Securities code: 600982 securities abbreviation: Ningbo Energy Group Co.Ltd(600982) Announcement No.: 2022-001 Ningbo Energy Group Co.Ltd(600982)
Announcement of annual performance increase in 2021
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 note: Ningbo Energy Group Co.Ltd(600982) (hereinafter referred to as “the company”) expects to realize a net profit attributable to shareholders of the listed company of about 468 million yuan in 2021, an increase of about 215.389 million yuan, or about 85.27% year-on-year, compared with the same period of last year (statutory disclosure data); Compared with the same period of last year (retroactively adjusted data), it will increase by about 207913700 yuan, a year-on-year increase of about 79.94%.
It is estimated that the net profit attributable to the shareholders of the listed company excluding non recurring profits and losses in 2021 will be about 180 million yuan, an increase of about 16.6961 million yuan, or about 10.22% year-on-year, compared with the same period of last year (legally disclosed data); Compared with the same period of last year (retroactively adjusted data), it will increase by about 16.6961 million yuan, a year-on-year increase of about 10.22%. The substantial growth of the company’s performance in this period is mainly affected by non recurring profits and losses, mainly due to the conversion of accounting methods for Tianjin Tianjin Capital Environmental Protection Group Company Limited(600874) equity investment and the merger of Ningbo Mingzhou Biomass Power Generation Co., Ltd. and Ningbo Energy Group Co.Ltd(600982) Group Material Distribution Co., Ltd. under the same control.
1、 Performance forecast of the current period
(I) performance forecast period
From January 1, 2021 to December 31, 2021.
(II) performance forecast
1. According to the preliminary calculation of the financial department, the net profit attributable to the shareholders of the listed company is expected to be about 468 million yuan in 2021, which will increase by about 215389000 yuan compared with the same period of last year (statutory disclosure data), with a year-on-year increase of about 85.27%; Compared with the same period of last year (retroactively adjusted data), it will increase by about 207913700 yuan, a year-on-year increase of about 79.94%.
2. According to the preliminary calculation of the financial department, the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses in 2021 is expected to be about 180 million yuan, an increase of about 16.6961 million yuan, or about 10.22% year-on-year, compared with the same period of the previous year (legally disclosed data); Compared with the same period of last year (retroactively adjusted data), it will increase by about 16.6961 million yuan, a year-on-year increase of about 10.22%.
3. Since the company merged 100.00% equity of Ningbo Mingzhou Biomass Power Generation Co., Ltd. (hereinafter referred to as “Mingzhou biomass”) and 100.00% equity of Ningbo Energy Group Co.Ltd(600982) Group Material Distribution Co., Ltd. (hereinafter referred to as “material distribution”) under the same control in 2021, the financial statements of the same period of last year need to be retroactively adjusted.
4. The expected performance has not been audited by certified public accountants.
2、 Performance in the same period of last year
Before retroactive adjustment:
(I) net profit attributable to shareholders of the listed company: 252611000 yuan. Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses: 163.3039 million yuan.
(II) earnings per share: 0.2361 yuan.
After retroactive adjustment:
(I) net profit attributable to shareholders of the listed company: 260.0863 million yuan. Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses: 163.3039 million yuan.
(II) earnings per share: 0.2432 yuan.
3、 Main reasons for performance increase in the current period
(I) main business impact.
As an important part of the company’s energy industry chain, the shipping market has improved since 2021, the average freight rate has increased compared with the same period of last year, and the performance has increased significantly compared with the same period of last year.
(II) impact of non operating profit and loss.
1. Conversion of accounting method for Tianjin Tianjin Capital Environmental Protection Group Company Limited(600874) equity investment
The company’s subsidiaries Ningbo Ningdian Investment Development Co., Ltd., Ningbo bestrex Trading Co., Ltd. and Green Energy Investment Development Co., Ltd. (Hong Kong) have purchased Tianjin Capital Environmental Protection Group Company Limited(600874) (hereinafter referred to as ” Tianjin Capital Environmental Protection Group Company Limited(600874) “) H shares through Hong Kong stock connect since June 2020. Before November 11, 2021, the company failed to exert significant influence on Tianjin Capital Environmental Protection Group Company Limited(600874) , so it is accounted as a trading financial asset. As of November 11, 2021, the above three companies hold Tianjin Capital Environmental Protection Group Company Limited(600874) 132.098 million shares in total, with a shareholding ratio of 9.26%, which is the second largest shareholder of Tianjin Capital Environmental Protection Group Company Limited(600874) . The qualification of Mr. Liu Tao, deputy manager of the investment management department of the company, as a director of Tianjin Capital Environmental Protection Group Company Limited(600874) was approved by the third extraordinary general meeting of Tianjin Capital Environmental Protection Group Company Limited(600874) 2021 on November 11, 2021, and his term of office will take effect from November 11, 2021. Accordingly, the company can exert significant influence on Tianjin Capital Environmental Protection Group Company Limited(600874) .
According to Article 14 of the accounting standards for Business Enterprises No. 2 – long term equity investment, if the investor can exert significant influence or implement joint control over the invested entity due to additional investment and other reasons, it shall add the sum of the fair value of the original equity investment and the new investment cost determined in accordance with the accounting standards for Business Enterprises No. 22 – recognition and measurement of financial instruments, As the initial investment cost calculated according to the equity method.
According to Article 10 of accounting standards for Business Enterprises No. 2 – long term equity investment, if the initial investment cost of long-term equity investment is greater than the fair value share of the investee’s identifiable net assets at the time of investment, the book value of long-term equity investment shall not be adjusted; If the initial investment cost of a long-term equity investment is less than the fair value share of the investee’s identifiable net assets at the time of investment, the difference shall be included in the current profits and losses, and the cost of long-term equity investment shall be adjusted at the same time.
The company takes November 11, 2021 as the accounting conversion date of long-term equity investment. According to preliminary calculation, the difference between the initial investment cost of long-term equity investment included in the current non operating income on the conversion date and the fair value share of identifiable net assets of the investee is about 204.1765 million yuan. From November 12, 2021 to December 31, 2021, the company increased its holdings of Tianjin Capital Environmental Protection Group Company Limited(600874) 8.35 million shares, The difference between the initial investment cost of long-term equity investment included in non operating income and the fair value share of identifiable net assets of the investee is about 14.1599 million yuan. The conversion of Tianjin Capital Environmental Protection Group Company Limited(600874) equity investment accounting method increases the net profit attributable to shareholders of the listed company by about 218336400 yuan.
2. Combined Mingzhou biomass and material distribution under the same control
In 2021, the company completed the acquisition of 100.00% equity of Mingzhou biomass and 100.00% equity of material distribution. Mingzhou biomass and material distribution is an enterprise controlled by the actual controller of the company. Mingzhou biomass and material distribution is controlled by the actual controller of the company before and after the merger, and the control is not temporary. Therefore, the above merger is a business merger under the same control.
According to Article 38 of the accounting standards for Business Enterprises No. 33 – consolidated financial statements, for subsidiaries and businesses increased by the parent company due to business combination under the same control during the reporting period, the income, expenses and profits of the subsidiary and business combination from the beginning of the current period to the end of the reporting period shall be included in the consolidated income statement, and the relevant items of the comparative statements shall be adjusted, The reporting entity after deemed merger has existed since the time point when the final controller began to control.
In 2021, the unaudited net profit of Mingzhou biomass and material distribution totaled about 26.796 million yuan. The combined Mingzhou biomass and material distribution under the same control increased the net profit attributable to the shareholders of the listed company by about 26.796 million yuan.
4、 Risk tips
The company has no major uncertain factors affecting the accuracy of the performance forecast.
5、 Other explanatory matters
The above forecast data are only preliminary accounting data. The specific and accurate financial data shall be subject to the audited annual report of 2021 officially disclosed by the company. Please pay attention to the investment risks.
It is hereby announced.
Ningbo Energy Group Co.Ltd(600982) board of directors January 20, 2022
