Stock Code: 600865 stock abbreviation: Baida Group Co.Ltd(600865) No.: 2022-005 Baida Group Co.Ltd(600865)
Announcement of performance reduction 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 content tips: 1. According to the preliminary calculation of the financial department, the net profit attributable to the shareholders of the listed company in 2021 is expected to be 163.76 million yuan to 102.76 million yuan, a decrease of 139 million yuan to 200 million yuan compared with the same period of last year, a year-on-year decrease of 46% to 66%. 2. The performance pre reduction is mainly caused by the increase in fair value loss caused by the fluctuation of Bank Of Hangzhou Co.Ltd(600926) stock price held by the company and the decrease in dividend amount of equity investment compared with the same period of last year. 3. The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is 93.48 million yuan to 74.48 million yuan, which will decrease by 0 to 19 million yuan compared with the same period of last year, a year-on-year decrease of 0% to 20%.
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 in 2021 is expected to be 163.76 million yuan to 102.76 million yuan, a decrease of 139 million yuan to 200 million yuan compared with the same period of the previous year, a year-on-year decrease of 46% to 66%. 2. The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is 93.48 million yuan to 74.48 million yuan, which will decrease by 0 to 19 million yuan compared with the same period of last year, a year-on-year decrease of 0% to 20%. (III) the expected performance of the company has not been audited by certified public accountants. 2、 Performance in the same period of last year (I) net profit attributable to shareholders of listed companies: 302.76 million yuan. Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses: 93.48 million yuan. (II) earnings per share: 0.80 yuan. 3、 Main reasons for performance changes in the current period 1. Reasons for the decrease of net profit compared with the same period of last year:
1) The Bank Of Hangzhou Co.Ltd(600926) shares held and sold by the company generated a fair value change income of 204.2432 million yuan due to the change of share price in the same period of last year. The closing share price of Bank Of Hangzhou Co.Ltd(600926) shares held in the current period decreased compared with the beginning of the period, resulting in the loss of fair value change. The amount of fair value change decreased significantly year-on-year, resulting in a significant decrease in the company’s net profit year-on-year. The amount of changes in fair value is included in non recurring profits and losses. 2) The dividend amount of equity investment held by the company decreased compared with the same period of last year, and the income is included in recurring profits and losses. 2. Reasons for the change of net profit after deducting non recurring profit and loss over the same period of last year:
This is mainly due to the decrease of dividend amount of equity investment held by the company in the current period compared with the same period of last year. 4、 Risk tip 1. The “fancy year” project invested by the company with its own funds and equity supporting financing in the early stage failed to recover the investment principal and income on schedule. The company has been actively urging the project executive partner Hangzhou qice Investment Management Co., Ltd. (hereinafter referred to as “Hangzhou qice”) to take various measures to minimize the loss. At present, the project is still in the process of litigation. According to the communication between the company and Hangzhou qice and the annual audit accountant, an impairment provision of RMB 6 million is withdrawn for this investment project in the 2021 annual performance forecast. Due to the subsequent land withdrawal or equity transfer of the project, as well as the major uncertainty in the litigation results with Hangzhou Huapu Real Estate Development Co., Ltd., huaxiangnian group (China) Co., Ltd. and Shanghai huaxiangnian Real Estate Development Co., Ltd., the principal of the investment of RMB 100 million may be at risk of being completely unrecoverable. If it is determined that it is completely unrecoverable, The company will make corresponding impairment provision, which will have a negative impact on the company’s net profit in 2021. The company will fulfill the obligation of information disclosure in time according to the progress. Please pay attention to the investment risks. 2. For other projects invested in real estate by the company with its own funds and in the form of equity supporting financing, due to the impact of the overall macro environmental factors of the real estate industry, there may be a risk that the principal and income can not be recovered or partially recovered, which will have an impact on the net profit of 2021.
5、 Other explanatory matters 1. The board of directors, audit committee and management of the company have fully communicated with the annual audit accountant on the performance forecast. 2. The above forecast data are only preliminary accounting data. The specific and accurate financial data are subject to the audited annual report of 2021 officially disclosed by the company. Please pay attention to the investment risks.
It is hereby announced.
Baida Group Co.Ltd(600865) board of directors January 22, 2002
