On January 28, Tahoe Group Co.Ltd(000732) disclosed the performance forecast for 2021. It is estimated that the net profit attributable to shareholders in 2021 will be 101-131 million yuan. It is reported that the company had a net loss of 4.999 billion yuan in the same period of 2020.
For the main reasons for the change of performance in 2021, Tahoe Group Co.Ltd(000732) explained in the announcement that first, the identifiable sales revenue of the company’s real estate projects during the reporting period increased significantly compared with the same period of last year; Second, the company strictly controlled all kinds of expenses and fixed costs, achieved some results in saving expenses, and the expenses decreased significantly during the period; Third, some cooperation projects are profitable, and the company has confirmed the corresponding investment income; Fourth, the company made more provision for inventory impairment in the same period of last year.
In addition, Tahoe Group Co.Ltd(000732) also said in the announcement that the amount of the company’s non recurring profit and loss in 2021 is mainly the income from the change of the fair value of investment real estate and the net impact after the loss is accrued for the legal litigation cases in the implementation stage.
