雏鹰农牧:投资扩张需要受到约束
案例编号：
CN_2022KJYGSCW_9466
被浏览次数：
3609
案例名称：
雏鹰农牧:投资扩张需要受到约束
译名：
Chuying Argo-Pastoral Group: Investment and Expansion Needs to Be Controlled
案例作者：
宋建波 杨东赫
作者单位：
中国人民大学商学院
译者：
-
案例企业：
雏鹰农牧集团股份有限公司
行业：
其他
学科领域：
会计与公司财务、其他
规模：
大型
案例语种：
中文
案例类型：
描述型
中文关键词：
内部控制重点案例5-1，雏鹰农牧；对外投资；内部控制缺陷
英文关键词：
Chuying Argo-Pastoral Group; Outbound Investment; Internal Control Weakness
中文摘要：
2019 年 1 月，雏鹰农牧被爆资金链断裂，生猪大批饿死，同年 5 月被证监会立案调查， 8 月被深交所以退市处理。四年的时间里，雏鹰农牧从市值近三百亿到被退市。究其原因，这与雏鹰农牧混乱的内控制度和盲目的投资项目逃不了干系。本案例详细梳理了雏鹰农牧从上市到扩张再到退市的过程，深入剖析了雏鹰农牧经营失败的原因及其掩盖手段，为上市公司特别是畜牧业企业的健康发展提供了生动的反面教材和经验教训。此外，本案例对于监管机构和投资者也具有启示意义。如何及时发现经营业绩糟糕？如何识别内部控制缺陷？上述问题在本案例中同样能够找到回答。
英文摘要：
In January 2019, the capital chain of Chuying Argo-Pastoral Group ruptured, and a large number of livestock starved to death. In May of the same year, the company was investigated by the China Securities Regulatory Commission (CRSC). It was then delisted by the Shenzhen Stock Exchange in August. In only four years, Chuying Argo-Pastoral Group fell from the peak with the market value of nearly 30 billion yuan to being delisted. The inefficient internal control system and massively uninvestigated investment projects of Chuying Argo-Pastoral Group are the keys to the failure. This case study details the process how Chuying Argo-Pastoral Group got listed, expanded and delisted, analyzes the reasons for the failure of the company and its cover-up method in-depth, and provides the most vivid insights and lessons for the healthy development of listed companies, especially for animal husbandry enterprises. In addition, this case study also has implications for regulators and investors. How to evaluate operating performance? How to detect internal control weakness? The questions above can also be answered in this case.
适用对象：
本科、专业硕士
编写方式：
采编
开发时间：
2021
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