With regard to the attention letter on Myhome Real Estate Development Group Co.Ltd(000667) , the company’s Department’s attention letter [2022] No. 92 Myhome Real Estate Development Group Co.Ltd(000667) board of directors:
According to the performance forecast announcement of 2021 disclosed by your company on January 29, 2022, the net profit attributable to the shareholders of the listed company in 2021 (hereinafter referred to as “net profit”) suffered a significant loss of 250 million yuan to 360 million yuan, The net profit after deducting non recurring profits and losses (hereinafter referred to as “net profit after deducting non recurring profits and losses”) attributable to the shareholders of the listed company suffered a significant loss of 2240 million yuan to 3240 million yuan. The main reasons for the sharp decline in performance are as follows: first, the company’s fabricated construction business has not reached the corresponding business scale, resulting in an operating loss of about 900 million yuan due to the impact of factory depreciation, capital cost and other fixed expenses; Second, affected by the development cycle of real estate projects, the settlement area and settlement income of real estate projects are less, resulting in an operating loss of about 400 million yuan in real estate business; Third, due to the promotion of national environmental protection policies, the area of Huizhou Luofushan project held by the company is located in the reservoir drinking water source protection area, resulting in the subsequent development and construction of the land held by the company can not be carried out according to the expected planning, and the impairment loss is expected to be about 1 billion yuan; Fourth, the decontamination price and speed of the real estate project did not meet the expectations, resulting in the extension of the project liquidation cycle, increased costs and signs of loss. After careful evaluation by the management, it is expected to produce an impairment loss of about 1 billion yuan. Our ministry is concerned about this. Please check the following questions:
1. Your company’s report for the third quarter of 2021 shows that your company’s net profit in the first three quarters was -574 million yuan, and the net profit after deduction was -563 million yuan. The annual performance forecast of 2021 shows that the company’s loss has increased significantly. In addition, your company’s net profit after deducting non profits has been negative for two consecutive years. Please your company: (1) explain the reason and rationality of the large loss in the fourth quarter of 2021; (2) In combination with the actual operation of your company’s various businesses, the proportion of income and net profit, industry development trend, etc., explain whether there is significant uncertainty in your company’s sustainable operation ability.
2. The performance forecast shows that the operating loss of prefabricated construction business is one of the main reasons for your company’s loss in 2021. According to your company’s 2017 annual report, the company has taken product industrialization as one of its important development strategies since 2013. With the approval of the third extraordinary general meeting of shareholders in 2017, the company controls Meihao assembly, a professional construction enterprise of assembly and construction in China, by participating in capital increase and share expansion. Please your company: (1) explain the operation and performance of prefabricated construction business in recent years in combination with the company’s development strategy, and whether it conforms to the company’s established development plan; (2) Explain that your company put forward the development strategy of “product industrialization” in 2013. After holding the wonderful assembly in 2017, the prefabricated construction business still did not reach the corresponding business scale in 2021, and the main reason for your company’s operating loss of RMB 900 million in 2021. Can the prefabricated construction form a “stable business model”, Whether the relevant income belongs to the income that should be deducted in accordance with the requirements on matters related to the deduction of operating income in the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 – business handling.
3. The performance forecast shows that your company is expected to withdraw an impairment of 2 billion yuan in 2021. Please your company: (1) explain the development, construction and operation of Huizhou Luofushan project up to now, the specific reasons for the failure of the plot to carry out subsequent development and construction according to the expected planning, the estimated impairment loss of about 1 billion yuan, the calculation process, whether there are signs of value reduction in previous years, whether the impairment is accrued in time, and whether the amount is reasonable; (2) In combination with the operation of your company, the region where the real estate is located and the sales situation, explain the specific conditions of the main real estate projects for which the impairment is expected to be accrued, the basis and calculation process of the impairment, and the main reasons, compliance and rationality of the centralized large amount of impairment in this reporting period compared with the previous years.
The annual audit accountant shall check and give opinions.
Please make a written statement on the above issues, submit the relevant explanatory materials to our department for disclosure before February 11, 2022, and send a copy to the dispatched office at the same time. At the same time, remind your company and all directors, supervisors and senior managers to strictly abide by the securities law, the company law and other laws and regulations, as well as the stock listing rules of the exchange, and perform the obligation of information disclosure truthfully, accurately, completely, timely and fairly.
We are writing to inform you that
Shenzhen Stock Exchange listed company management department 1 January 29, 2022
