Securities code: 600077 securities abbreviation: Sundy Land Investment Co.Ltd(600077) Announcement No.: pro 2022-020 Sundy Land Investment Co.Ltd(600077)
Announcement on receiving the inquiry letter from Shanghai Stock Exchange on matters related to share repurchase and performance forecast
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.
Sundy Land Investment Co.Ltd(600077) (hereinafter referred to as "the company" or "the company") received the inquiry letter on matters related to Sundy Land Investment Co.Ltd(600077) share repurchase and performance forecast from Shanghai Stock Exchange on January 23, 2022 (szgh [2022] No. 0046), and now the contents of the inquiry letter are announced as follows:
"On January 21, 2022, your company announced that it would stop repurchasing the company's shares, and the cumulative amount of shares repurchased was only 8 million yuan, far lower than the lower limit of 130 million yuan specified in the preliminary plan. In addition, your company recently disclosed the announcement of performance loss in advance, and it is expected that the net profit attributable to the parent company in 2021 will be 300-400 million yuan. According to the stock listing rules of the exchange Article 13.1.1 and other relevant provisions, your company is hereby requested to further verify the following matters and disclose them to the public.
1、 According to the announcement, the company disclosed the repurchase plan on January 23, 2021, and plans to repurchase shares by centralized bidding within 12 months, with a repurchase amount of 130-260 million yuan. On January 21, 2022, the company terminated the repurchase plan, and the repurchase amount was only 8 million yuan. The company is requested to explain whether the early-stage decision is prudent in combination with the specific basis and risk factors considered when formulating the repurchase plan, and whether timely and sufficient risk tips have been given for failure to complete the repurchase on schedule in combination with the information disclosure during the repurchase period. The independent directors and the board of supervisors are requested to express clear opinions on the above issues.
2、 According to the announcement, the company said that one of the reasons for terminating the repurchase was to strengthen the safety management of the company's capital liquidity. During the repurchase period, the company purchased the private fund shares held by the actual controller with RMB 131 million in cash and invested RMB 500 million to establish a lithium subsidiary. The company is requested to: (1) explain in detail the reasons and rationality of repeatedly using large amount of funds for foreign investment but failing to arrange funds to complete share repurchase, and whether it damages the interests of minority shareholders; (2) In combination with the share pledge and reduction of the controlling shareholder and the directors, supervisors and senior managers, explain whether to use the repurchase information to affect the stock price. The independent directors and the board of supervisors are requested to express clear opinions on the above issues.
3、 According to the performance forecast, the company expects that the net profit attributable to the parent company in 2021 will be a loss of RMB 300-400 million, with a sharp year-on-year decrease of 185% - 214%. The loss is mainly due to the year-on-year decrease in investment income due to the provision for impairment of self owned leased real estate and the decrease in delivery of cooperative projects. The company is requested to: (1) explain the reason and rationality of the provision for impairment of large assets, the specific calculation process, and whether the provision for impairment in the early stage is sufficient; (2) Explain the reasons and rationality of the sharp decline in investment income in combination with the specific situation of cooperation projects in this year and last year. Please comment on the above issues.
Please disclose the information immediately after receiving this inquiry letter, reply to our department in writing within five trading days, and fulfill the corresponding information disclosure obligations. "
The company will timely organize relevant personnel to reply to the matters involved in the inquiry letter and timely fulfill the obligation of information disclosure. It is hereby announced.
Sundy Land Investment Co.Ltd(600077) board of directors January 24, 2022
