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Cheers Wines

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2024

    Sale of Whisky Assets to Controlling Shareholder Questioned as 'Left Hand to Right Hand' Deal

    In 2024, Yiyuan Wine sold whisky and other spirits assets to then-controlling shareholder Chen Fang, involving a related-party transaction and asset impairment. The industry questioned it as 'left hand to right hand' and a transfer of benefits to the major shareholder. Chen Fang said it was to reduce the listed company's burden; the company also took some winery assets private to survive. No regulatory penalty was seen.

    Source