Therefore, the operation risk shall be borne by itself.
It plans to issue no more than 461 million shares and raise no more than 1.35 billion yuan for 15 building decoration projects and repay bank loans.
The impact of Evergrande crisis appears Guangtian group has a leading market share in the field of batch residential fine decoration.
and other listed companies disclosed that the performance in the third quarter of this year would decline year-on-year or even lose money, among which Guangtian group had the largest loss.
As of June 30, 2021, the company’s short-term loan balance was 1.862 billion yuan, the balance of accounts payable also showed an upward trend year by year, and the company’s asset liability ratio is also higher than the average and median value of comparable companies in the same industry.
Among them, about 30% of the funds raised will be used to repay the loan.
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At the same time, relevant fixed operating costs occur normally, resulting in losses.
The contents mentioned in the article are for reference only and do not constitute substantive investment suggestions.
Ruihe Co., Ltd.
At present, the company has suspended undertaking projects of Evergrande group and its member enterprises, and has taken shutdown and loss reduction measures for non cash collection projects of Evergrande group and its member enterprises.
At the same time, due to the price rise of some decoration raw materials, the gross profit margin of the decoration plate was adversely affected, resulting in the decline of the company’s net profit.
This measure led to a decrease in the business volume of the company’s decoration sector in the reporting period compared with the same period of the previous year, resulting in a decrease in the company’s net profit.
In addition to Guangtian group, a number of listed decoration companies have disclosed their business with Evergrande group.
The third quarter’s performance generally suffered losses in advance On the evening of October 14, Guangtian group, Ruihe Co., Ltd., Baoying Co., Ltd.
Many listed decoration companies are expected to suffer losses in the third quarter of this year.
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It is reported that in recent years, the company has also focused on developing customers such as CSCEC, China Resources Land, China Merchants Shekou, country garden, COFCO, excellence, Suning, poly, etc., forming a diversified development trend of key customers and effectively controlling the risk of single customers.
In April this year, Guangtian group disclosed its non-public offering plan.
Industry leader Golden Mantis disclosed in the semi annual report that the company has suspended undertaking projects of Evergrande group and its member enterprises, and reached a purchase asset compensation solution for nearly 1.8 billion yuan of commercial acceptance bills receivable.
With the promotion of the company’s big customer and big project strategy, the company’s operating revenue to other customers except China Evergrande group will continue to grow.
On September 3, Guangtian group’s fixed increase was accepted by the CSRC, and the latest reply was made.
In addition, the exchange also inquired about the impact of Evergrande group’s debt crisis on listed companies.
In addition, Ruihe shares disclosed that the company would make a profit of 6.1393 million yuan – 30.6966 million yuan in the first three quarters of this year, a year-on-year decrease of 75% – 95%, including a loss of 22.5815 million yuan – 47.1388 million yuan in the third quarter.
It is predicted that Guangtian group will lose 18 million yuan – 26 million yuan from January to September this year, including 61.7707 million yuan – 69.7707 million yuan in the third quarter.
Although the first largest customer was not directly named in this performance forecast, referring to the disclosure in the 2020 annual report, China Evergrande group is the first largest customer of Guangtian group, contributing about 45% of the sales of listed companies last year, reaching 5.5 billion yuan.
Guangtian group pointed out that the two sides have formed a good communication system and tacit partnership in their long-term cooperation, which makes China Evergrande group prefer to cooperate with the company under the same conditions during bidding, and the business of both sides has a certain stability and sustainability.
Guangtian group may have noticed and prevented the Evergrande crisis.
In its reply, Guangtian group said that after excluding the business of Evergrande group, the company still has sustainable profitability, and pointed out that with reference to peer listed companies and industry models, the perennial cooperation between the company and Evergrande group is reasonable, but does not constitute a single dependence.
In this regard, the company said that since the third quarter of this year, affected by the debt risk of the company’s largest customer, some of the projects undertaken by the company were forced to shut down, resulting in a significant decline in the company’s output value and gross profit in the third quarter.
In the semi annual report, the company also pointed out to strengthen project management and control, continue to optimize the system and process throughout the life cycle of the project, strengthen settlement and collection, sort out the company’s operation and management mode, and prevent business risks.
Note: it comes from the securities times.
In terms of financing structure, Guangtian group has raised funds mainly through short-term loans in recent years, and the interest expenditure has increased rapidly.
BAOYING also disclosed that since the third quarter of 2021, some projects undertaken by the company have been forced to shut down due to the impact of the debt risk of cooperative customers and the regulation of the real estate industry.
Facing the large demand for working capital brought by business development, Guangtian group is also preparing for non-public offering of shares to raise funds, optimize asset structure, improve anti risk ability, and reduce asset liability ratio and financial risk of the company.
Architectural communication media ID: jianzhong001 The impact of Evergrande’s debt risk on the performance of supply chain companies began to appear officially.
From the perspective of newly signed orders, the proportion of Evergrande group decreased year by year, from 48.13% in 2018 to 39.95% in the first half of this year; Accordingly, the proportion of newly signed orders from state-owned enterprises, central enterprises and government units increased.
pointed out that the company had business dealings with Evergrande group and its member enterprises, but recently, due to capital turnover problems, Evergrande group and its member enterprises failed to honor the commercial acceptance bills overdue, resulting in an increase in the amount of provision for impairment of accounts receivable.
However, since this year, the company’s share price has fallen by about 16% and recently closed at 2.58 yuan / share.
The company has increased the proportion of public decoration business, resulting in a loss of 54.6442 million yuan – 56.6442 million yuan in the third quarter of this year, and the profit in the first three quarters has decreased significantly year-on-year.
Compared with the first three quarters of last year, the company still made a profit of 200 million yuan.