Capital, Earnings & M&A
Keming Noodles Raises Another 400 Million, Wugudao Chang Losses and Insolvent
Keming Noodles, the 'first listed noodle company', released its 2018 annual report showing revenue of 2.86 billion yuan, up 26% year-on-year, and net profit attributable to shareholders of 190 million yuan, up 65%. However, the stock price fell sharply on the first trading day after the report. Sina Finance found that behind the seemingly bright results, there are major concerns regarding the implementation of private placement projects, the use of raised funds, and the performance of the acquired Wugudao Chang.
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