Huafu Color Spinning Demolition Compensation First Quarter Performance

Huafu color spinning in the demolition of the subsidiary compensation confirmation from 2014 to the first quarter of 2015, the disclosure of the annual report on March 29th evening, resulting in 2014 net profit is ugly, and 2015 a quarterly looks pretty.

Hua Fu

[0.52% Fund Research Report] in the confirmation of the relocation compensation of the subsidiary company from 2014 to the first quarter of 2015, the annual report was disclosed on March 29th evening, resulting in the 2014 net profit unsightly, while 2015's quarterly report looks beautiful.

Prior to the announcement of the company in March 24th, the subsidiary Zhejiang Huafu color spinning Co., Ltd. received a compensation fee of 39292589 yuan for the demolition of a project, and the revenue would be recognized in the first quarter of 2015 because of the delayed payment of demolition.

The company disclosed in the evening of March 29th that the company achieved net profit of 7549.31 to 100 million 657 thousand and 400 yuan in the first quarter of 2015, an increase of 50-100% over the same period last year.

The company also acknowledges that the growth of performance is due to the recognition of compensation for relocation of a project, that is, extra business income growth.

The annual report shows that in 2014, the company achieved operating income of 6 billion 130 million, down 1.72% from last year, and net profit 168 million, down 15.87% from last year.

The company intends to send 10 yuan to 0.21 yuan (including tax).

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

Special note: the financial data contained in this announcement in 2014 is only the preliminary accounting data. It has been audited by the internal audit department of the company, and has not been audited by an accounting firm, which may differ from the final data disclosed in the annual report. Investors should pay attention to the risk of investment.

1. Major financial data and indicators before and after correction

Unit: RMB yuan.

Note: the above data are listed in the consolidated statement data.

Two, performance bulletin amendment statement

Huafu color spinning Co., Ltd.

(hereinafter referred to as the "company") disclosed the performance Bulletin of 2014 in February 28, 2015 (Bulletin number 2015 to 002). The correction of this performance report is revised on the operating profit, gross profit and net profit attributable to shareholders of Listed Companies in the 2014 annual performance bulletin.

Operating profit decreased by 11588030.09 yuan compared with the performance bulletin, and the total profit decreased by 43910922.34 yuan compared with the earnings bulletin. The net profit attributable to the listed shareholders decreased by 32777696.33 yuan compared with the earnings bulletin.

The main reason for the discrepancy is the Announcement No. 2014 - 062 "Zhejiang Huafu color spinning Co., Ltd., in the announcement of the subsidiary's signing of the monetary compensation agreement for demolition", the income of the compensation money for the demolition of a project is 39292589 yuan, and the income will be recognized in the first quarter of 2015 due to the delay in the collection of the demolition.

The board of directors apologized for the inconvenience caused by the correction of the performance bulletin.

Three. Reference documents

1. A comparative balance sheet and profit statement signed and sealed by the current legal representative of the company, the person in charge of the accounting work, and the person in charge of the accounting institution (the accountant in charge).

2. The internal audit report signed by the head of the internal audit department.

Notice hereby.

Board of directors of Huafu color spinning Limited by Share Ltd

March 24th two 15