Securities code: 601789 securities abbreviation: Ningbo Construction Co.Ltd(601789) Announcement No.: 2022-011 convertible bond Code: 113036 convertible bond abbreviation: ningjian convertible bond
Ningbo Construction Co.Ltd(601789) risk warning announcement
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
The company's shares have been trading for six consecutive trading days since February 16, 2022. The company has issued announcements of abnormal fluctuations in stock trading on February 19 and February 23, 2022. Now the relevant risks are solemnly reminded as follows to remind investors to make rational choices, improve risk awareness and avoid blindly following the trend:
● secondary market transaction risk. 1. From February 7 to 23 after the Spring Festival, the stock range of the company increased by 103.41%, with a large increase; 2. From February 7 to 23, the cumulative turnover rate of the company's shares was 88.07%, significantly higher than the previous turnover rate of the company; 3. The latest development of the company has a P / E ratio of 21.36 times and a P / B ratio of 2.51 times, which are significantly higher than those of Listed Companies in the same industry.
● there is no significant change in the company's main business. The company's main business is the traditional construction industry, including the general contracting of housing construction engineering, municipal garden engineering and related professional subcontracting business. The company's main business accounts for 100%. So far, the main business has not changed.
● impairment risk of receivables. The balance of accounts receivable of the company is large, and the turnover speed of accounts receivable is slow due to the regulation of the real estate industry. As of September 30, 2021, the total value of the company's accounts receivable, notes receivable and contract assets was RMB 12.404 billion, accounting for 61.35% of the total assets of the current period. There is a certain amount recovery risk and asset impairment risk.
● the risk that the net cash flow from operating activities is negative. As of January September 2021, the net cash flow generated from the company's operating activities was -1.099 billion yuan. Investors should pay attention to the operating risks.
● price fluctuation risk of convertible bonds. The premium rate of the company's convertible bonds is 146.27% for the pure bonds and 38.37% for the convertible shares. The premium rates are both high. Since February 7, 2022, the company's convertible bonds have fluctuated greatly in the short term, with an increase of 104.01%.
The shares of Ningbo Construction Co.Ltd(601789) (hereinafter referred to as "the company") rose for six consecutive trading days on February 16, February 17, February 18, February 21, February 22 and February 23, 2022. Recently, the company's stock fluctuates greatly, and the capital market is affected by many factors. The company solemnly reminds investors that they should 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.
1、 Secondary market transaction risk
1. The company's stock price rose for six consecutive trading days. As of the closing on February 23, 2022, the company's closing price was 8.34 yuan. From February 7 to 23 after the Spring Festival, the range increased by 103.41%.
2. From February 7 to 23, 2022, the cumulative turnover rate of the company's shares was 88.07%, significantly higher than the previous turnover rate of the company.
3. According to the relevant valuation data of China Securities Index Co., Ltd., as of the closing of February 23, 2022, the latest static P / E ratio of E48 civil engineering construction industry of the company's CSRC industry was 9.40 times, the latest dynamic P / E ratio of the company was 21.36 times, the P / B ratio of civil engineering construction industry was 0.89 times, and the latest P / B ratio of the company was 2.51 times, The P / E ratio and P / B ratio of the company are significantly higher than those of Listed Companies in the same industry. Please invest rationally and pay attention to risks.
2、 There is no significant change in the company's main business
The company's main business is the traditional construction industry, including the general contracting of housing construction engineering, municipal garden engineering and related professional subcontracting business. The company's main business accounts for 100%. So far, the main business has not changed. Please invest rationally and pay attention to risks.
3、 Impairment risk of receivables
The balance of the company's accounts receivable 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 is 4195648116.34 yuan, notes receivable is 432188145.73 yuan, contract assets is 7776229998.42 yuan, and the total value of accounts receivable, notes receivable and contract assets is 12404066260.49 yuan, accounting for 61.35% of the total assets of the current period. There is a certain risk of fund recovery and asset impairment. Please invest rationally and pay attention to risks.
4、 Risk of negative net cash flow from operating activities
As of January September 2021, the net cash flow from the company's operating activities was -1098649684.64 yuan. Please invest rationally and pay attention to business risks.
5、 Convertible bond price fluctuation risk
As of February 23, 2022, the price of "ningjian convertible bonds" was 242.43 yuan per share, much higher than the face value of 100 yuan per share. According to the data of China stock market news choice, the premium rate of the company's convertible bonds was 146.27% for pure bonds and 38.37% for shares. There was a situation of high premium rate. Since February 7, 2022, the company's convertible bonds have fluctuated greatly in the short term, with an increase of 104.01%. Please invest rationally and pay attention to risks.
The company solemnly reminds investors that the company's information can be found on the website of Shanghai Stock Exchange (www.sse. Com. CN.) And the relevant announcements published in China Securities News, Shanghai Securities News, securities times and Securities Daily, the information disclosure media designated by the company. The capital market is affected by many factors. The company solemnly reminds investors that they should fully understand the risks of the stock market, pay attention to the trading risks of the secondary market, make prudent decisions, invest rationally, improve risk awareness, avoid blindly following the trend and pay attention to investment risks.
It is hereby announced.
Ningbo Construction Co.Ltd(601789) board of directors February 24, 2022
