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dynasty fine wines group ltd (828) Details

Dynasty Fine Wines Group Limited, an investment holding company, produces and sells grape wine products primarily in the People’s Republic of China and Hong Kong. The company offers approximately 100 types of wine products in 5 categories, including red wines, white wines, sparkling wines, ice wine, and brandy under the Dynasty brand name. It also manufactures and sells unprocessed wine; and sells foreign brand wines. The company sells its wine products through a network of distributors and retail shops, as well as through online. Dynasty Fine Wines Group Limited was founded in 1980 and is based in Wanchai, Hong Kong.

Founded in 1980

dynasty fine wines group ltd (828) Top Compensated Officers

Chairman
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Financial Controller and Company Secretary
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Chief Senior Food Engineer, Technical Directo...
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Vice Chief Engineer of Dynasty Winery
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Chief Economist of Dynasty Winery
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Compensation as of Fiscal Year 2017.
dynasty fine wines group ltd
Dynasty Fine Wines Group Ltd. Provides Earnings Guidance for the Six Months Ended 30 June 2017

The board of directors of Dynasty Fine Wines Group Ltd. informed the shareholders of the company and potential investors that it is anticipated the Group would continue to record an unaudited consolidated loss for the six months ended 30 June 2017 as compared to the unaudited consolidated loss for the same period last year.

Dynasty Fine Wines Group Ltd. Provides Earnings Guidance for the Year Ended 31 December 2016

The board of directors of Dynasty Fine Wines Group Ltd. informed the shareholders of the company and potential investors that it is anticipated the Group would continue to record an unaudited consolidated loss for the year ended 31 December 2016 as compared to the unaudited consolidated loss for the previous year. Based on the review of the preliminary estimate and assessment made with reference to the draft unaudited consolidated management accounts of the Group for the year ended 31 December 2016 currently available to the Board, such loss estimate is mainly attributable to: a decrease in revenue as a result of more cautious consuming sentiments amid the impact of economic slowdown in China; unsatisfactory sales performance in the nationwide supermarket channel which is one of main off-trade channels of the Group and impact of imported wines especially low to medium end imported wines which grab the market shares of domestic wines; and an increase in distribution costs as a percentage of revenue compared to previous year's due to continuous increase in investment in brand building, re-adjustment of sales and marketing channels in response to the market change and sustainable development of the company, which offset the gross profit. It is expected that the amount of the unaudited consolidated loss for the year ended 31 December 2016 would decrease by approximately 40% as compared with unaudited consolidated loss for the previous year, subject to potential adjustments and finalization that might be incurred during the audit. The decrease in the amount of loss was primarily due to decrease in provision for impairment in inventories during the year.

Dynasty Fine Wines Group Limited Announces Delay in Publication of the 2016 Annual Results

The management of Dynasty Fine Wines Group Limited has been providing additional information and documents to PwC for the audit of the consolidated financial statements of the company for the year ended December 31, 2016. As the audit for the financial year 2012 to the financial year 2015 is yet to be completed, the progress of audit for the financial year 2016 is affected and delayed. For the reasons set out above, the publication of the 2016 annual results will be delayed and such delay constitutes a breach of Rule 13.49(1) of the Listing Rules.

 

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