The Shandong Gold Phoenix Co.Ltd(603586) with huge losses in speculation in futures disclosed the performance forecast in 2021.
According to the data, according to the preliminary calculation of the financial department, Shandong Gold Phoenix Co.Ltd(603586) it is estimated that the net profit attributable to the shareholders of the listed company in 2021 will be about -55.7758 million yuan, a decrease of 218884100 yuan over the same period of the previous year, a year-on-year decrease of about 134.20%.
During the reporting period, the impact of non recurring profit and loss on net profit is expected to be about -63.5543 million yuan, a decrease of 99.7546 million yuan compared with the same period of last year. After deducting the above non recurring gains and losses, it is estimated that the net profit attributable to the shareholders of the listed company in 2021 will be about 7.7785 million yuan, a decrease of 119.1295 million yuan over the same period of the previous year, a year-on-year decrease of about 93.87%.
Source: Shandong Gold Phoenix Co.Ltd(603586) performance forecast
In contrast, in 2020 Shandong Gold Phoenix Co.Ltd(603586) , the net profit attributable to the shareholders of the listed company was 163.1083 million yuan; The net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses was 126.908 million yuan, or 0.82 yuan per share.
For the reasons for the loss in advance, Shandong Gold Phoenix Co.Ltd(603586) said that the gross profit margin of the company’s main products decreased compared with the same period due to the significant appreciation of RMB against the US dollar and the rise in the price of raw materials; In terms of non recurring profits and losses, the futures investment losses of the company’s subsidiaries in the current period are large.
Speculation futures losses, Shandong Gold Phoenix Co.Ltd(603586) in the end what kind of loss?
On October 12, 2021, Shandong Gold Phoenix Co.Ltd(603586) announced that it had closed all the hot coil 2110 contracts built in the early stage on October 12, with a closing loss of 20.51117 million yuan. So far, Shandong Gold Phoenix Co.Ltd(603586) has accumulated a loss of 108 million yuan, accounting for 66.07% of its audited net profit in 2020 .
Shandong Gold Phoenix Co.Ltd(603586) said that it has closed all the futures contracts built in the early stage, will terminate the futures investment trading, terminate the futures investment and related plans, and will continue to focus on the main business in the future. In addition, the profit and loss of futures closing will be included in its profit and loss in 2021, which will have an impact on the performance in 2021.
According to the data, Shandong Gold Phoenix Co.Ltd(603586) was established in August 1999. It is a high-tech enterprise with brake friction materials and their products as the leading products. It was listed on the Shanghai Stock Exchange in April 2017.
The third quarterly report shows that in the first three quarters of 2021, Shandong Gold Phoenix Co.Ltd(603586) achieved an operating revenue of 1.008 billion yuan, a year-on-year increase of 2.15%; The net profit loss attributable to the owners of the parent company was 40.9656 million yuan, up from 115 million yuan in the same period of last year, with a year-on-year decrease of 135.70%; The basic earnings per share was -0.21 yuan, up from 0.58 yuan in the same period last year.
