Zhongxin Jingwei, April 22 (Xinhua) — on the evening of April 22, Tahoe Group Co.Ltd(000732) announced that it expected a net loss of 3.5 billion yuan to 4.6 billion yuan in 2021 and a profit of 101 million yuan to 132 million yuan previously; The estimated revenue is 4.26 billion yuan – 5.635 billion yuan.
For the reasons for performance correction, Tahoe Group Co.Ltd(000732) lists four points:
First, the company reassessed the assets with signs of impairment as of December 31, 2021 in combination with the current market situation of the real estate industry and the relevant impact of the continuous epidemic, and the company made a supplementary provision for the impairment loss of relevant assets;
Second, the company reassessed the financing cost according to the latest progress of debt restructuring, and the amount of financial expenses is higher than the performance forecast;
Third, the company has accrued the corresponding estimated liabilities according to the latest litigation progress after the disclosure of the performance forecast;
Fourth, the estimated value-added of the company’s investment real estate is less than the evaluation results.
In addition, Tahoe Group Co.Ltd(000732) indicates that the net profit attributable to the shareholders of the listed company in 2019 is about 466 million yuan, and the net loss after deducting non recurring profits and losses is about 402 million yuan; In 2020, the company realized a net loss attributable to shareholders of listed companies of about 4.999 billion yuan, and the net loss after deducting non recurring profits and losses was 4.456 billion yuan. Meanwhile, the company expects that the net profit in 2021 will remain negative. According to relevant regulations, the company may be warned of other risks by Shenzhen Stock Exchange.
In 2022, the beneficiary real estate sector rebounded as a whole. As of April 22, Tahoe Group Co.Ltd(000732) share price reported 2.49 yuan / share, up more than 12% during the year.
