China’s largest dairy farm operator Huishan Dairy said on Wednesday [1 November 2017] that a debt restructuring plan has won the support of more than half of its mainland creditors, representing more than two-thirds of the outstanding amount owed by the company…Full Article: South China Morning Post Nov 2017
- According to their filing with the Hong Kong Stock Exchange, Huishan Dairy (HKG:6863) hopes to achieve normal operating activities and have positive cash flow by March 31st, 2018.
- In July 2017, Huishan Dairy issued a debt restructure plan.
- 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.
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