002115 Sunwave Communications Co.Ltd(002115)
Securities code: 002115 securities abbreviation: Sunwave Communications Co.Ltd(002115) Announcement No.: 2022-017 Sunwave Communications Co.Ltd(002115)
Announcement of 2021 annual performance forecast and goodwill impairment risk prompt
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Expected performance of the current period
(I) performance forecast period: January 1, 2021 – December 31, 2021
(II) performance forecast
The current reporting period of the project is the same period of last year
Attributable to listed companies
Net profit loss of shareholders: 55-80 million yuan; Profit: 17.5746 million yuan
Deducting non recurring losses
Net profit after profit: 75 million yuan – 112.5 million yuan profit: 27.8298 million yuan
Basic earnings per share loss: 0.6718 yuan / share – 0.9772 yuan / share profit: 0.0245 yuan / share
The operating income is 9000000000 yuan to 1100000000 yuan and 8738054200 yuan
The operating income after deduction is RMB 9000000000-1100000000 and RMB 8662961200
2、 Communication with accounting firms
This performance forecast has not been pre audited by the accounting firm, but has been pre communicated with the accounting firm on the performance forecast, and there is no major difference between the two sides.
3、 Explanation of performance change reasons
1. The cash return or goods return of the company’s Internet advertising media business is less than expected.
The company’s Internet advertising media business mainly confirms the gross profit according to the cash return or goods return of cooperative media. The cash return or goods return of cooperative media consists of basic rebate and policy rebate. The basic rebate is confirmed every quarter, and the policy rebate is generally finally confirmed before the end of March of the next year. As usual, the company generally confirms the policy rebate through interviews with cooperative media before the end of January of the next year, so as to judge the profitability of the company’s Internet advertising media business, and then evaluate whether there are signs of goodwill impairment. In January 2022, through interviews with today’s headlines, Tencent and other major cooperative media, the company, evaluation institutions and accounting firms estimated that the policy rebate of Juwang technology in the above media in 2022 was significantly lower than expected, and there was a continuous decline in the future basic rebate and policy rebate
002115 Sunwave Communications Co.Ltd(002115)
Lower expectations.
2. Affected by the huge changes in the pattern of the Internet industry brought about by the national macroeconomic structure adjustment and the impact of covid-19 epidemic in recent two years, the overall growth of Internet advertising and marketing demand has decreased.
In 2021, the state continued to strengthen the rectification of relevant industries, and the Internet advertising investment in education and training, games, real estate and so on decreased significantly. Superimposed on the repeated impact of covid-19 epidemic in recent two years, macroeconomic downturn and other factors, the demand and confidence of Internet advertising and marketing have decreased. According to the 2021 China Internet advertising data report, Internet advertising revenue reached 543.5 billion yuan (excluding Hong Kong, Macao and Taiwan), a year-on-year increase of 9.32%, a decrease of 4.53 percentage points over the previous year.
Combined with the actual situation of the company and the changes of the industry market, according to the accounting standards for Business Enterprises No. 8 – asset impairment and relevant accounting policies, the company conducted impairment test on goodwill and various assets in the 2021 annual report. According to the preliminary calculation of the company’s financial department and evaluation organization, the future profitability of Juwang technology asset group portfolio is expected to decline. Therefore, the company plans to withdraw the impairment of goodwill of 1104.6318 million yuan generated by the acquisition of the above asset group portfolio in 2017, and the impairment of goodwill is expected to be 650-90 million yuan in the current period. The amount of the final impairment provision will be determined after evaluation and audit by the evaluation institution and audit institution with securities and futures qualification hired by the company.
The net profit of the company after deducting non recurring profits and losses is expected to be 75 million yuan to 112.5 million yuan. Among them, the mobile communication network equipment manufacturing and service business has benefited from the acceleration and popularization of 5g process, the rapid growth of overseas business and the steady improvement of profitability. The operating revenue of Internet advertising media business continued to grow, but its profitability decreased. In the future, the company will further consolidate its main business, seize the opportunity of 5g application acceleration, and continue to improve its business scale and profitability. Internet media business will speed up the adjustment of business structure according to the changes of market environment, improve the proportion of Internet advertising agency business, maintain business scale, and improve profitability and profit quality.
4、 Risk tips
1. In combination with the actual operation of the company and the changes of industry market and other factors, according to the accounting standards for Business Enterprises No. 8 – asset impairment and relevant accounting policies, the company will withdraw the impairment of goodwill in the 2021 annual report. After preliminary calculation, it is estimated that the amount of goodwill impairment accrued in 2021 will be about 650-90 million yuan. The final amount of impairment accrued will be determined after evaluation and audit by the evaluation institution and audit institution with securities and futures qualification hired by the company. Please make prudent decisions and pay attention to investment risks.
2. In 2021, the performance of Mr. Zheng Jianbo, the former head of the company and Juwang technology, was extended, and the gambling period ended
002115 Sunwave Communications Co.Ltd(002115)
The business handover has been carried out in early 2022, and some adjustments have been made to the operation and management of the giant network technology team. At present, the giant network technology business remains stable and the core business personnel are stable. If the subsequent giant network technology operators lose significantly, there may be a risk of business decline in the company’s Internet advertising business.
3. Although the existing business of Juwang technology has covered the Internet advertising business of the whole industry, the proportion of customers such as direct e-commerce, we media and games is relatively high, and the media rebate of the above business is expected to continue to decline. In the future, the company will strengthen the marketing and promotion of customers in the food and beverage, personal care and maternal and infant industries according to the change of customer delivery demand, accelerate the innovation of business model and improve the proportion of advertising agent operation business. If the company’s new operation and management team cannot adjust the business structure in time, the company’s Internet advertising business may have the risk of decline in business and profitability.
4. In recent years, with the growth of Internet advertising media business, the amount of accounts receivable of Juwang technology has increased year by year. If the business scale of Juwang technology will increase in the future, the proportion of overdue accounts receivable will increase, and bad debts will occur due to accounts receivable that cannot be recovered on schedule or cannot be recovered, which may have a certain impact on the performance, production and operation of Juwang technology.
5、 Other relevant instructions
This performance forecast is the preliminary calculation result of the company’s financial department, which has not been audited by the audit institution. The specific financial data will be disclosed in detail in the company’s 2021 annual report. Please invest rationally and pay attention to investment risks.
It is hereby announced.
Sunwave Communications Co.Ltd(002115) board of directors January 27, 2022
