Gu Yuelongshan to liquidate and write off subsidiaries

On August 6, gu Yuelongshan (600059), the leader of the yellow wine industry, held the ninth meeting of the 8th Board of Directors on August 2, 2019, and the notice of this meeting was issued in writing on July 22, 2019, by means of a communication vote, and should be held with 10 directors and 10 directorsThe procedure for convening and convening the meeting conforms to the provisions of the Company Law and the Articles of Association, and the directors of the meeting consider and pass the Bill on the proposed liquidation and cancellation of Shenzhen Liquor CompanyTo liquidate and cancel its subsidiary, Shenzhen Gu Yuelongshan Liquor Co., Ltd(hereinafter referred to as "Shenzhen Liquor Company")Shenzhen Liquor Company was founded in 2001, the registered capital is 1 million yuan, of which the company accounted for 55% of the registered capital, Shenzhen Jushilai Wine Co., Ltd(hereinafter referred to as "Shenzhen Jushilai Wine Industry") accounted for 45% of the registered capital, is a holding subsidiary of the CompanyCompany business scope: pre-packaged food wholesale, ordinary freightAs of December 31, 2018, Shenzhen Liquor Co., China has total assets of RMB11,442.2 million, liabilities totaling RMB5,063.9 million, net assets of RMB6.3783 million, and rmb 6.5944 million in 2018, net profit of RMB44.71 millionAs of June 30, 2019, Shenzhen Liquor Co., China has total assets of 6.5301 million yuan, liabilities totaling 53.16 million yuan, net assets of 599.85 million yuan, and operating income of 61.41 million yuan and net profit of 46.01 million yuan in January-June 2019liquidation and write-off of the Shenzhen Company will change the scope of the company's consolidated financial statements accordingly, but will not have a significant impact on the company's overall business development, will not harm the company and shareholdersThe development of the Guangdong market will select distributors on the basis of merit, which is conducive to improving the efficiency of the company's assets operation, reducing management level and saving management costson theGu YuelongshanChina Shaoxing Yellow Wine Group Co., Ltdis a leading enterprise in China's yellow wine industry, one of the 520 national key enterprises, the vice chairman of the China Wine Association unit, the chairman of the Huang liquor branch of the China Wine AssociationSource: DigBay