Securities code: 002024 securities abbreviation: Suning.Com Co.Ltd(002024) Announcement No.: 2022-002
2021 annual performance forecast
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Expected performance of the current period
(I) performance forecast period
January 1 to December 31, 2021.
(II) performance forecast
1. √ the estimated net profit is negative.
The current reporting period of the project is the same period of last year
Loss attributable to shareholders of listed companies: 42.3 million yuan - net profit of 4274.696 million yuan: 43.3 million yuan
Loss attributable to shareholders of listed companies: 4.39 million yuan——
After deducting non recurring profits and losses, the loss of 4490 million yuan: the net profit of 6806.848 million yuan
Loss of basic earnings per share: 4.54 yuan / share - loss: 0.46 yuan / share
4.65 yuan / share
2、 Communication with accounting firms
The relevant data of this performance forecast is the preliminary calculation result of the company's financial department and has not been audited by an accounting firm. The company has made pre communication with the annual report audit accounting firm on matters related to the performance forecast, and there is no difference between the company and the accounting firm on the performance forecast in the reporting period.
3、 Explanation of performance change reasons
1. In combination with the changes in the external environment and the company's own operation, the company, based on the principle of prudence, accrues impairment provisions for relevant assets and recognizes investment losses, and is expected to reduce the company's net profit attributable to shareholders of listed companies by 25.475 billion yuan in 2021 (of which 443 million yuan has been reflected in the first three quarters. For details, see the company's Announcement No. 2022-001).
2. Since June 2021, due to the continuous lack of liquidity, the company has a serious shortage of commodity inventory, and the sales and procurement scale have decreased significantly at the same time, resulting in the increase of procurement cost and the corresponding sharp decline of operating profit; At the same time, for the deductible losses that can be carried forward to the following years, the company recognizes the deferred income tax assets to the extent that it is likely to obtain the taxable income used to offset the deductible losses in the future. In combination with the changes of the external environment and the company's own operation, the business operation strategies of some subsidiaries have been adjusted, As a result, the amount of taxable income that is likely to be obtained to offset deductible losses in the future will decrease, and the deferred income tax assets will be reversed accordingly. The foregoing events are expected to reduce the company's net profit attributable to shareholders of listed companies to RMB 8.5 billion-9 billion in 2021.
The above 1 and 2 reduce the company's net profit attributable to shareholders of listed companies by 33.975 billion yuan to 34.475 billion yuan in 2021. A series of impairment events of the company in 2021 will not affect the current cash flow level of the company, nor the current daily operation and the development of various business cooperation. The company will continue to recover funds through various paths and methods to minimize the loss to the company as much as possible.
3. If the above impairment provision, investment loss, deferred income tax reversal and other factors are not considered, the company expects the net profit loss attributable to the shareholders of the listed company to be 1.2-1.7 billion yuan in the fourth quarter, and the net profit loss attributable to the shareholders of the listed company is expected to be 8.768-9.268 billion yuan in 2021.
To sum up, the company expects to realize a net profit loss of 42.3 billion yuan to 43.3 billion yuan attributable to shareholders of Listed Companies in 2021.
4. During the reporting period, the impact of the company's non operating profit and loss items was about 1.6 billion yuan, mainly including the impact of Zhuhai Puyi logistics industry investment partnership (limited partnership) on the acquisition of the company's logistics assets company and the second bond discount repurchase of 18 Suning bonds.
After deducting the impact of this non operating profit and loss item, the company estimates that the net profit loss attributable to shareholders of listed companies after deducting non recurring profit and loss will be 43.9 billion yuan to 44.9 billion yuan in 2021.
5. In early July 2021, with the support of Jiangsu provincial and Nanjing municipal governments, the enterprise introduced new strategic investors. Under the leadership of the new board of directors, the enterprise actively resumed production and operation. The enterprise implemented the three strategies of "doing a good job in retail service providers, strengthening the supply chain and improving business quality", and promoted the work of increasing income, reducing cost and improving efficiency. In March 2021 The operating performance improved month on month in the fourth quarter, and the enterprise gradually resumed operation.
In late August 2021, with the stability of bank enterprise cooperation and Bank Of Jiangsu Co.Ltd(600919) , Bank Of Nanjing Co.Ltd(601009) and other incremental credit, with the support of major brands, liquidity gradually recovered and sales revenue gradually increased. From September to November, the average monthly sales increased month on month, and the sales stabilized. The scale of commodity sales revenue in the fourth quarter is expected to increase by 25.48% month on month compared with the third quarter. At the same time, the company strictly refined management, strictly controlled various expenses, streamlined organization and improved human efficiency. The total expenses of the company in the fourth quarter continued to decrease by 13.6% month on month compared with the third quarter. Without considering the impact of a series of impairment and other matters, the net profit attributable to shareholders of listed companies is expected to decrease by 59% - 71% in the fourth quarter compared with the third quarter. 2021 is the beginning of the transformation of Suning.Com Co.Ltd(002024) retail service providers, facing great difficulties, but the team is still seeking a breakthrough in the dilemma, continuously improving the channels and sinking the market, so as to accumulate strength for the recovery of enterprise sales and sustainable growth. In 2021, the retail cloud business continued to maintain a rapid development. During the reporting period, 2678 new franchise stores were opened, home furnishings and fast track repair were expanded, and 9178 Suning.Com Co.Ltd(002024) retail cloud franchise stores had been opened by the end of the reporting period.
With the support of all parties and the unremitting efforts of all employees of the company, the operation of the company has gradually improved. In order to more intuitively evaluate the recovery of the company's operating cash flow, without considering the influence of factors 1 related to non operating cash flow, according to the statistics of the company's financial department, the company's monthly EBITDA in November was 20 RMB 800 million, which has become positive, and it continued to be positive in December.
6. In 2022, with the support of provincial and municipal governments and under the leadership of the new board of directors, the company will implement the three strategies of "being a good retail service provider, strengthening the supply chain and optimizing the operation quality". The enterprise will continue to promote revenue growth, reduce costs and improve efficiency and revitalize assets. At the level of revenue growth, focus on the core business of 3C home appliances, give full play to the company's Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integration ability in scene experience, strengthen the supply chain integration ability in customizing goods for special supply, and highlight the service performance ability in overall solutions; The channel side will further tap the sinking market potential and continue to accelerate the development and efficiency improvement of retail cloud business.
In terms of cost reduction and efficiency improvement, the company will vigorously promote the decline of store rent level and the improvement of store floor efficiency through store model optimization in combination with the current market situation; Through the construction of incentive system and internal empowerment system, further improve the organizational efficiency and team output efficiency, and reduce the level of various expenses; Through more effective cross empowerment cooperation, further improve the accuracy and input-output level in user acquisition and marketing. At the level of asset revitalization, the company systematically established various special work organizations to continuously promote the fund operation of commercial property and logistics assets, strengthen the withdrawal and collection of foreign investment equity, accelerate the recovery of the company's cash flow, and promote the recovery of zero supply relationship and the improvement of income scale and operating performance.
In 2021, after completing the phased goal of monthly EBITDA confirmation in November, combined with the above measures, without considering the influence of factors related to non operating cash flow, the company expects EBITDA confirmation in the first quarter of 2022.
4、 Risk tips
1. The company has hired a professional evaluation institution to evaluate the relevant assets with signs of impairment. Up to now, the evaluation has not been completed. The above estimated provision for impairment and investment losses have not been audited by an accounting firm.
2. The data of this performance forecast is the data preliminarily calculated by the company's financial department. The specific financial data is based on 1. Non operating cash flow factors mainly include asset impairment losses and changes in fair value, the same below. 2. The monthly EBITDA is based on the profit before interest, tax, depreciation and amortization, excluding the influence of non operating cash flow factors, the same below.
The 2021 annual report disclosed by the company shall prevail. Please make careful decisions and pay attention to investment risks. It is hereby announced.
Suning.Com Co.Ltd(002024) board of directors January 29, 2022
