Zhejiang Furun (600070): An Advance Loss Of 70 Million Yuan In The First Half Of The Year

Zhejiang Furun (600070) released its performance forecast on the evening of July 14. The company estimated that the net profit attributable to shareholders of listed companies from January to June 2022 would be - 70 million million, with a year-on-year change of - 626.68%.

Reasons: 1. The main business impact. Due to the continuous impact of intensified competition in the industry, Hangzhou taiyizhishang Technology Co., Ltd., a wholly-owned subsidiary, has fully contracted its "traditional Internet marketing business". The operating income and gross profit rate of the current period have dropped sharply, resulting in operating performance loss. Due to the repeated epidemic situation in Xinguan and the stricter epidemic prevention policies in various regions, the domestic consumption demand is sluggish, and the fund withdrawal speed of downstream customers slows down, resulting in the extension of the actual payment collection cycle. According to the current accounting policy, the credit impairment loss of some accounts receivable is about 42 million yuan. 2. The impact of non recurring profit and loss. Since January 1, 2019, the company has implemented the new financial instrument standard of "accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments" revised by the Ministry of finance. The "Shangfeng cement (000672)" stock held by the company is affected by the fluctuation of stock price, resulting in a loss of 32 million yuan due to changes in fair value, which affects the current net profit attributable to the shareholders of the listed company of about - 32 million yuan.