Sudden loss of 99percent! The company sold 16 million of assets it bought five years ago

category:Finance
 Sudden loss of 99percent! The company sold 16 million of assets it bought five years ago


The data show that beautiful ecology is mainly engaged in the nursery planting, the construction and maintenance of the landscape engineering as a whole. In 2019, the company has negative net profit audited in 2017 and 2018. According to relevant regulations, Shenzhen Stock Exchange will give a risk warning for delisting of the companys shares, and the stock abbreviation will be changed to *st beauty.

On the same day, there was also an apology announcement disclosed together with the Beatles hat wearing announcement. The announcement said that Bada gardens performance commitment in 2016, 2017, 2018 and 2019, the audited net profit attributable to the parent companys shareholders after deducting non recurring profit and loss was no less than 168 million yuan, 243 million yuan, 300 million yuan and 300 million yuan respectively. However, in fact, within three years after the major asset restructuring, the companys performance commitment was not less than RMB 168 million yuan, RMB 243 million yuan, RMB 300 million yuan and RMB 300 million yuan respectively The cumulative difference is as high as 1.5 billion.

Specifically, from 2016 to 2019, Bada garden promised to achieve a total net profit of no less than 1.011 billion, but the actual performance of the company was - 833 million. Due to the substandard performance, Meili ecological has also made a total of 1.64 billion yuan of assets impairment for Bada garden.

According to Meili ecology, as of September 30, 2020, the net value of the companys long-term equity investment in Bada garden after deducting impairment is 20 million yuan.

According to the financial data, as of June 30, 2020, the total assets and liabilities of Bada garden are 1.321 billion yuan and 1.301 billion yuan respectively. In the first half of 2020, the companys revenue was 155 million yuan and the loss was 2.4012 million yuan. As for the performance loss reasons of Bada garden, Meili ecology said in a reply to the inquiry letter of Shenzhen stock exchange that, firstly, the macro-economic downturn led to the reduction of local governments fiscal expenditure; secondly, there was uncertainty in the restructuring of Bada garden, which affected the financing capacity of Bada garden; thirdly, some key engineering projects failed to be constructed as scheduled.

Looking at the historical financial data, Bada garden accounts for a high proportion in the main business of beautiful ecology, which also directly affects the performance of beautiful ecology. In 2017 and 2018, Meili ecology lost - 1.06 billion yuan and - 732 million yuan respectively, because the company lost money for two consecutive years, and the company wore a star and hat. In other words, if we do not purchase Bada garden, we will not have a continuous loss of performance.

Take another look at the takeover party. Guizhou Xinlong was established in April 2018. Natural persons Zhou Mou Wei and Zhang Kaixuan hold 70% and 30% of the shares respectively, and Zhou Mou Wei is the actual controller of the company. Guizhou Xinlong said that the capital source of the acquisition of Bada garden was self raised by the company. Data shows that in 2019 and the first half of 2020, the net profit of Xinlong in Guizhou will be about 18900 yuan and 370600 yuan respectively.

Meili ecological said that the sale of 100% equity of Jiangsu Bada garden is based on the companys current actual operation and future strategic development needs, which is conducive to optimizing and integrating the companys existing resource allocation, focusing on core business and improving the overall core competitiveness.

After the completion of this transaction, Jiangsu Bada garden will no longer be included in the companys consolidated statements.

According to the latest semi annual report of 2020 disclosed by Meili ecology, the company realized a net profit of about 8.82 million yuan during the reporting period, but the corresponding attributable net profit after deducting non-profit was about - 3.33 million yuan, still under certain operating pressure. In this regard, Meili ecological said that the sale of Bada garden is expected to generate investment income of 25.3627 million yuan on the companys consolidated statements this year, but the final amount is subject to the audit results of the annual audit accountant. In fact, this is not the first time that Meili ecology has sold off its assets to protect its performance. In 2019, due to the sale of two wholly-owned subsidiaries of Ningbo landscape architecture design and Research Institute Co., Ltd. and Zhejiang Shenhua new ecological construction and Development Co., Ltd., Meili ecology will turn a loss into a profit in the same year and take off its hat in 2020. Source of this article: Yang Bin, editor in charge of E Company_ NF4368

According to the latest semi annual report of 2020 disclosed by Meili ecology, the company realized a net profit of about 8.82 million yuan during the reporting period, but the corresponding attributable net profit after deducting non-profit was about - 3.33 million yuan, still under certain operating pressure. In this regard, Meili ecological said that the sale of Bada garden is expected to generate investment income of 25.3627 million yuan on the companys consolidated statements this year, but the final amount is subject to the audit results of the annual audit accountant.

In fact, this is not the first time that Meili ecology has sold off its assets to protect its performance. In 2019, due to the sale of two wholly-owned subsidiaries of Ningbo landscape architecture design and Research Institute Co., Ltd. and Zhejiang Shenhua new ecological construction and Development Co., Ltd., Meili ecology will turn a loss into a profit in the same year and take off its hat in 2020.