安溪铁观音集团安溪鐵觀音集團
Anxi Tieguanyin Group
Successor of the 1952 state Anxi Tea Factory, maker of Fengshan-brand Tieguanyin; reorganised in bankruptcy in 2016-2017.
- Kind
- company
- Based in
- Anxi County
- Founded
- 1952
- Brands
- 凤山 (Fengshan) Tieguanyin
History#
- 1952State Anxi Tea Factory founded.
- 2012IPO pre-disclosure published in June.
- 2016Reorganisation petitions in January; plans approved and proceedings ended on 3 November.
- 2017Investor's funds paid in by 31 August; plans fully carried out by 31 October.
- 2018Named one of the Supreme People's Court's ten typical bankruptcy cases (6 March).
Also sold or written as 5#
Chinese variants
- 福建安溪铁观音集团股份有限公司Fujian Anxi Tieguanyin — joint-stock group companyLegal name of the group company named in the 2018 Supreme People's Court case.
- 安溪茶厂 / 福建省安溪茶厂有限公司 / Anxi Tea FactoryThe 1952 state factory, now the group's wholly owned subsidiary.
- 安铁集团Antie — groupShort form in Chinese business media.
- 凤山Fengshan
Translations and trade names
- Fengshan
Names and ambiguities#
Reorganisation timing
'Anxi Tieguanyin' the brand vs. the company
安溪铁观音 is also a geographical indication whose trademark belongs to a county body, not to this company. 'Anxi Tieguanyin Group' on a package does not mean the GI holder.
Notes#
The Supreme People's Court describes the Anxi Tea Factory, founded in 1952, as one of the three oldest state tea factories in China. Its Fengshan (凤山) Tieguanyin was, per 21st Century Business Herald, sold in over 60 countries and regions. The factory later became a wholly owned subsidiary of the Fujian Anxi Tieguanyin Group Co., Ltd. The group published an IPO pre-disclosure in June 2012 and dropped the plan in 2013; with a slack tea market, high branding spending and broken guarantee chains, both companies ran out of cash. Creditors petitioned for reorganisation in January 2016, and the Quanzhou Intermediate Court took both cases.
Confirmed claims were about 478 million yuan against the group (41 creditors) and 332 million against the factory (137 creditors, including 83 tea farmers). The plan, approved and ended on 3 November 2016, brought in an investor (the Hejun group's 北京和君三度投资管理有限公司) with 76.2% of the group; it was fully carried out by 31 October 2017. The court listed it among its ten typical bankruptcy cases of 2018.