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Jiugui Liquor shares hit 3-year low after firm robbed of 100m yuan
Online Edition
SHARES of Jiugui Liquor Co Ltd slumped to the lowest level in more than three years after the spirits maker said 100 million yuan (US$16.4 million) was stolen from a bank account of its subsidiary.
Jiugui dropped 4.4 percent to 11.91 yuan today, the lowest closing since July 2012.
A marketing arm of the Hunan-based spirits maker opened a savings account at the Agriculture Bank of China in Hangzhou on November 29 and a total of 100 million yuan was deposited into the account, Jiugui Liquor said in a statement dated today to the Shenzhen Stock Exchange.
A suspect withdrew cash on three occasions between December 11 and 13, leaving only 1,176 yuan in the account, Jiugui said, without naming the suspect.
Police are looking into the case, the company said, adding it will disclose any progress in investigation.
Jiugui warned that the incident may cause “big losses” for the company.
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