Oceanic Beverages to continue trading despite financial woes

Oceanic Beverages fights to stay afloat amid financial woes (TVBS News)
Oceanic Beverages fights to stay afloat amid financial woes (TVBS News)

TAIPEI (TVBS News) — The head of Oceanic Beverages Co., Inc. (大飲), the producer of Apple Sidra (蘋果西打), confirmed on Friday (June 14)that despite significant financial challenges, the company is not planning to delist.

Chairwoman Su Yun-le (蘇芸樂) noted that production resumed in June and products are being restocked. The company has reported losses totaling NT$440 million, surpassing half of its paid-in capital, with liabilities exceeding assets by NT$512 million.

An auditor's review of the first-quarter financial report raised concerns about the company's ability to continue as a going concern.

Oceanic Beverages is in the process of fully delivering shares and faces potential delisting by 2026 if conditions don't improve, per Taiwan Stock Exchange Corporation regulations.

Also, a shareholders' meeting intended to elect directors was adjourned due to only 0.49% participation.

Recent allegations of unpaid salaries were addressed by Su, who assured that the company has cleared all back wages. The brand gained attention when NVIDIA CEO Jensen Huang (黃仁勳) publicly offered Apple Sidra during a visit to Taiwan.

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