Securities code: 600166 securities abbreviation: Beiqi Foton Motor Co.Ltd(600166) No.: pro 2022-015 Beiqi Foton Motor Co.Ltd(600166)
Announcement of annual performance loss in 2021
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material errors in the contents of this announcement
Omission, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
1. The company's net profit attributable to shareholders of Listed Companies in 2021 is expected to be about -5.035 billion yuan.
2. The company's performance loss in advance is mainly due to the impairment impact of relevant matters of Beijing baowo Automobile Co., Ltd. (hereinafter referred to as "Beijing baowo") in the current period, including: the balance of equity transfer and interest of Beijing baowo is 1.671 billion yuan, the impairment of about 995 million yuan and the accumulated impairment of about 1.65 billion yuan in the reporting period; The borrowings and interests of Beijing baowo shareholders were 1.873 billion yuan, with an impairment of about 1.387 billion yuan in the reporting period and a cumulative impairment of about 1.813 billion yuan; Beijing baowo owed 1.485 billion yuan in current transactions, accrued impairment of about 1.014 billion yuan in the reporting period, and accrued impairment of about 1.342 billion yuan in total; The long-term equity investment was 534 million yuan, and the impairment was fully accrued in the reporting period; Baowo vehicle assets were recovered by 1.456 billion yuan, and the impairment was withdrawn by about 774 million yuan after considering the recoverable value; The total profit affected by the above impairment is expected to be about -4.704 billion yuan. In addition, the total profit of the listed company is expected to be about -5.326 billion yuan due to the impact of the company's ownership of Beijing baowo and the confirmation of investment income.
After deducting the above factors related to baowo, the total profit of the company in 2021 is about 355 million yuan; 3. The non recurring profit and loss in 2021 is expected to be about 517 million yuan. After deducting the non recurring profit and loss, the net profit attributable to the shareholders of the listed company is expected to be about -5.552 billion yuan.
4. The performance forecast of this period has not been audited by certified public accountants.
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, it is expected that the net profit attributable to the shareholders of the listed company in 2021 will be a loss compared with the same period of the previous year (legally disclosed data), and the net profit attributable to the shareholders of the listed company will be about -5.035 billion yuan.
2. The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is about -5.552 billion yuan.
(III) the performance forecast of this period 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: 155 million yuan.
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses: - 996 million yuan.
(II) earnings per share: 0.024 yuan.
3、 Main reasons for performance loss in advance in the current period
(I) main business impact
The performance loss in advance in the current period is mainly affected by the impairment of Beijing baowo related matters.
1. Balance of equity transfer of Beijing baowo
As of December 31, 2021, the company had not recovered the balance and interest receivable from Beijing baowo equity transfer of RMB 1.671 billion on schedule. During the period, the company actively communicated with the debtor and relevant guarantors to require them to repay and take property preservation and other measures, but both the debtor and relevant guarantors failed to provide effective repayment plan and property guarantee, there was significant uncertainty in the performance ability of relevant guarantors, and the recovery risk was huge. In order to safeguard the legitimate rights and interests of the company, the company has applied to the court for property preservation. Since October 2021, the court has successively frozen the relevant assets of relevant debtors and guarantors. At the same time, due to the principle of prudence, the company has reasonably accrued impairment reserves for the balance payment and interest receivable from Beijing baowo equity transfer. As of December 31, 2021, the balance and interest receivable from equity transfer of the company was 1.671 billion yuan, the company had accrued impairment of about 1.65 billion yuan (including about 995 million yuan in the reporting period), and the book value was about 21 million yuan.
2. As of December 31, 2021, the principal and interest of Beijing baowo loan receivable by the company totaled 1.873 billion yuan.
The company's current debt receivable from Beijing baowo is 1.485 billion yuan, including 895 million yuan due to the operation between the company and Beijing baowo. The company guarantees and compensates 404 million yuan for Beijing baowo, 180 million yuan of the remaining 310 million yuan (the overdue guarantee amount is 180 million yuan). The company confirms the estimated debt of about 186 million yuan according to the overdue situation.
Of the remaining guarantee balance of 310 million yuan, 124 million yuan (the overdue guarantee amount is 124 million yuan). The company invested abroad by Shenzhou Youche has pledged 19 million US dollars to the company. The company judges that there is no risk and does not recognize the estimated liabilities. (the total amount of the original pledge is US $20 million. At present, US $1 million has been repaid, about 6.358 million yuan, and the remaining pledge amount is US $19 million)
The company's long-term equity investment in Beijing baowo is 534 million yuan.
On January 27, 2022, the company received the resolution of the extraordinary general meeting of shareholders of Beijing baowo Automobile Co., Ltd., and at present, Beijing baowo has been unable to operate continuously. For details, please refer to China Securities Journal, Shanghai Securities News, securities daily and the website of Shanghai Stock Exchange (www.sse. Com. CN) on the same day Announcement on receiving the resolution of the extraordinary general meeting of shareholders of Beijing baowo Automobile Co., Ltd. (Announcement No.: Lin 2022-014) disclosed on the.
According to the judgment of the company, Beijing baowo no longer has the ability of sustainable operation, and there is significant uncertainty in transaction recovery. Based on the principle of prudence, the company has reasonably accrued impairment reserves for the above matters.
As of December 31, 2021, the company has borrowed 1.873 billion yuan from Beijing baowo, and the company has accrued impairment of about 1.813 billion yuan (including about 1.387 billion yuan in the reporting period), with a book value of about 60 million yuan. Beijing baowo owed 1.485 billion yuan to the company, and the company has withdrawn about 1.342 billion yuan of impairment (including about 1.014 billion yuan in the reporting period). The actual guarantee liability risk of the company to Beijing baowo is 124 million yuan, and there is no guarantee risk for the assessed collateral value. The company's equity investment is 534 million yuan, and the company has made full provision for impairment (including 534 million yuan in the reporting period). In total, the above related matters amounted to about RMB 4.016 billion, the company has accrued impairment of about RMB 3.689 billion (including about RMB 2.935 billion in the reporting period), and the book value is about RMB 327 million.
3. The company received the special assets of Beijing baowo for debt repayment
The company received 1.849 billion yuan of Beijing baowo vehicle assets by way of debt repayment. The company has amortized 393 million yuan and the remaining 1.456 billion yuan.
As Beijing baowo no longer has sustainable production capacity, the baowo assets originally planned to be handed over to Beijing baowo for use by leasing are at risk of impairment. Based on the principle of prudence, the company estimated the recoverable value of the 1.456 billion yuan of Beijing baowo's debt paying assets, and made an impairment provision of about 774 million yuan, with a book value of about 682 million yuan. (II) impact of non operating profit and loss
The impact of non recurring profit and loss events on the company's total profit in 2021 is about 525 million yuan (including about 275 million yuan from the land acquisition and storage of Lishui factory and about 164 million yuan from the government subsidies included in the current profit and loss), and the impact on the company's net profit in 2021 is about 517 million yuan. Compared with 2020, the impact of non operating profit and loss on net profit in this period decreased year-on-year, with an impact amount of about -633 million yuan, mainly due to the decrease in income from asset disposal and equity transfer and the decrease in income from government subsidies.
To sum up, the impact of Beijing baowo related matters on the company's total profit in 2021 is about - 5.326 billion yuan. After deducting the above factors related to baowo, the total profit of the company in 2021 is about 355 million yuan. 4、 Risk tips and other explanatory matters
The above 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.
Beiqi Foton Motor Co.Ltd(600166)
Board of directors
January 28, 2002
