Huamao Shares (000850): Loss In The First Quarter Of 160 Million -1.8 Billion

In April 14th, Huamao shares (000850) released the first quarter results announcement in 2020: the net profit loss is expected to reach up to 180 million yuan, down 142.51% from the same period last year.

The announcement shows that during the period of performance forecast: in January 1, 2020 -2020 March 31st, the net profit attributable to shareholders of listed companies was 160 million yuan -1.80 billion yuan, down 137.79%-142.51% compared with the same period last year.

The performance loss of the company during the current reporting period is mainly due to the impact of non operating profit and loss. It is as follows: since January 1, 2019, the company has implemented the new accounting standards for financial instruments, which will be included in the equity financial assets of Guotai Junan, GF Securities, Tuwei information and network software, which are originally included in the fair value of accounts for sale of financial assets. Accounting for production projects. During the reporting period, the return on the fair value of such financial assets decreased by 168 million yuan, which is a non recurring item.

Affected by the new crown pneumonia epidemic situation, according to the relevant regulations of local epidemic prevention and control, the company began to resume work and resume production in February 10, 2020, resulting in a year-on-year decrease in operating income in the first quarter, while the expenses of staff salaries and depreciation continued to bear, which had a certain impact on production and operation.

Statistics show that the main business of Huamao shares is textile business and investment business.