Rumours of Dynasty Fine Wines’ delisting swirl

China’s Dynasty Fine Wines may face being delisted from Hong Kong Exchanges and Clearing Ltd (HKEx) if it fails to raise money to finance its daily operations, as concerns rise over its prolonged trading suspensions since 2013.

Photo credit: Dynasty Fine Wines

Last week reports that China’s once-leading merchant Dynasty Fine Wines was selling off its vast Bordeaux stocks surfaced after distributors tipped-off news outlets that the company was off-loading grand cru classé Bordeaux wines that are “cheaper-than-smuggled wines”.

When contacted by Beijing Business Daily, the Hong Kong listed company dismissed the reports as “untrue” and refused to comment, but when reporters called in as distributors to ask about the grand cru classé Bordeaux wines, a regional sales director from the company admitted that they are selling stocks of Bordeaux wines, and prices are in the mid-range.

The wines sold include Château Beychevelle, Château d’Yquem, Château Angelus, Château Margaux, Château Ducru-Beaucaillou, Château Talbot and Château Lascombes.

At the height of Dynasty’s development, Dynasty, together with Changyu and Great Wall wines, took up 56.2% of China’s wine market in 2004.

The company was listed in Hong Kong in 2005 and its trading was suspended in 2013 amid allegations of faking invoices and selling expired wines.