Asian Bamboo

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Asian Bamboo AG

logo
legal form Corporation
ISIN DE000A0M6M79
founding 1992
resolution 2015
Reason for dissolution insolvency
Seat Hamburg , GermanyGermanyGermany 
management Christoph Morgen,
insolvency administrator
Number of employees 812 (2013)
sales 31.4 million euros (2013)
Branch Wood industry / wood processing
real estate
Website www.asian-bamboo.de

The Asian Bamboo AG was listed bamboo growers and processors. The company was based in Hamburg and the operational business was controlled from Fuzhou, China . The company has been insolvent since 2015.

Finances

Asian Bamboo has been listed in the Prime Standard of Deutsche Börse since November 16, 2007 . The company is part of a series of IPOs by Chinese companies in Frankfurt that disappointed investors' expectations and in many cases turned out to be dubious. The press reported problems with Asian Bamboo; the ARD spoke of the "biggest deadlock" among the Frankfurt China stocks.

Asian Bamboo initially reported very promising figures - the reported sales revenues and profits multiplied in the period 2007 to 2011, albeit with a consistently negative cash flow , caused by ongoing investments in high lease payments for the cultivated areas. It then turned out that for these payments and for further payment obligations as well as for the existing plantations there was no corresponding economic benefit, so that considerable depreciation and additional expenses arose. This led to a loss of around € 200 million in the 2013 financial year - a multiple of the profits the company had reported since going public.

The Board of Management reacted to this by announcing that it would be more active in the real estate business. The auditor commented on this as follows:

“Due to the vagueness of the information in the group management report on the intended real estate transactions, we were unable to assess the presentation of the opportunities and risks from the planned commencement of real estate transactions in the group management report. It cannot therefore be ruled out that the group management report is incorrect in this respect. "

- Deloitte & Touche GmbH

The annual financial statements of the previous years had been audited and unreservedly confirmed by Deloitte & Touche (2010–2012) and BDO Deutsche Warentreuhand (2007–2009).

At the end of February 2015, the insolvent company's creditors filed for bankruptcy; on May 28, 2015, Asian Bamboo announced that it would also file for bankruptcy at the Hamburg District Court , which happened on June 15, 2015. The company's listing was revoked in September 2019.

Business activity

On 48,123 hectares of leased agricultural land on 36 plantations in China (as of 2015), Asian Bamboo grows bamboo shoots and bamboo trunks according to ecological criteria . There are also three plants for raw processing and a factory for fine processing of bamboo shoots. The company employs around 300 people in total. The main market for the bamboo shoots made in China is Japan. In 2006, Asian Bamboo produced around five percent of all organically grown bamboo shoots exported from the People's Republic of China. The bamboo trunks are mainly sold in the Chinese domestic market.

swell

  1. ↑ a b c d Asian Bamboo - Annual Report 2013
  2. ↑ "The Great China Bluff" , handelsblatt.com, August 23, 2012, accessed on May 12, 2014.
  3. ↑ Rohrkrepierer instead of China-Kracher , boerse.ard.de, July 17, 2013, accessed on May 12, 2014.
  4. ↑ Asian Bamboo is being cut down ( Memento from May 12, 2014 in the Internet Archive ), boerse.ard.de, May 2, 2014, accessed on May 12, 2014.
  5. ↑ http://www.brinkmann-partner.de/Insolvenzfragesverfahren-ueber-das-Vermoegen-des-boersennotierten-Bambusherstellers-Asian-Bamboo-AG/778.news.htm
  6. ↑ Archived copy ( memento of the original from July 22, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / boerse.ard.de
  7. ↑ http://www.asian-bamboo.com/de/news/ad-hoc-meldung/mommunikations-einzelansicht/?tx_ttnews%5BbackPid%5D=72&tx_ttnews%5Btt_news%5D=219&cHash=75db1b327c928a4187f7483f5645772e
  8. ↑ http://www.asian-bamboo.com/de/news/ad-hoc-meldung/mommunikations-einzelansicht/?tx_ttnews%5BbackPid%5D=72&tx_ttnews%5Btt_news%5D=221&cHash=7fc35e11917cd53d06ce9092636ffc6c
  9. ↑ Asian Bamboo AG: Revocation of approval (General Standard). In: www.finanznachrichten.de. September 23, 2019, accessed February 5, 2020 .
  10. ↑ Overview of the business areas on www.asian-bamboo.de ( Memento from November 5, 2007 in the Internet Archive )

Coordinates: 53 ° 33 ′ 0.8 ″  N , 9 ° 59 ′ 8.1 ″  E