Hainan Yedao (Group) Co., Ltd. produces and sells alcoholic products and beverages in China. Its offerings include deer and turtle wine series, neptune wine series, Coco Island Guowei series, Guitai Sauce wine series, Coco Island Sea series, Haikou Daqu, and original liquor, as well as other alcoholic beverages such as Sanyechun and buckwheat wine. The company was founded in 1993 and is based in Haikou, China.
ST Yedao placed under investigation by the CSRC for suspected information disclosure violations
After market close on September 21, ST Yedao announced that it had received a Notice of Case Filing from the China Securities Regulatory Commission that day. Because the company is suspected of violating laws and regulations on information disclosure, the CSRC has decided to file a case against it. The company said all business activities are currently proceeding normally, and during the investigation it will actively cooperate and fulfil its information disclosure obligations. ST Yedao's shares have been subject to other risk warnings since May 6, 2025, because Zhong Shen Asia Pacific Certified Public Accountants issued an adverse opinion on the company's 2024 internal control audit report. For the company's 2025 internal control, Zhong Shen Asia Pacific issued an unqualified audit report with an emphasis-of-matter paragraph. The emphasis-of-matter paragraph relates to incomplete documents for the transfer of title to baijiu products sold in 2020 and 2021, and insufficient basis for recognising the related revenue, involving total revenue of 30.5025 million yuan. The company disclosed an accounting error correction and retrospective adjustment announcement on April 30, 2026. In terms of performance, in the first half of 2026 the company achieved operating revenue of 173 million yuan, up 94.00 percent year on year. Net profit attributable to shareholders of the listed company was negative 7.538 million yuan, compared with negative 15.765 million yuan in the same period last year, with the loss narrowing significantly.
600238.CG · Regulation · Negative CSRC filed a case against ST Yedao for suspected information disclosure violations, a regulatory/legal action against the company.
ST Yedao's 2026 Interim Report Shows Revenue Up 94%, Cash Flow Turns Negative
ST Yedao has released its 2026 interim report, showing a sharp rebound in revenue and a significant narrowing of losses, but operating cash flow has turned from positive to negative. During the reporting period, the company achieved operating revenue of 173 million yuan, up 94.00 percent year on year. Net profit attributable to the parent company was a loss of 7.54 million yuan, compared with a loss of 15.77 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 4.88 million yuan, also a narrower loss. Net cash flow from operating activities was a negative 22.72 million yuan, compared with a net inflow of 15.78 million yuan in the same period last year, mainly due to increased cash outflows for payments of goods, taxes and daily operating expenses. Selling expenses reached 26.35 million yuan, surging 421.38 percent year on year, mainly driven by a substantial increase in sales labour costs, e-commerce traffic acquisition spending and brand advertising. Investment income recorded a loss of 3.76 million yuan, mainly because the deregistration of an overseas subsidiary reclassified foreign currency financial statement translation differences as a current-period loss.
600238.CG · Capital · Neutral Revenue up 94% and losses narrowed, but operating cash flow turned negative and selling expenses surged, presenting mixed financial results.
ST Yedao's 2026 interim report shows net loss of 7.538 million yuan, narrowing year-on-year
ST Yedao released its 2026 interim report, with net profit attributable to the parent company at negative 7.538 million yuan, an increase of 8.227 million yuan compared with the same period last year, narrowing the loss year-on-year. The company's total operating revenue was 173 million yuan, up 94.00% year-on-year, and net cash outflow from operating activities was 22.7217 million yuan. The latest asset-liability ratio was 88.53%, gross margin was 36.45%, and ROE was negative 10.83%, up 7.14 percentage points from the same period last year. Diluted earnings per share was negative 0.02 yuan, total asset turnover was 0.19 times, and inventory turnover was 0.38 times, all significantly improved year-on-year.
ST Yedao Subsidiary Settles 9 Million Yuan Dispute with Liquor
ST Yedao's wholly-owned subsidiary Hengxin Company has reached a debt settlement with Tianfu Company, under which Hengxin will repay approximately 9 million yuan with liquor products and is expected to realize a gain of about 6 million yuan from the debt restructuring. The dispute originated from their 2023 trade cooperation in oil and fat commodities. After Hengxin failed to deliver goods upon receiving payment, Tianfu sued, and the court ordered Hengxin to return the payment plus compensation totaling around 9 million yuan. Tianfu had applied for compulsory enforcement. To properly resolve the dispute, the two parties negotiated a settlement at 9 million yuan. In the first quarter of 2026, ST Yedao achieved revenue of 99.63 million yuan and net profit attributable to the parent of 920,000 yuan.
ST Yedao Director and Deputy General Manager Li Tiefeng Temporarily Unable to Perform Duties Due to Health Reasons
ST Yedao announced that Li Tiefeng, a director, deputy general manager, and member of the board's nomination committee, is temporarily unable to perform his duties due to health reasons. The company will continue to monitor his recovery and disclose updates in a timely manner. Currently, the company's operations and management are normal, and all business activities remain unaffected.
Hainan Yedao Revokes Delisting Risk Warning, Stock Short Name Changed to ST Yedao
Hainan Yedao shares will resume trading on August 3 and the delisting risk warning will be revoked, but other risk warnings remain in effect. The stock short name will change from *ST Yedao to ST Yedao. The stock code remains 600238, and the daily price limit remains 10%. The company stated that the adjustment to the risk warning will not cause a material change in its operating conditions.
ST Yedao to suspend trading for one day on July 31, ticker to change to ST Yedao upon resumption
ST Yedao announced that its shares will be suspended from trading for one day on July 31, 2026, and will resume trading on August 3, 2026, with the delisting risk warning removed, while other risk warnings remain in place. The stock abbreviation will change from *ST Yedao to ST Yedao, and the daily price limit will remain at 10%. The company stated that after the removal of the delisting risk warning and the continued implementation of other risk warnings, its operating conditions will not undergo significant changes as a result.
600238.CG · Capital · Neutral Stock ticker change and removal of delisting risk warning, but other risk warnings remain and operating conditions unchanged.
*ST Yedao expects a loss of 7.3 million yuan in the first half of 2026
*ST Yedao disclosed its earnings forecast, expecting a net loss attributable to shareholders of 7.3 million yuan in the first half of 2026, compared with a loss of 15.765 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 4.7 million yuan, compared with a loss of 14.5587 million yuan a year earlier. The company said that operating revenue from the alcohol segment grew significantly year-on-year, and revenue from the beverage segment also increased. However, period expenses such as brand advertising, sales staff costs, and traffic investment on e-commerce platforms rose year-on-year, resulting in overall gross profit still insufficient to cover operating expenses, and the company remained in a loss-making state during the reporting period. Benefiting from the gradual release of economies of scale in the alcohol business, the scale of losses narrowed compared with the same period last year, and operational improvements are gradually emerging.
China