Lugang Culture (601599): It Is Estimated That The Net Loss To The Mother In 2020 Will Be About 900 Million Yuan

Lukang culture (601599. SH) announced that, according to the preliminary calculation of the financial department, the net profit attributable to shareholders of Listed Companies in 2020 is expected to be about - 900 million yuan. The net profit after deducting non recurring profit and loss attributable to shareholders of listed companies is expected to be about - 1.02 billion yuan.

During the reporting period, the textile sector and sewage treatment business of the company were relatively stable on the whole, and the business performance was basically the same as last year.

The company's film and television business has suffered a great impact due to the continuous in-depth adjustment of the industry and the impact of the epidemic situation. In order to reduce the substantial loss, the company actively negotiated with the customers to withdraw the play, withdraw the authorization and restart the release at the right time; At the same time, under the influence of regulatory policies, market platform influence, broadcast mode and price changes, the company made bad debt provision according to the credit status and collection situation of customers, and made provision for the decline in value of film and television inventory with impairment risk according to the market, project progress and subsequent plans of the company.