Yunnan Chengtou reported more “deficit” in the half year: a net loss of 763 million yuan in the first half of the year

According to the semi annual report of Yunnan Chengtou (600239), during the reporting period, the net profit attributable to shareholders of listed companies was – 763 million yuan, which was 2.84% lower than that of – 785 million yuan in the same period of the previous year. Despite this, Yunnan city investment this year’s half year report is “deficit word” more. Novel coronavirus pneumonia outbreak in early 2020, according to the Yunnan city investment semi annual report 2020, has brought a great impact on China’s economy and real estate industry, and the real estate market sales growth has continued to fall.

As of June 30, 2020, the operating income of Yunnan Urban Investment Group was 2.832 billion yuan, an increase of 50.23% over the same period of last year; the net profit attributable to shareholders of listed companies was – 763 million yuan, with a loss of 2.84% compared with the same period of last year. < p > < p > at the same time, in the above-mentioned report, with the market cooling down and the comprehensive tightening of financial regulatory policies, Yunnan urban investment is facing a situation of capital shortage. The new funds and sales returns are mainly used to guarantee the repayment of financial institutions, and the follow-up development funds are insufficient. According to the above report, as of the end of the reporting period, Yunnan Chengtou used its own assets to provide mortgage, pledge and guarantee for loans from financial institutions, with a total book value of 31.769 billion yuan. < p > < p > among them, Yunnan Chengtou transferred 60% equity of Kunming Xinjiang Heda Urban Construction Co., Ltd., and the appraisal value of 60% equity of Xinjiang Heda City Construction Co., Ltd. filed by the state owned assets supervision and administration institution was 49.125 million yuan, and the final transaction price was 49.12 million yuan. As of the end of the reporting period, the industrial and commercial registration of changes has been completed, and Xinjiang Heda is no longer included in the scope of merger. < p > < p > after Yunnan Chengtou transferred 90% equity of Dongguan Yuntou Real Estate Co., Ltd., the appraisal value of 90% equity of Dongguan Yuntou Real Estate Co., Ltd. recorded by the state owned assets supervision and administration institution was 95.551 million yuan, and the final transaction price was 95.551 million yuan. As of the end of the report period, the industrial and commercial registration of changes has been completed, and Dongguan Yuntou is no longer included in the scope of company merger. < p > < p > the subsidiary company of Yunnan Chengtou transferred 80% equity of Xishuangbanna hangtou Real Estate Co., Ltd. to the outside world, the appraisal value of 80% equity of AVIC Real Estate Co., Ltd. registered by the state owned assets supervision and administration institution is 19.1606 million yuan, and the final transaction price is 19.165 million yuan. As of the end of the report period, the industrial and commercial registration of changes has been completed, and AVIC real estate is no longer included in the scope of company merger. The evaluation value of 51% equity of Xi’an Yuncheng Real Estate Co., Ltd. registered by the state-owned assets supervision and administration institution is 82.8076 million yuan, and the final transaction price is 82.8076 million yuan. As of the end of the report period, the industrial and commercial registration of change has been completed, and Xi’an Yuncheng is no longer included in the scope of merger. < p > < p > in addition, in 2020, Yunnan Chengtou started a major asset restructuring and planned to transfer the equity of 18 subsidiaries, including Tianjin Yinrun, held by Yunnan Chengtou to the group. The company will hold another meeting of the board of directors to review the relevant proposals of this reorganization after the completion of relevant audit and evaluation work. At present, the company and all parties are actively promoting the restructuring work. < / P > < p > it is worth noting that among the above four subsidiaries, Xishuangbanna AVIC investment real estate Co., Ltd. has a net loss of 37600 yuan in 2019; the audit data of Dongguan Yuntou Real Estate Co., Ltd. as of September 30, 2019 is a net loss of 5.3561 million yuan. < / P > < p > although the loss making subsidiaries mentioned above have been stripped off, according to the report in the first half of this year, there are still many subsidiaries dragging down the overall performance of Yunnan Urban Investment. < p > < p > according to the semi annual report 2020 of Yunnan Urban Investment, there are five major holding companies with losses during the reporting period, and five participating companies are reflected as losses during the reporting period. Among the main holding companies of Yunnan Chengtou, Yunnan art home real estate development and Operation Co., Ltd. achieved a net profit of – 82.5517 million yuan; Yunnan Chengtou Longrui Real Estate Development Co., Ltd. realized a net profit of – 9.0995 million yuan; and Kunming Guandu Chengzhong Village Reconstruction Real Estate Co., Ltd. realized a net profit of – 4, The net profit of Chengdu Yincheng Real Estate Co., Ltd. is – 24.2414 million yuan; the net profit of Ningbo Yintai Real Estate Co., Ltd is – 31.197 million yuan. At the same time, among the main joint-stock companies of Yunnan Chengtou, Yunnan Chengtou huashangzhijia investment and Development Co., Ltd. realized a net profit of – 92.2338 million yuan; Yunnan Wancheng Century Investment and Development Co., Ltd. realized a net profit of – 12.6646 million yuan; Yunnan Overseas Chinese City Industrial Co., Ltd. realized a return to parent profit of – 9, The net profit of Qingdao blue sky Real Estate Co., Ltd. and Yunnan Wenquan Valley real estate development (Group) Co., Ltd. is -31.2493 million yuan. < p > < p > some analysts pointed out that in the above-mentioned half year report of Yunnan Urban Investment, loss making subsidiaries are “everywhere”, and its “slimming and strengthening” may still need to be strengthened. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. 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