In 2020, it is expected to lose 360 million to 690 million Omar Electric says it will terminate its financial technology business within the year
China Times (www.chinatimes.net.cn) reporter Shan Meiqi and Meng Junlian reporting from Beijing
On April 19, Omar Electric (002668.SZ) issued the “Announcement on the Revision of the 2020 Annual Performance Forecast”, which significantly lowered its expected performance. According to the announcement, the net profit attributable to shareholders of listed companies is between -360 million yuan and -690 million yuan, a year-on-year decrease of 775.41% to 1394.68%. The net profit after deducting non-recurring gains and losses is between -338 million yuan and -668 million yuan. Between yuan, a year-on-year decrease of 2044.94% to 3945.00%.
During the reporting period, the company’s total assets amounted to RMB 9,221,137,100, an increase of 5.08% from the beginning of the year; the owner’s equity attributable to shareholders of the listed company was RMB 2,220,401,200, a decrease of 13.04% from the beginning of the year; the net asset per share attributable to shareholders of the listed company was RMB 2.05, which was RMB 2.05. At the beginning of the year, it dropped by 13.14%.
Omar Electric stated that the performance revision was due to the company’s strategic adjustments and in accordance with the “Accounting Standards for Business Enterprises” and the company’s relevant accounting policies. As of December 31, 2020, the company’s various receivables, inventories, fixed assets, and intangible assets have been adjusted. Such assets have undergone a comprehensive inventory and adequate evaluation and analysis, and after re-testing for impairment, supplementary provision for credit risk losses, intangible asset impairment reserves and changes in liabilities.
Regarding the performance loss, Omar Electric said that Omar Refrigerator’s performance has grown well. However, due to the company’s transfer of 49% of Omar Refrigerator’s equity during the reporting period and the completion of the industrial and commercial changes, the company’s combined ratio of Omar Refrigerator’s performance has dropped from 100% to 51%, making this year The net profit of Omar Refrigerators was reduced.
In particular, the company mentioned the performance fluctuations of the financial technology sector. Omar Electric pointed out in the announcement that the company’s financial technology sector continued to carry out in-depth structural optimization and adjustment this year and achieved initial results. However, due to the continuing impact of the epidemic, operating income has dropped significantly year-on-year, gross profit has fallen sharply, and there is limited room for compression of expenses during the period. At the same time, taking into account the impact of the financial macro environment, the company’s operating risks and the adjustment of the company’s strategy, starting from the principle of prudence, the provision for expected credit risk losses on accounts receivable and other receivables has been affected by many factors that have caused the The net profit of the financial technology sector attributable to the parent dropped significantly in 2015.
In response, the company conducted a comprehensive impairment test on the accounts receivable of subsidiaries in the financial sector, and made up for the expected credit risk loss of RMB 190,568,800; estimated the recoverable amount of intangible assets in the financial sector, and made up for asset impairment. The loss was RMB 43,652,400; the company evaluated the repayment ability of the guarantor, and made up the estimated debt of RMB 157,433,700.
The reporter noticed that along with the announcement of the performance forecast amendment, there was also an announcement on the resolutions of the 47th meeting of the fourth board of directors of Omar Electric. This announcement passed the “Proposal on the Establishment of a Working Group for the Termination of Operation and Asset Disposal of the Financial Technology Business Sector.”
The company also stated that it intends to complete the termination of operations and asset disposal of the financial technology business segment within 2021. The reporter of this newspaper also sent an interview outline to the company on the current disposal progress and expectations during the year, but the other party did not respond as of press time. .
According to the 2020 semi-annual report, Omar Electric’s financial technology business includes three major business segments. They are financial and industrial equity investment, including Changzhi Bank, Internet small loans, etc.; products and technical services, including smart POS projects and computer cloud platform projects; loan assistance business mainly focuses on the development of stock assets in response to customer overdue phenomena in 2018 Recycling.
It is worth mentioning that in the first half of 2020, Omar Electric’s financial technology business achieved operating income of 11.4021 million yuan, a year-on-year decrease of 95.75%; net profit attributable to shareholders of listed companies was 132 million yuan, a year-on-year decrease of 724.94%; Omar Electric The revenue of two businesses, including information and technical services of electrical appliances, and rental of smart POS machines, were both zero.
As early as 2015, Omar Electric announced its entry into the financial technology field. Last year, due to continued losses, it had divested part of its financial technology business and sold 100% of its equity in Zhongrong Jin in May last year.
Zhongrong Jin is an important layout of Omar Electric’s financial technology. It is mainly engaged in banking Internet financial platform technology development services and joint operations, self-operating Internet P2P platforms, and mobile Internet financial marketing services. However, the P2P platform “Haodaibao” operated by its subsidiary announced its withdrawal in June 2019. As of the end of December 2018, Haodaibao has completed all repayments and has not launched any new business.
Omar Electric also stated in this announcement that it will focus on refrigerator manufacturing as its main business in the future. Judging from the 2020 semi-annual report, Omar Refrigerator, the main business entity, contributed almost all of the revenue of the listed company. In the first half of the year, Omar’s home appliance industry achieved a revenue of 3.572 billion yuan, accounting for 99.58% of the total revenue. The home appliance industry’s revenue accounted for 99.58% of the company’s overall revenue. During the reporting period, the company’s holding subsidiary Omar Refrigerator achieved a net profit of 186 million yuan attributable to its parent.
On March 31, Omar Electric’s shareholder TCL Home Appliances Group once again increased its stake in the company by 2.96%. At present, TCL Home Appliances Group and its concerted actors Chongqing Zhongxin Rongze Investment Center (Limited Partnership) held a total of 24.05% of the company’s shares. , Became the largest shareholder.
It is worth mentioning that all the shares of listed companies held by Zhao Guodong, chairman of Omar Electric in December 2015, were frozen by the judicial system and the judicial waiting list, and I was also restricted from consumption. At the same time, all the shares held by Zhao Guodong are still in a judicial freeze state and are still being auctioned gradually.
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