Securities code: 002761 securities abbreviation: Zhejiang Construction Investment Group Co.Ltd(002761) Announcement No.: 2022-008 Zhejiang Construction Investment Group Co.Ltd(002761)
Stock trading abnormal fluctuation and risk prompt announcement
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.
Important risks and content tips:
1. Zhejiang Construction Investment Group Co.Ltd(002761) (hereinafter referred to as “the company”) shares have deviated from the closing price by more than 20% for three consecutive trading days on February 17, 2022, February 18, 2022 and February 21, 2022. According to the relevant regulations of Shenzhen Stock Exchange, it belongs to abnormal fluctuation of stock trading.
2. Trading risk in the secondary market: the daily closing price of the company’s stock price has deviated by more than 20% in three consecutive trading days. As of the closing on February 21, 2022, the closing price of the company is 21.21 yuan. From February 7 to 21, 2022, the range increase is 170.88%. The recent fluctuation range of the company’s share price is large. The turnover rate on February 21 was 35.42%, significantly higher than the average turnover rate of 13.21% in the 20 trading days before the company’s stock change (from January 17 to February 18). From February 7 to 21, 2022, the range turnover rate was 278.59%. According to the relevant valuation data of China Securities Index Co., Ltd., as of the closing of February 21, 2022, the latest static P / E ratio of e construction industry of the CSRC to which the company belongs is 10.06 times, the latest P / E ratio of the company is 19.39 times, the industry P / B ratio is 0.96 times, and the latest P / B ratio of the company is 3.19 times, which are significantly higher than that of Listed Companies in the same industry. Please invest rationally and pay attention to risks. 1、 Introduction to abnormal fluctuations in stock trading
The deviation of the closing price increase of the company’s shares (Securities abbreviation: Zhejiang Construction Investment Group Co.Ltd(002761) , securities code: 002761) for three consecutive trading days on February 17, 2022, February 18, 2022 and February 21, 2022 has exceeded 20%. According to the relevant regulations of Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Stock Exchange”), it belongs to the situation of abnormal fluctuation of stock trading. 2、 Relevant information concerned and verified by the company
In view of the abnormal fluctuation of the company’s shares, the company checked the relevant matters by sending letters and other means. The relevant information is described as follows:
1. There is no need to correct or supplement the information disclosed by the company in the early stage;
2. Recently, the public media has not reported any unpublished material information that may or has had a great impact on the company’s stock trading price;
3. At present, the operation of the company is normal, and the internal and external business environment has not changed significantly; The company’s 2021 annual report is scheduled to be disclosed on April 28, 2022;
4. After verification, the company, the controlling shareholder and the actual controller have no major events that should be disclosed but not disclosed about the company or are in the planning stage;
5. After verification, the controlling shareholder and actual controller of the company did not buy or sell the company’s shares during the abnormal fluctuation of shares. 3、 Description of no information that should be disclosed but not disclosed
The board of directors of the company confirms that, in addition to the above matters, the company has no undisclosed matters that should be disclosed in accordance with the stock listing rules of Shenzhen Stock Exchange or planning, negotiation, intention, agreement, etc. related to the matters; The board of directors has not been informed that the company has undisclosed information that should be disclosed in accordance with the stock listing rules of Shenzhen Stock Exchange and has a great impact on the trading price of the company’s shares and their derivatives; The information disclosed by the company in the early stage does not need to be corrected or supplemented. 4、 Risk tips
1. According to the stock changes in the early stage, the company did not find any violation of the fair disclosure of information through self-examination.
2. On February 18, 2022, the company received the attention letter on Zhejiang Construction Investment Group Co.Ltd(002761) from Shenzhen Stock Exchange (company Department attention letter [2022] No. 147), requiring the company to confirm whether there is any major information that should be disclosed but not disclosed, and whether there is any major change in the fundamentals of the company. Describe in detail the recent research of reception institutions and individual investors, and whether there is any violation of fair disclosure of information. Check whether the controlling shareholders, actual controllers, directors, supervisors, senior managers and their immediate family members of the company have bought and sold the company’s shares and whether they are suspected of insider trading. The company is carefully checking relevant issues in accordance with the requirements of the letter of concern.
3. Trading risk in the secondary market: the daily closing price of the company’s stock price has deviated by more than 20% in three consecutive trading days. As of the closing on February 21, 2022, the closing price of the company is 21.21 yuan. From February 7 to 21, 2022, the range increase is 170.88%. The recent fluctuation range of the company’s share price is large. The turnover rate on February 21 was 35.42%, significantly higher than the average turnover rate of 13.21% in the 20 trading days before the company’s stock change (from January 17 to February 18). From February 7 to 21, 2022, the range turnover rate was 278.59%. According to the relevant valuation data of China Securities Index Co., Ltd., as of the closing of February 21, 2022, the latest static P / E ratio of e construction industry of the CSRC to which the company belongs is 10.06 times, the latest P / E ratio of the company is 19.39 times, the industry P / B ratio is 0.96 times, and the latest P / B ratio of the company is 3.19 times, which are significantly higher than that of Listed Companies in the same industry. Please invest rationally and pay attention to risks.
4. Impairment risk of accounts receivable: in the construction industry where the company is located, the construction period of general projects is relatively long, and there is a certain lag in the completion, acceptance and audit final accounts of the project. Therefore, the balance of accounts receivable of the company is large, and affected by the regulation of the real estate industry, the turnover speed of accounts receivable is slow, so there is a certain risk of recovery of accounts receivable. As of September 30, 2021, the company’s accounts receivable was 31890309951.54 yuan, notes receivable 274696649.23 yuan, contract assets 21429204235.93 yuan, and the total value of accounts receivable, notes receivable and contract assets was 56066510836.70 yuan, accounting for 58.59% of the total assets of the current period. The company will make provision for impairment of relevant receivables in accordance with the accounting standards, and timely and fully assess and disclose the impact of the above risks on the financial statements according to the audit. Meanwhile, from January to September 2021, the net cash flow from the company’s operating activities was -3783622122.33 yuan. Please invest rationally and pay attention to risks.
5. The asset liability ratio of the company is relatively high. As of September 30, 2021, the asset liability ratio of the company is 91.42%, which is significantly higher than the average level of Listed Companies in the same industry. Please invest rationally and pay attention to risks.
6. The capital market is affected by many factors. Therefore, the company reminds investors to fully understand the stock market risks, pay attention to the secondary market transaction risks, make prudent decisions, invest rationally, improve risk awareness, and avoid blindly following the trend. 7. The company does not need to disclose the performance forecast, and the undisclosed regular performance information is not provided to a third party other than the accounting firm audited by the company.
8. The information disclosure media designated by the company are China Securities News, securities times, Shanghai Securities News, securities daily and cninfo（ http://www.cn.info.com.cn. ）, all information of the company shall be subject to the information published in the above designated media.
9. The company will conscientiously perform the obligation of information disclosure and do a good job of information disclosure in a timely manner in strict accordance with the provisions and requirements of relevant laws and regulations. Please invest rationally and pay attention to risks.
It is hereby announced
Zhejiang Construction Investment Group Co.Ltd(002761)
Board of directors
February 21, 2022
