Securities code: 002485 securities abbreviation: Cedar Development Co.Ltd(002485) Announcement No.: 2022-013 Cedar Development Co.Ltd(002485)
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. Performance forecast:
The expected net profit is negative
The current reporting period of the project is the same period of last year
Net profit loss attributable to shareholders of listed companies: 454 million yuan – 678 million yuan loss: 1990.95 million yuan
Net profit loss after deducting non recurring profit and loss: 34 million yuan – 50 million yuan loss: 84.9129 million yuan
Loss of basic earnings per share: 0.8346 yuan / share -1.2463 yuan / share loss: 0.0366 yuan / share
2、 Communication with accounting firms
Major matters related to the company’s employment performance forecast have been pre communicated with the accounting firm. The audit of 2021 is in progress, and the company’s performance forecast has not been pre audited by the accounting firm.
3、 Explanation of performance change reasons
(I) impact of main business
During the reporting period, while actively restoring the cultural tourism business, the company continued to develop the clothing business steadily and rapidly developed supply chain management and comprehensive services. Affected by the repeated epidemic in many places in China, especially in East China and Yunnan, the company’s cultural tourism business did not meet expectations.
(II) impact of changes in fair value and provision for asset impairment
In recent years, China’s economic restructuring, transformation and upgrading have entered a critical period. Coupled with the impact of the epidemic on the national economy since 2020, the offline consumer market bears the brunt, and the commercial real estate market is facing difficulties. Affected by the above reasons, the rent level, rental rate and transaction price of shops in China’s third and fourth tier cities decreased significantly in 2021. The epidemic situation has been repeated in many places throughout the country, and the prevention and control measures of cultural tourism have occurred frequently, which has a great impact on the cultural tourism industry, and the value of relevant cultural tourism assets has been affected.
In combination with industry changes, market changes and the actual situation of the company, based on the principle of objectivity and prudence, and according to the preliminary evaluation data, the profit and loss from changes in the fair value of the investment real estate held by the company (belonging to non recurring profit and loss items) is expected to range from – 600 million yuan to – 480 million yuan; At the same time, the company has conducted a comprehensive inventory and impairment test of various assets, and plans to withdraw the provision for impairment of various assets from 25 million yuan to 30 million yuan.
4、 Other relevant instructions
1. This performance forecast is the preliminary estimation result of the company’s financial department, which has not been audited by an accounting firm. The specific financial data shall be subject to the 2021 annual report disclosed by the company.
2. The profit and loss from changes in fair value and the amount of provision for asset impairment will be determined after evaluation and audit by the evaluation institution and audit institution with securities and futures qualification hired by the company. Please make prudent decisions and pay attention to investment risks.
3. The scheduled disclosure date of the company’s 2021 annual report is April 30, 2022, and the information disclosure media designated by the company is cninfo.com www.cn info. com. cn. And China Securities News, Shanghai Securities News, securities daily and securities times. All information of the company shall be subject to the information disclosed in the above designated media. Please pay attention to the subsequent announcements of the company and pay attention to the investment risks.
It is hereby announced.
Cedar Development Co.Ltd(002485) board of directors
January 29, 2022
