Zhejiang Founder Motor Co.Ltd(002196) : performance forecast for 2021

Securities code: 002196 securities abbreviation: Zhejiang Founder Motor Co.Ltd(002196) Announcement No.: 2022-003 Zhejiang Founder Motor Co.Ltd(002196)

Performance forecast for 2021

The company and its directors, supervisors and senior managers guarantee that the contents of the announcement are true, accurate and accurate

And shall be responsible for false records, misleading statements or major omissions in the announcement.

1、 Expected performance of the current period

1. Performance forecast period: January 1, 2021 to December 31, 2021

2. Expected performance:

\uf0a3 loss □ turning loss into profit \uf0a3 rising in the same direction \uf0a3 falling in the same direction \uf0a3 others

The current reporting period of the project is the same period of last year

Profit attributable to listed companies: 18 million yuan – 27 million yuan

The net profit of shareholders increased by 102.83% over the same period of last year – loss: – 636.97 million yuan

104.24%

Deducting non recurring losses: 115 million yuan – 124 million yuan

Net profit loss after profit: – 645.98 million yuan

Year on year growth: 82.20% – 80.8%

Basic earnings per share: 0.037 yuan / share – 0.056 yuan / share loss: – 1.36 yuan / share

Operating income (if applicable): 185 million yuan – 190 million yuan, 1142.57 million yuan

(used)

After deduction, the operating income is 1720 million yuan – 1770 million yuan and 1084.17 million yuan

(if applicable) Note: operating income after deduction refers to the operating income after deducting the business income irrelevant to the main business and the income without commercial substance.

2、 Communication with accounting firms

The financial data related to the performance forecast of the current period have not been audited by an accounting firm. The company has made pre communication on this performance forecast with the certified public accountants signed by the accounting firm providing annual audit services for the company. Up to now, there are no major differences between the two sides on this performance forecast. Since the audit work in 2021 is still in progress, the specific data shall be subject to the audit results. 3、 Explanation of performance change reasons

During the reporting period, the company’s operating performance turned from loss to profit mainly for the following reasons:

1. During the reporting period, benefiting from the rapid development of China Shanxi Guoxin Energy Corporation Limited(600617) automobile market, the production and sales volume of the company’s new energy vehicle drive motor increased significantly compared with the same period of last year, and the company’s operating revenue increased by more than 61.92% compared with the same period of last year, including the new energy vehicle drive motor business increased by more than 250% compared with the same period of last year. However, due to the sharp rise in the prices of bulk commodities such as copper, aluminum and silicon steel sheets during the reporting period, the cost of raw materials of the company increased accordingly, which affected the growth of the company’s operating profit lower than the growth of operating revenue, and the net profit after deducting non recurring profits and losses still suffered a loss.

2. During the reporting period, the company disposed of some real estate in order to revitalize its assets and return the funds for business development, resulting in an increase in the income from the disposal of fixed assets.

3. At the end of 2020, the company conducted a systematic impairment test on the goodwill formed by the early acquisition of Shanghai Haineng and Hangzhou DeVos and the intangible assets formed by Huarui mining, which showed signs of impairment. Based on the judgment of objective factors and future business development, the company accrued impairment reserves for the above asset groups; At the same time, the company has made provision for asset impairment for some accounts receivable, inventories and contract assets, with a total amount of 510 million yuan. During the reporting period, after testing and evaluation, the above assets do not need to make special impairment provision, so the asset impairment loss is significantly reduced compared with the previous year.

4. During the reporting period, the company’s holding subsidiary Lishui fangdezhiqu Applied Technology Research Institute Co., Ltd. received 50 million yuan of Government R & D subsidy, so the government subsidy increased significantly compared with the previous year. 4、 Other relevant instructions

This performance forecast is the preliminary accounting result of the company’s financial department, and the specific financial data will be disclosed in detail in the 2021 annual report.

Please make careful decisions and pay attention to investment risks.

It is hereby announced.

Zhejiang Founder Motor Co.Ltd(002196) board of directors January 14, 2022

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