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Company News >> Black cattle food business registration completed officially renamed
Black Bull Food announced on the evening of June 18 that it had completed the relevant industrial and commercial change registration procedures and obtained the “Business License” renewed by the Shantou Administration for Industry and Commerce. The company's Chinese name was changed from Black Bull Foods Co., Ltd. to Visionox Technology Co., Ltd.; English name by BLACKCOWFOODCO. ,LTD. Changed to Visionox Technology Inc. The Chinese securities abbreviation was changed from Black Bull Foods to Visionox; the English securities abbreviation was changed from BLACKCOWFOOD to Visionox; the stock code was unchanged.
China National Grid learned that the former soybean milk magnate Black Bull has gone through four business transformations over the past seven years. The first three transformations even included a cocktail business, but its performance has never been improved. After the “Happiness Department” entered the main black cattle food, the fourth business transformation began to “go to food” and aimed at the photovoltaic panel business.
On July 22, 2016, Black Bull Food announced that it plans to hold 100% equity of Black Bull Industrial, 100% equity of Jieyang Black Bull, 100% equity of Anhui Black Bull, 100% equity of Guangzhou Black Bull, and Black Bull Marketing 100 % equity is sold externally. In January 2017, the above transaction was completed and all the food and beverage assets of Black Bull Food were placed.
In May 2017, Black Bull Foods announced the revised "Private Stock Offering Plan", and planned to raise funds from Kunshan Guochuang and Tibet Zhihe to no more than 10 investors to raise funds to 15 billion yuan to enter the OLED industry.
On Aug. 15, 2017, the above non-public issuance of shares of Black Bull Foods was approved by the China Securities Regulatory Commission and officially approved by the China Securities Regulatory Commission on November 6. After this fixed-income program was approved, Guoxian Optoelectronics and its subsidiary Viscano became an indirect holding subsidiary of Black Bull Food.
Black Niu Food explained that the sale of major assets in the second half of 2016 will divorce the original food and beverage business, and raise funds through non-public issuance of shares to enter the OLED field. Given major changes in the main business in 2017, the company’s strategic development plan Business development needs, in order to make the company name better match the actual situation of the company's existing main business, easy for investors to understand, establish a new corporate image of the company, the company decided to change the company name and securities abbreviation, and simultaneously revised the "Articles of Association."
It is understood that in 2017, Black Bull Food has no longer carried out production and sales activities in the food and beverage industry, and there is no revenue from food and beverage manufacturing projects. In 2017, Black Bull Food AMOLED and related businesses realized an audited operating income of approximately 28.14 million yuan, accounting for 88.69% of their 2017 audited operating revenues. Combined with the realization of its operating income, this change of name matches the company's main business.
In addition, China National Grid noted that after the original food and beverage business was dismantled, the new business did not contribute profit, and the investment was relatively large, resulting in a huge loss in the first quarter of the year. According to the first quarterly report of 2018 released by Black Bull Foods, the operating income during the reporting period was RMB 10.8741 million, an increase of 110.36% year-on-year; and the net profit attributable to the shareholders of listed companies was RMB -192 million, a year-on-year decrease of 540. 38%.
Black Bull Food is expected to have a net loss of 650 million to 770 million yuan in the first six months of 2018. The change in performance was due to the completion of the merger of Kunshan Guoxian Optoelectronics Co., Ltd. in March 2018. It is expected that the operating income of the company's 2018 semi-annual financial report will be greatly improved. However, due to the relocation of Kunshan Guoxian Optoelectronics Phase II equipment in 2017, Currently, it is still in a period of rampant production capacity. It is expected that the profit of the main business in the second quarter will still be a loss. At the same time, Yungu (Guian) Technology Co., Ltd. and Bazhou City Yungu Electronic Technology Co., Ltd. are still in the construction phase in the second quarter. Limited contribution, the above factors led to a larger loss in performance from January to June 2018.
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