600077: Sundy Land Investment Co.Ltd(600077) special description of the inquiry letter Shanghai Stock Exchange: we have received the inquiry letter on matters related to Sundy Land Investment Co.Ltd(600077) share repurchase and performance forecast (SSE Gong Han (No. 2022] 00466, hereinafter referred to as the inquiry letter) transferred from Sundy Land Investment Co.Ltd(600077) (hereinafter referred to as Sundy Land Investment Co.Ltd(600077) company or company). We have carefully checked the financial matters that need to be explained in the inquiry letter, and now the report is explained as follows. According to the performance forecast, the company expects that the net profit attributable to the parent company in 2021 will be a loss of RMB 300-400 million, with a sharp year-on-year decrease of 185% – 214%. The loss is mainly due to the year-on-year decrease in investment income due to the provision for impairment of self owned leased real estate and the decrease in delivery of cooperative projects. The company is requested to: (1) explain the reason and rationality of the provision for impairment of large assets, the specific calculation process, and whether the provision for impairment in the early stage is sufficient; (2) Explain the reasons and rationality of the sharp decline in investment income in combination with the specific situation of cooperation projects in this year and last year. Please comment on the above issues. (Article 3 of the inquiry letter explains the reason and rationality of the provision for impairment of large assets, the specific calculation process, and the adequacy of the provision for straight reduction in the early stage
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