets of its chairman Yang Ka and his own ventures together to form a new entity held by some of its creditors, shareholders and management…Full Article: South China Morning Post July 2017
- In June 2017, Huishan Dairy stated it had CNY 26.73 billion (~USD 4.10 billion) in debt (both bank and non-bank loans).
- On 24 March 2017, China Huishan Dairy (HKG:6863) suspended its shares after they dropped 86% in value in 90 minutes.
- In December 2016, Muddy Water LLC, a California-based due diligence firm, published a financial report accusing China Huishan Dairy (HKG:6863) of fraud. Since 2014 (perhaps even earlier), according to Muddy Water, Huishan Dairy was not self-sufficient in alfalfa production as claimed by the company. Instead, the company purchased alfalfa from other companies/distributors, casting doubt on the underlying financial strength of Huishan Dairy.
- In April 2015, China Huishan Dairy (HKG:6863) and Royal FrieslandCampina established a Chinese joint venture.
- In September 2013, China Huishan Dairy (HKG:6863) began trading on the Hong Kong Stock Exchange.
- In January 2013, Huishan Dairy introduced its first infant formula milk powder product that was developed with Switzerland’s Hero Group.
- In 2011, Switzerland’s Hero Group purchased a stake in China Huishan Dairy.
- Founded in 1951 and headquartered in Shenyang, Liaoning Province, China Huishan Dairy (HKG:6863) is a dairy produce whose product line includes fresh milk, infant formula, and alfalfa (animal feed). As of early 2013, China Huishan Dairy had an infant formula production capacity of 160,000 MTs annually.
Hong Kong Trends