Investors of Niutech Environment Technology Corporation(688309) (688309. SH) should not think about food these days, because the company has become the first ST company on the science and innovation board.
According to the disclosure, according to the preliminary calculation of the company’s financial department, the company is expected to achieve an operating income of 83 million yuan to 85 million yuan in 2021. After deducting the business income unrelated to the main business, the company is expected to achieve an operating income of 81.5 million yuan to 83.5 million yuan; The net profit attributable to the owner of the parent company is – 8.6 million yuan to – 10.3 million yuan, and the net profit deducting non recurring profits and losses attributable to the owner of the parent company is 20.5 million yuan to – 22.5 million yuan.
For the decline in performance, Niutech Environment Technology Corporation(688309) believes that first, due to the covid-19 epidemic outside China and the changes in the situation of potential customers, the amount of new orders signed by the company in 2020 is small, which directly affects the amount of revenue recognition in 2021; At the same time, the implementation of individual projects in 2021 was suspended or suspended due to government approval and other reasons, and affected by covid-19 epidemic and other factors outside China, the implementation progress of some orders in hand of the company was less than expected; The same factors delayed the signing progress of some orders in 2021, and the revenue recognition amount of new orders in 2021 was lower than expected.
Second, Niutech Environment Technology Corporation(688309) believes that it is related to credit impairment loss and contract asset impairment loss. It is reported that Niutech Environment Technology Corporation(688309) accrued the credit impairment loss of accounts receivable and notes receivable of about 2012 million yuan according to the accounting policy because the early arrears of some projects were not recovered in time; As some projects have not been settled, resulting in large contract assets, the company has accrued the impairment loss of contract assets of about 9.64 million yuan according to accounting policies. The total amount of the two is about 29.76 million yuan, which reduces the net profit of the company.
Niutech Environment Technology Corporation(688309) also revealed its “loss” in 2020.
Source: Announcement
Source: Announcement
According to Niutech Environment Technology Corporation(688309) itself, its current business characteristics are easy to form short-term performance fluctuations. The company said that because customers focus on asset investment, different from customers of ordinary enterprises, customers’ demand for the company’s products is not continuous and stable every year. From 2017 to 2021, the top five customers of the company totaled 15, and only five companies had annual overlap, which also means that the company needs to constantly develop new customers, maintain old customers and undertake new business in order to ensure the sustained and stable growth of business performance. According to the data, Niutech Environment Technology Corporation(688309) is an innovative enterprise integrating the research and development of organic waste cracking technology and the research and development of cracking equipment manufacturing technology.
It is worth noting that Niutech Environment Technology Corporation(688309) is still very confident in himself. The company described in the announcement that there were no substantial adverse changes in the relevant policies, market environment and core competitiveness of the industry. Up to now, the execution of other orders in hand that have entered the implementation stage of the company is basically normal, the reserves of customers outside China are good, and the promotion of potential orders is relatively smooth. In 2021, the company signed 10 new contracts with a contract amount of 190.1 million yuan (including tax). Compared with 2020, the number of contracts increased by 400% and the contract amount increased by 540.93%. As of December 31, 2021, the amount of orders on hand that the company has not yet recognized revenue is 209 million yuan (including tax).
Source: Announcement
But what does that mean? According to the Listing Rules of Shanghai Stock Exchange’s Kechuang board, if the audited net profit attributable to the shareholders of the listed company in 2021 is negative and the operating income is less than RMB 100 million (“net profit” shall be subject to the lower of deducting non recurring profits and losses, “operating income” shall be deducted from the business income irrelevant to the main business and the income without commercial substance), The company’s shares will be subject to delisting risk warning after the disclosure of the 2021 annual report (preceded by * ST in the abbreviation of the company’s shares). In other words, Niutech Environment Technology Corporation(688309) will become the first ST company on the science and innovation board.
From the disk, on July 14, 2020, Hengyu shares hit a record high of 97.44 yuan / share on the first day of listing in July 2020. Then he turned down and hit a new low of 15.39 yuan in the near future.
According to the data, Niutech Environment Technology Corporation(688309) was established on April 11, 2006 and was listed on July 14, 2020. At that time, the issuing price was 24.79 yuan and the sponsor was Founder Securities Co.Ltd(601901) . According to the announcement, the initial public offering of offline placement restricted shares will be listed and circulated on January 14, 2021. The IPO of some restricted shares will be listed and circulated on July 14, 2021, with an opening price of 27.62 yuan and a closing price of 28.71 yuan. At this time, it has not yet experienced the implementation of the distribution of cash dividend of 0.62 yuan (including tax) per 10 shares in 2020 (implemented on August 5, 2021). On the whole, the income of restricted shareholders is obviously less than that of retail investors who wave numbers at the beginning.
