Daewoo Textile In Debt "Mire" Business Losses Serious

Yesterday, reporters from the National SME share pfer system was informed that China and Thailand securities Limited by Share Ltd issued on Shandong Daewoo textile Limited by Share Ltd (Daewoo textile.836593.OC) risk warning notice, Daewoo textile into debt "quagmire."

The announcement showed that the loans of Daewoo textile multi bank and other financial institutions were overdue and the debt was overdue, totaling 11, with a total sum of 60 million 999 thousand and 250 yuan.

In addition, on the 12 day of April 2018, after the two trial, the court decided that the defendant Daewoo textile paid the plaintiff Liaocheng yuan Kaiyuan Private Capital Management Co., Ltd., the loan principal was 2767320 yuan, but Daewoo textile did not execute the civil judgment.

Daewoo textile also has many lawsuits. Its controlling shareholder and actual controller are included in the dishonest executor.

Daewoo textile was registered on 03 November 2005 in Wei Wan Town, Linqing City, Shandong province. The legal representative, Ding Shitong, mainly engaged in the production and sale of all cotton yarn, cotton yarn and blended yarn.

Daewoo textile on 2016 04, 01, listed on the new third board of the basic level.

The annual reports of Daewoo textile since landing on the new third board have found that Daewoo textile 2016 revenue and profit indicators decreased significantly, and the profit indicators in 2017 and the first half of 2018 were negative.

In view of this loss, the explanation given by Daewoo textile in the 2018 semi annual report is that the environmental pollution problem has resulted in the closure of the upstream and downstream industries of the industry and the reduction of production, resulting in a large fluctuation in the prices of raw materials and products, resulting in a great change in the company's reporting and earnings.

According to public information, Daewoo textile revenue in the first half of 2018 was 18 million 800 thousand yuan, down 26.68% compared to the same period last year. Net profit -297.6 million yuan, compared to 287 thousand yuan in the same period last year. During the reporting period, the net cash flow generated by the company's operating activities was -11800758.85 yuan, a decrease of 12889035.30 yuan over the same period last year.