On June 18, Zotye Automobile Co., Ltd. (Zodiyle Automobile, 000980) issued a revised announcement of the 2019 annual performance forecast. It is expected that the net attributable to shareholders of listed companies will be realized in 2019. The profit is a loss of about 10.8 billion yuan to 11.5 billion yuan, and the profit for the same period last year was 800 million yuan, a year-on-year decrease of 1450%-1538% (compared with the same period of the previous year); the basic earnings loss per share was 5.33 yuan/share-5.67 yuan/share, The same period last year was about 0.39 yuan per share.
Prior to January 20, Zotye Automobile announced that it expects a loss of 6 billion to 9 billion yuan in 2019, a year-on-year decrease of approximately 850%-1225%; Basic earnings per share loss of 2.96 yuan / share-4.44 yuan / share.
The announcement shows that the reason for Zotye’s performance revision is: due to factors such as the new crown epidemic, the company’s cash flow is further affected, limited by funds, and the company’s management According to the actual situation, the original resumption plan was adjusted, part of the resumption models were adjusted and the resumption of production was reduced. The recoverable amount of the production line calculated from this is lower than its book value, causing signs of partial asset impairment. According to the accounting standards, an asset impairment loss of approximately 1.33 billion yuan was added to the balance.
Zhongtai Auto stated that due to the market environment, some customers experienced credit deterioration during the reporting period, such as being included in the list of dishonesty, failing to perform legal obligations on time and being enforced by the court. In the case of poor repayment ability, the company re-estimated the future repayment ability of some receivable customers with poor credit based on the principle of prudence, and correspondingly made provision for bad debts, resulting in an increase in credit impairment by about 327 million .
Zhongtai Automobile said that due to the comprehensive influence of the above main factors, compared with the previous performance forecast, the profit has been greatly reduced, so the revised performance forecast data and the previous performance The forecast data is quite different.
On the evening of April 24, Zotye Auto disclosed its main operating results in 2019. The company’s annual operating income was 3.204 billion yuan, a year-on-year decrease of 28.3%; a net loss of 9.294 billion yuan , A significant decrease of 1261.96% year-on-year; net cash flow reached -1.017 billion yuan, compared with -2.314 billion yuan in the same period last year.
On the same day, Zotye Automobile said in another announcement that the 2019 annual report was originally expected toThe disclosure date is April 25, 2020, and the post-exposure disclosure date is June 23, 2020.
In 2020, Zotye Automobile, under the impact of the epidemic, continues to lose money. Zotye Automobile’s first quarter 2020 financial report data shows that in the first quarter of 2020, the company achieved revenue of 209 million yuan, a year-on-year decline of 94.71%; net profit attributable to shareholders of listed companies lost 417 million yuan, a year-on-year decrease of 494.1%; cash flow was- 9.62 billion yuan.
Regarding the decline in revenue and net profit in 2020, Zotye said that the main reason is the decline in sales.
For the business performance in January-June 2020, Zotye Auto’s estimated net profit attributable to shareholders of listed companies is a loss of 700 million to 1 billion yuan, a year-on-year decrease of 141.04 %-244.34%.
Zhongtai Automobile said that the performance forecast was made because of the impact of the new coronavirus pneumonia epidemic, the company began to resume work gradually, the start time was reduced, and the company’s products and raw materials logistics transportation was not Chang, sales orders have been greatly reduced, and insufficient utilization of factory capacity has led to an increase in fixed costs, which has had a significant impact on the company’s operating performance.