Tianyu Eco-Environment Co.Ltd(603717) announced on January 26 that on the same day, the company signed the Shanghai real estate sales contract with Shanghai Fudan Microelectronics Group Co.Ltd(688385) to sell the house with a construction area of 6772.27 m2 and related land use rights located at No. 12 and No. 15, Lane 1688, Guoquan North Road, Yangpu District, Shanghai with a total price of about 222 million yuan. The company said that this move can revitalize the existing assets, improve the use efficiency of the company’s assets and reduce operating costs; According to the preliminary calculation of the financial department, the net profit attributable to the parent company is expected to increase by more than 40 million yuan.
It is reported that Tianyu Eco-Environment Co.Ltd(603717) purchased the above houses in 2018 and has been used as office space so far. After the assets are sold, Shanghai Fudan Microelectronics Group Co.Ltd(688385) agrees to lease part of the real estate in the subject assets to the company for a lease term of 2 years, which will be determined by a separate lease agreement signed by both parties. The proceeds from the sale of assets will be used for the company’s production and operation needs, will not affect the company’s production and operation, and is conducive to the optimization of the company’s asset structure and the further improvement of management efficiency.
Tianyu Eco-Environment Co.Ltd(603717) at the same time, the announcement of performance loss in 2021 was issued. According to the preliminary calculation of the financial department, the net profit attributable to the parent company is expected to be – 220 million yuan to – 150 million yuan last year; The net profit after deducting non-profit is – 250 million yuan to – 170 million yuan. In 2020, the net profit attributable to the parent company was -157 million yuan, the net profit after deduction was -162 million yuan, and the earnings per share was -0.6511 yuan.
In this regard, the company explained that according to the principle of prudence and the relevant requirements of the accounting standards for Business Enterprises No. 22 – recognition and measurement of financial instruments, the company has evaluated the recoverability of the accounts receivable of the largest customer with the balance of accounts receivable as of December 31, 2021. After preliminary analysis and test, the credit impairment loss is proposed to be withdrawn individually, As a result, the credit impairment loss to be accrued during the reporting period increased significantly and the company’s profit decreased. The specific impairment amount shall be determined after being audited by an accounting firm and reviewed by the board of directors.
