Termination of repurchase due to huge performance loss!In one year, Songdu shares only completed 6.15% of the lower limit of repurchase_Sina Finance_Sina.com

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　　Original title: Termination of repurchase with huge performance loss! In one year, the company only completed 6.15% of the lower limit of repurchase

　　Losing money “retreat”, cross-border lithium battery,performance“Big loss”…

On the evening of January 21st,Songdu sharesannouncementThe company is currently completingrepo6.15% of the lower limit of the pre-planned amount, for the consideration of “guaranteeing the stable operation of the company”, it was decided to terminate the repurchase plan. The company’s board of directors apologises.

On the evening of January 20, the company issued a pre-loss announcement, predicting a loss of 300 million to 400 million yuan in 2021, and a profit of 352 million yuan in 2020.

Complete only 6.15% of the minimum amount

The announcement shows that on January 28, 2021, the company disclosed the “Repurchase Report on the Repurchase of Shares by Centralized Bidding Transactions”, and plans to repurchase the company’s shares through centralized bidding transactions, and all of them will be used for the later implementation of the equity incentive plan. The repurchase amount is not less than 130 million yuan and not more than 260 million yuan. The repurchase period shall not exceed 12 months from the date of review and approval of the repurchase plan.

Up to now, the company has only repurchased 2.625 million shares, and the repurchase amount is 7,999,811 yuan (excluding transaction fees such as stamp duty and commission), which only accounts for 6.15% of the lower limit of the repurchase plan.

　　Songdu sharesIt said that on January 21, 2022, the company reviewed and approved the “Proposal on Termination of Share Repurchase” and agreed to terminate the implementation of the share repurchase plan. The board of directors of the company apologizes for the inconvenience caused to investors by terminating the repurchase before reaching the lower limit of the return plan.

For termination reasons,Songdu sharesSaid: Since the announcement of the repurchase plan, the external environment has continued to tighten, and the company’s operating environment has faced periodic challenges; since this year, the company has strengthened liquidity safety management.

In order to ensure the company’s stable operation, continue to achieve healthy development, and better play the role of capital in the company’s production and operation, the company prioritizes capital investment in the company’s main business operations and business development for the company’s sustainable development based on capital needs. Risk control On the premise of further improving the efficiency of capital use. After careful study by the board of directors, it has decided to terminate this share repurchase plan.

2021 performance forecast loss

Behind the strengthening of liquidity security management, the company’s main business is not ideal.

Songdu shares disclosed on the evening of January 20 that it is expected to lose 300 million to 400 million yuan in 2021, while the company will make a profit of 352 million yuan in 2020.

The company lost about 49.9 million yuan in the third quarter of 2021. In August 2021, Songdu shares lost 50 million yuan to return the Hangzhou land plot due to the cancellation of the cooperation by the joint development partner.

Regarding the pre-loss in performance, the company explained that in 2021, the company will conduct an impairment test on the self-owned properties built in some development projects. According to relevant regulations, this part of the property is all used for public external leasing. The company makes provision for asset impairment based on the comparison of the present value of the rental cash flow with the historical book cost, and the impairment cannot be reversed in the future.The amount to be accrued shall be returned to the parentnet profitThe impact is about -230 million to -290 million.

At the same time, due to the decrease in profits from the delivery of cooperative projects compared with 2020, it is expected to affect the net profit attributable to the parent by about -140 million to -180 million. The company’s interest income decreased, resulting in an increase in financial expenses; an increase in newly acquired projects led to an increase in administrative expenses.

Intend to try new business

While the main business performed poorly, Songdu began to try new businesses.

On the evening of January 4, Songdu Co., Ltd. announced that it plans to establish a subsidiary, Zhejiang Songdu Lithium Industry Co., Ltd., with an initial registered capital of 500 million yuan. However, the company currently has no lithium industry-related business, and does not have relevant technical reserves, relevant resources and professional teams.

This announcement made the company gain 4 consecutive boards, and the stock price rose by more than 46%. But then began to retrace, and the current cumulative retracement is 16.6%. The company’s stock price was recently reported at 3.01 yuan per share, with a market value of 4.034 billion yuan.

ChinasecuritiesThe reporter of China Securities Taurus noticed that another announcement of the company on the evening of January 4 also disclosed that Ningbo Xudu, a wholly-owned subsidiary of the company, plans to invest 30% of the Jiaxing Zhencheng Investment Partnership (Limited Partnership) held by it. All the shares were transferred to Hangzhou Theo.

Songdu Co., Ltd. stated that the above-mentioned transfer of investment shares is a real estate project that sells equity investment. It is beneficial for the company to balance the existing real estate investment layout and improve the level of capital return.

It is worth noting that the company mentioned in the announcement on the evening of January 21 that “combined with capital needs, it will give priority to investing in the company’s main business operations and the company’s sustainable business development.” At present, the real estate business is still the main business of the company, and the lithium battery that the company plans to enter is a high-prosperity industry.