Stock Code: 601886 stock abbreviation: Jangho Group Co.Ltd(601886) Announcement No.: pro 2022-003 Jangho Group Co.Ltd(601886)
Annual performance forecast for 2021
The company and all members of the board of directors 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. Important content tips:
\uf020 the company expects to realize the net profit attributable to the shareholders of the listed company from -940340000 yuan to -1129340000 yuan in 2021.
\uf020 the company expects to realize the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses of about -1047750000 yuan to -1236750000 yuan in 2021. \uf020
\uf020 the main reason for this performance loss in advance is that the company’s holding subsidiary Gangyuan decoration expects to withdraw credit impairment losses from customers’ receivables in the current period, and the company expects to withdraw asset impairment losses from the goodwill formed by the acquisition of Gangyuan decoration. From the overall level of the company, the impairment loss accrued for customers has little impact on the fundamentals of the company. 1、 Performance forecast of the current period
(I) performance forecast period
From January 1, 2021 to December 31, 2021.
(II) performance forecast
1. According to the preliminary calculation of the financial department, the company expects to realize the net profit attributable to the shareholders of the listed company from -940340000 yuan to -1129340000 yuan in 2021.
2. The company expects that the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses will be about -1047.75 million yuan to -1236.75 million yuan in 2021.
3. This performance forecast has not been audited by certified public accountants.
2、 Performance in the same period of last year
(I) net profit attributable to shareholders of Listed Companies in 2020: 948357100 yuan; Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses: 556.9 million yuan.
(II) earnings per share: 0.84 yuan.
3、 Main reasons for performance loss in advance in the current period
1. Impairment of receivables
The main reason for the performance loss in advance in this period is that Gangyuan decoration, the holding subsidiary of the company, undertook some decoration projects of relevant subsidiaries and their affiliates of Evergrande Real Estate Group Co., Ltd. (hereinafter referred to as “Evergrande group” or “the customer”), and the company was unable to recover the due receivables of the customer on time, which was evaluated by the management of the company, It is believed that there are obvious signs of impairment of its receivables. Based on the principle of prudence, the company further accrued credit impairment losses for the customer’s receivables, notes receivable and contract assets in accordance with the accounting policies. The company expects to accrue about 1.68 billion yuan of credit impairment losses for the customer in the current period (including 1.66 billion yuan of Gangyuan decoration). By the end of 2021, the company had accrued about 1.89 billion yuan of credit impairment losses for the customer, the net exposure receivable was about 780 million yuan (including 76 million yuan of materials supplied by Party A), and the assets such as account offsets being handled were about 504 million yuan.
2. Impairment of goodwill
By the end of 2021, the net book value of goodwill recognized by the company for purchasing Gangyuan decoration was 394 million yuan. As Gangyuan decoration was affected by the impairment of receivables from the customer, the management of the company considered that there were obvious signs of impairment of this part of goodwill, and it was estimated that the corresponding impairment loss of goodwill was about 394 million yuan.
3. Impact on the company’s main business
The company’s main business is architectural decoration business, which includes River curtain wall, Chengda group, Gangyuan decoration and other curtain wall and interior decoration units. The business carried out by the company with the customer is mainly concentrated in Gangyuan decoration of interior decoration units. Gangyuan decoration undertakes a large proportion of non customer business and maintains a steady growth. With the support of the company, Gangyuan decoration can effectively deal with the business risks brought by the customer. From the overall level of the company, the impairment loss accrued for the customer has little impact on the fundamentals of the company, and the overall operating risk of the company is controllable.
4、 Risk tips
This performance forecast is a prudent judgment made by the company based on the current business situation of the customer. If the debt repayment situation of the customer changes before the disclosure of the company’s 2021 annual report, the accuracy of the company’s performance forecast will be affected. The company has communicated with the annual audit accountant on this matter. Please pay attention to the investment risk.
5、 Other explanatory matters
The above performance forecast data are only preliminary accounting data. The specific and accurate financial data are subject to the audited annual report of 2021 officially disclosed by the company. Please pay attention to the investment risks.
It is hereby announced.
Jangho Group Co.Ltd(601886) board of directors January 28, 2022
