Tonghua Grape Wine Co.Ltd(600365) (hereinafter referred to as ” Tonghua Grape Wine Co.Ltd(600365) “) issued the announcement of annual performance forecast for 2021 on January 10. According to the announcement, Tonghua Grape Wine Co.Ltd(600365) it is expected that the net profit attributable to the shareholders of the listed company will turn losses into profits in 2021, and the net profit attributable to the shareholders of the listed company will be 3 million to 4.5 million yuan compared with the same period of the previous year. The estimated net profit attributable to the listed company after deducting 3.65 million {to 2 million} of non recurring profit and loss.
With regard to the main reasons for the earnings forecast for the current period, Tonghua Grape Wine Co.Ltd(600365) said that on the one hand, the number of parties, dinners and banquets gradually increased, the wine consumption showed a recovery trend, and the state imposed anti-dumping duties on wines originating in Australia; Secondly, the company’s relevant illegal guarantee matters are lifted, so that more energy is invested in normal production and operation. The above factors also promote the growth of the company’s operating revenue in 2021 compared with that in 2020.
Another key reason is that Tonghua Grape Wine Co.Ltd(600365) has completed the acquisition of 49% minority equity of jiurunyuan. In 2021, jiurunyuan’s e-commerce business rebounded steadily and its profit increased, which increased the overall net profit of Tonghua Grape Wine Co.Ltd(600365) 2021 by about 20 million compared with 2020.
At the same time, at the end of 2020 Tonghua Grape Wine Co.Ltd(600365) according to the market, strategy and inventory situation, it is estimated that 30.76 million inventory falling price reserves have been withdrawn for the inventory whose net realizable value is lower than the cost. After preliminary accounting, at the end of 2021, the amount of inventory with net realizable value lower than cost in the company’s ending inventory is small, and it is expected that the amount of falling price reserve accrued for inventory in 2021 will be significantly lower than that in 2020.
In addition, Tonghua Grape Wine Co.Ltd(600365) said that the company improved its profitability by enhancing information control, improving operational efficiency, reducing operating costs, improving the company’s internal control and strict management.
(source: Beijing News)
