Securities code: 600466 securities abbreviation: Sichuan Languang Development Co.Ltd(600466) Announcement No.: Lin 2022-007 bond Code: 136700 (16 Blu ray 01) bond Code: 162696 (19 Blu ray 08) bond Code: 163788 (20 Blu ray 04) bond Code: 155484 (19 Blu ray 02) bond Code: 155163 (19 Blu ray 01) Bond Code: 162505 (19 Blu ray 07) bond Code: 155592 (19 Blu ray 04) bond Code: 163275 (20 Blu ray 02) Sichuan Languang Development Co.Ltd(600466)
Announcement on receiving the inquiry letter from Shanghai Stock Exchange on matters related to the company’s performance forecast
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
The company received the inquiry letter on matters related to Sichuan Languang Development Co.Ltd(600466) performance forecast from Shanghai Stock Exchange on January 28, 2022. The full text of the letter is disclosed as follows:
“On January 28, 2022, your company disclosed the announcement of performance loss in advance, which said that the net profit attributable to the parent company in 2021 is expected to be about -12.037 billion yuan, and the net profit attributable to the parent company after deducting non profits is about -11.273 billion yuan, which is turned from profit to loss year-on-year, and the amount of loss is significantly larger than that in the third quarter. The performance loss in advance is mainly due to three reasons: asset impairment provision, operating loss and asset disposal. According to the stock listing rules of the exchange Article 13.1.1 and other relevant provisions, your company is hereby requested to verify and disclose the following matters.
1、 According to the third quarterly report of the company in 2021, the net profit loss attributable to the parent company in the first three quarters was 6.705 billion yuan, which was quite different from the estimated net profit loss attributable to the parent company in 2021. Please explain the specific reasons and rationality of the company’s significant loss in the fourth quarter of 2021 in combination with the project carry forward and other operating conditions of the real estate business, and whether there is profit adjustment such as the cost should be carried forward but not carried forward in the first three quarters. 2、 According to the announcement, during the reporting period, the company accrued impairment loss of about 6.909 billion yuan, mainly for inventory falling price reserves, while the company’s asset impairment loss was only 166 million yuan in 2020. The company is requested to: (1) supplement and list the specific amount of the provision for impairment of each item in the inventory, and explain the reason and rationality of the provision for large impairment in the current period in combination with the location distribution, development, sales progress, market supply and demand and other factors of the project; (2) Supplement and disclose the methods and processes of the above asset impairment test, and explain whether the accrued amount is accurate and appropriate, and whether it complies with the provisions of the accounting standards for business enterprises; (3) Combined with the provision for inventory impairment in recent three years, explain whether the relevant policies for the provision for inventory impairment in this period are consistent with those in the previous period, and whether the provision in the previous period is not timely and sufficient.
3、 According to the announcement, the company’s main business loss during the reporting period was about 4.394 billion yuan, mainly due to the decline of real estate business income caused by the reduction of project delivery, the decline of gross profit or even loss caused by price reduction sales, and the reduction of capitalization of interest expenses. The company is requested to: (1) disclose the specific reasons and rationality of the decline in real estate business income in combination with the regional layout of real estate business, the construction, sales and delivery of various projects, and the situation of comparable companies in the same industry; (2) In combination with factors such as land acquisition cost, construction and installation cost, real estate sales price and the situation of comparable companies in the same industry, explain the reasons and rationality of the sharp decline of the company’s gross profit margin, and whether there is a trend or risk of further decline; (3) Supplement the changes in the capitalization rate of financial expenses of the company in recent three years and its impact on financial expenses; (4) In combination with the debt repayment, please supplement and disclose the debt resolution progress made by the company so far, and what measures the company plans to take in the future to improve liquidity and profitability. 4、 The announcement shows that during the reporting period, the company disposed of its subordinate property management companies and some real estate projects, resulting in non recurring profits and losses of about -733 million yuan. The company is requested to list the difference between the transaction price and book cost of the disposed assets, and explain whether the impairment provision of relevant assets in the previous period is sufficient.
Please disclose the information immediately after receiving this inquiry letter, reply to our department in writing as soon as possible, and fulfill the corresponding information disclosure obligations. “
It is hereby announced.
Sichuan Languang Development Co.Ltd(600466)
Board of directors
January 29, 2022
