YOUNGOR Corrections Performance Forecast Increased From 8 Billion 680 Million To 750 Million In The First Quarter.

In April 28th, YOUNGOR group Limited by Share Ltd released the 2018 first quarter performance notice corrections announcement, announced that once again verified, the first quarter of 2018, the company's performance is expected to be reduced by about 75000 yuan, or 60% lower than the same period last year.

According to the viewpoint, the new media access notice, the main reason for the pre reduction of the current performance is that the real estate sector has no centralized delivery projects during the reporting period, and the net profit of the shareholders attributable to the listed companies is 5148.01 yuan, which is 86.58% lower than that of the same period last year. The net profit of the investment business belonging to the shareholders of the listed companies was 185 million 489 thousand and 300 yuan during the reporting period, which was 47256.36 yuan less than the same period last year. The main reason is that the investment income from the disposal of financial assets decreased by 397 million 665 thousand and 700 yuan compared with the same period last year.

The main reason for the correction is that, according to the written opinions of the accountants, the accounting method of CITIC shares should be abolished and the investment be continued to be calculated on the available financial assets.

It is reported that in April 10th, YOUNGOR disclosed the announcement of the first quarter earnings growth in 2018, the company's performance is expected to increase by about 8 billion 680 million 460 thousand yuan, an increase of about 687.95% over the same period last year.

At that time, YOUNGOR explained that the main reason for the increase in performance was the effect of non recurring gains and losses.

The company's earnings growth is mainly due to the impact of non operating profits and losses: since March 29, 2018, the company has changed the accounting method of CITIC shares from the sale of financial assets to long-term equity investments, and has recognized the gains and losses by the equity method. The difference between the net assets and the book value of the corresponding net assets held by the company is 9 billion 302 million 108 thousand and 400 yuan, which will be included in the first quarter of 2018, and the net profit of the current period will be increased by 9 billion 302 million 108 thousand and 400 yuan.

As a result of the change in accounting method of CITIC share, the investment business realized a net profit of 9 billion 667 million yuan attributable to shareholders of listed companies, an increase of 9 billion 21 million yuan over the same period last year.