Selling blood transfusion and making cars.
Editor’s note: This article comes from “ Future Car Daily ” (WeChat public account ID: auto-time), author: Terence Lee Nan.
Author | Li Zinan
Edit | Xu Yang
Haima Motor has successfully overcome difficulties by selling a house.
In the evening of January 16th, ST Haima issued a 2019 performance forecast. The forecast indicates that the company expects to turn losses into profit year-on-year, and the net profit will range from 90 million yuan to 130 million yuan. This means that Haima Motor, which has lost money for two consecutive years, has turned to profit, and the company may escape the risk of delisting.
Previously, Haima Motor was issued a delisting risk warning due to two consecutive years of losses in 2017 and 2018. The stock has also been changed from “Hippocampus” to “* ST Haima” for short since April 24, 2019. According to the delisting risk rules of the Shanghai Stock Exchange, if Haima Motor loses for three consecutive years, it may face the awkward situation of delisting.
In 2019, Haima’s auto business has not improved, and the company’s “shell” success is still dependent on sidelines such as real estate.
According to the previous disclosure of Haima Automobile, in 2019, the company produced a total of 28,900 vehicles of various types, a significant decline of 52.06% year-on-year; the sales of various types of vehicles totaled 29,500, a year-on-year decrease of 56.41%.
Haima Automobile announced that there are three main reasons for the company’s performance change. First, the company’s automobile production and sales declined sharply year-on-year. Second, the company conducts impairment tests on the entire vehicle inventory, backlog of inventory, and idle assets in accordance with accounting standards and accounting systems, and accrues asset impairment losses. Third, the main non-operating gains and losses are attributed to the parent’s net profit of approximately 700 million yuan. Including: the company’s wholly-owned subsidiary Haima Automobile Co., Ltd. transfers the equity of its subsidiaries Shanghai Haima Automobile R & D Co., Ltd. and Henan Haima Property Services Co., Ltd .; sells idle properties; and collects impairment receivables for separate impairment tests to recover Government grants received.
The 700 million yuan mentioned in the above announcement mainly comes from Haima Motors selling houses and selling its equity in R & D centers. Under the background of the continuous decline of the main business car building, Haima’s idle property has become another profit-making tool.
In 2019, in order to optimize and revitalize the existing assets, * ST Haima announced that it intends to publicly sell Xuanqiao Town, Nanhui District, Pudong New District, Shanghai, by means of tendering and / or entrusting intermediaries to hang out at the second-hand housing trading market at market prices. No. 40, Lane 399, Nanliu Highway, Haima Garden, No. 2-1 Jinniu Road, Longhua District, Haikou City, Hainan ProvinceReal estate.
According to the announcement of the progress of the sale of some idle properties disclosed by the company on the evening of January 16, the aforementioned Haikou City involved a total of 365 properties to be sold. As of the date of the announcement, 344 properties had been sold, and 162 million yuan had been received, which affected net profit 90.08 million yuan.
