Palm Eco-Town Development Co.Ltd(002431) : performance forecast for 2021

Securities code: 002431 securities abbreviation: Palm Eco-Town Development Co.Ltd(002431) Announcement No.: 2022-013 Palm Eco-Town Development Co.Ltd(002431)

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

1. Performance forecast period: January 1, 2021 to December 31, 2021

2. Expected operating performance: 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: 500 million yuan – 70 million yuan

The net profit was 44.2411 million yuan, a decrease over the same period last year: 1230.15% – 1682.20%

Loss after deducting non recurring profit and loss: 390 million yuan – 580 million yuan

Net profit loss: 271.897 million yuan, down 43.44% – 113.32% over the same period last year

Basic earnings per share loss: 0.34 yuan / share – 0.47 yuan / share earnings: 0.03 yuan / share

Operating income (if applicable): 350 million yuan – 450 million yuan, 4821.1538 million yuan

Operating income after deduction: 350 million yuan – 450 million yuan 4812.0524 million yuan (if applicable)

2、 Communication with accounting firms

This performance forecast has not been pre audited by certified public accountants. The company has conducted pre communication with the annual audit accounting firm on the performance forecast. So far, there are no major differences between the two sides.

3、 Explanation of performance change reasons

1. During the reporting period, the company’s performance changes were mainly due to the impact of macroeconomic situation and covid-19 epidemic, which led to the slowdown of the progress of various engineering projects carried out by the company, and the overall scale of operating revenue decreased compared with the same period of last year; From 2020 to 2021, relying on the synergy of controlling shareholders, the company undertook more engineering businesses in Henan Province. However, due to the impact of sudden rainstorm disaster and covid-19 epidemic in Henan Province in 2021, the progress of converting newly signed orders into output value in Henan Province lagged behind the expectation; Based on the principle of prudence, the company conducted impairment test on assets according to relevant accounting standards, and accrued asset impairment loss and credit impairment loss; At the same time, because there was no relevant equity transfer in the reporting period, the recognition of investment income decreased compared with the same period of last year.

2. During the reporting period, as Meizhou land reserve center took back two pieces of land located in Sanjiao Town, Meijiang district, owned by the joint-stock company Meizhou time Culture Tourism Development Co., Ltd., it is preliminarily estimated that the impact on the net profit and non recurring profit and loss attributable to the shareholders of the listed company in the current period is about – 130 million yuan to – 100 million yuan. 4、 Other relevant instructions

The performance forecast is preliminarily estimated by the company’s financial department, and the specific financial data are subject to the data disclosed in the full text and summary of the 2021 annual report. Please make careful decisions and pay attention to investment risks. It is hereby announced.

Palm Eco-Town Development Co.Ltd(002431) board of directors

January 28, 2022

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