On the evening of April 30, 2026, Wuliangye Yibin Co.,Ltd. (referred to as Wuliangye, stock code: 000858) released an "Announcement on Correction of Prior Period Accounting Errors."
The announcement indicates that Wuliangye reviewed its 2025 business models and, based on the principle of prudence, adjusted the accounting for revenue recognition related to certain business activities in 2025. This correction of prior period accounting errors pertains to specific items in the consolidated balance sheets and consolidated income statements for the first quarter, first half, and first three quarters of 2025, as previously disclosed. It does not affect the presentation of the cash flow statement. Specifically, revenue for the first three quarters of 2025 was revised downward from approximately 60.945 billion yuan to 30.638 billion yuan, a decrease of about 50%. Net profit attributable to shareholders of the parent company for the same period was revised downward from approximately 21.511 billion yuan to 6.475 billion yuan, a decrease of about 70%.
According to judicial interpretations by the Supreme People's Court regarding false statements, if a listed company's false securities disclosure causes losses to investors' rights and interests, the investors may file lawsuits to claim compensation. The scope of compensation includes investment balance losses, commission losses, and stamp duty losses.
It is noteworthy that, according to multiple media reports, on May 28, 2011, Wuliangye received a "Decision on Administrative Penalty" from the China Securities Regulatory Commission due to violations in information disclosure. Subsequently, investors filed lawsuits against Wuliangye claiming compensation for securities false statements. In October 2014, through court mediation, Wuliangye made a one-time payment of 13.44 million yuan to 141 plaintiffs. Legal representation for affected investors is ongoing.
Legal counsel has indicated that based on the accounting error corrections, Wuliangye is suspected of engaging in false securities disclosure, and affected investors may seek compensation in accordance with the law. Preliminary eligibility for compensation is tentatively set for investors who purchased Wuliangye shares between April 28, 2025, and April 30, 2026, and held the shares at the market close on April 30, 2026. The final eligibility criteria are subject to court determination.
Investors seeking compensation are required to provide documentation including securities account information inquiry statements, stock transaction statements (from April 1, 2025, to the present), and contact details.
Comments