Securities code: 002434 securities abbreviation: Zhejiang Wanliyang Co.Ltd(002434) Announcement No.: 2022-011 Zhejiang Wanliyang Co.Ltd(002434)
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, 2021 to December 31, 2021
(II) performance forecast: the expected net profit is negative
The current reporting period of the project is the same period of last year
Loss attributable to listed companies: 70 million yuan – 47 million yuan; Profit: 617.2836 million yuan; net profit of shareholders
Net profit after deducting non recurring losses: 840 million yuan – 610 million yuan profit: 447.6939 million yuan profit
Basic earnings per share loss: 0.52 yuan / share – 0.35 yuan / share earnings: 0.47 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 audit accountant on matters related to the performance forecast, and there is no major difference between the two sides.
3、 Explanation of performance changes (I) provision for impairment of goodwill
As of December 31, 2021, the original book value of the company's goodwill was 1.201 billion yuan, which was formed by the company's acquisition of 100% equity of Wuhu Zhejiang Wanliyang Co.Ltd(002434) transmission Co., Ltd. in 2016. No provision for impairment has been made in previous years.
In 2021, affected by the tight supply of automobile chips and the sharp rise in the price of raw materials, the income and profit of passenger vehicle transmission involved in the company's goodwill asset group did not meet the expectations. According to the accounting standards for Business Enterprises No. 8 - asset impairment and relevant accounting policies, based on the principle of prudence, the company plans to withdraw the provision for impairment of goodwill. It is estimated that the amount of provision for impairment of goodwill in the current period is 800 million yuan to 1 billion yuan, which will correspondingly reduce the company's net profit attributable to shareholders of Listed Companies in 2021 by 800 million yuan to 1 billion yuan.
At present, the relevant impairment test is still in progress, and the final amount of goodwill impairment provision will be determined after evaluation and audit by the evaluation institution and audit institution hired by the company. (II) decline in operating performance
In 2021, the company's operating revenue is expected to decrease by 10% - 15% year-on-year, which is mainly affected by the shortage of automobile chip supply, and the sales revenue of passenger vehicle transmission of the company has decreased. Affected by the year-on-year decline in the sales volume of China's commercial vehicle slight card market, the sales revenue of the company's commercial vehicle transmission also decreased.
At the same time, in 2021, the prices of raw materials such as steel, aluminum and copper in China rose sharply, further increasing the company's product procurement costs, resulting in a significant decline in the gross profit margin of products and a year-on-year decrease in net profit.
4、 Risk tips
The relevant data of this performance forecast are the preliminary calculation results of the company's financial department, and the final data shall be subject to the data audited by the accounting firm. The specific financial data of 2021 will be disclosed in detail in the company's 2021 annual report.
Please pay attention to investment risks.
It is hereby announced.
Zhejiang Wanliyang Co.Ltd(002434) board of directors
January 29, 2022
