The original market value is 1.8 billion, with a huge loss of 6.2 billion deducting non-net profits. Guangzhou Langqi “washing powder” has gone again?

Make a fake one time, and use a few fakes to round.

Once labeled as “fake”, then this company will definitely be voted by investors with their feet.

Following the continuous thunderstorms last year, Guangzhou Langqi “has an accident” again this time.

On the evening of April 14, Guangzhou Langqi issued an announcement on the revision of the 2020 annual performance forecast. The content of the announcement showed that the company’s original estimated loss of 2.46 billion to 3.56 billion yuan was revised to a loss of 3.5 to 4.6 billion yuan.

The company lost one billion yuan thanks to the revisions.

I didn’t know if I didn’t check it, and I was surprised when I checked it. The financial report shows that Guangzhou Langqi has a greater loss of non-net profit, with a revised loss of 5.1 billion yuan to 6.2 billion yuan, a year-on-year decrease of 46464% to 56464%.

So, why does a company with a market value of 1.8 billion lose so much money?

The explanation given by Guangzhou Langqi is that the accountants of the company and the auditing agency believed that the revenue recognition basis of some trading businesses during the reporting period was insufficient and adjusted it.

Obviously, such a reason cannot be convinced.

Since the end of September last year, Guangzhou Langqi has played a new game of “washing powder ran away” in the capital market.

Inventories are missing. With the Shenzhen Stock Exchange’s letter of concern, there are more and more problematic warehouses, which eventually expanded from 2 to 6, and the value of disappeared inventories also increased from 572 million to 867 million.

In the face of increasingly stronger supervision, the “washing powder ran away” game is obviously not going to be played. Under the new regulations, Guangzhou Langqi can only honestly disclose “true” performance.

With the disclosure of the financial report, its net assets have also turned from positive to negative. The owner’s equity attributable to shareholders of the listed company is -23.7 billion yuan.

According to the new delisting regulations, if the net assets at the end of the audited period in the most recent year are negative, the exchange will implement a delisting risk warning for its stocks, which is commonly known as “*ST”.

In fact, since September last year, investors have voted for Guangzhou Langqi with their feet.

In just 90 trading days, its stock price fell from the highest 5.95 yuan to the lowest 1.97 yuan, a drop of more than 65%. If we stretch the long-term axis, we will find that after Guangzhou Langqi reached a high price of 21.39 yuan in 2015, it has been in a downward trend for the next six years. As of today, its stock price has only a fraction of the high.

In February of this year, Ligen Leasing applied to the Guangzhou Intermediate People’s Court for bankruptcy and reorganization of Guangzhou Langqi.

On April 6, Guangzhou Intermediate Court held a hearing to pre-reorganize Guangzhou Langqi.

Guangzhou Langqi said that if the company’s pre-restructuring is successful, the company’s debt crisis will be resolved in the future.

At present, how many problems Guangzhou Langqi still has is not clear to the outside world, but Guangzhou Langqi is not at the final dead end. In December last year, Guangzhou Langqi issued an announcement that the land to be purchased and stored is located on Huangpu Avenue in Tianhe District. East 128 has an area of ​​approximately 120,000 square meters. According to the agreement, Guangzhou Langqi will deliver all the land as required within 12 months of the signing of the agreement. Guangzhou Development Center will pay an additional 10% reward. This wave of land sales Guangzhou Langqi will receive 2.569 billion yuan in income. In the end, there are variables in the transaction, but it is not completely hopeless.

On January 23, Guangzhou Langqi issued an announcement stating that due to the 4.487 billion yuan of compensation frozen by the Guangzhou Land Development Center as required by the relevant courts, the Guangzhou Land Development Center was temporarily unable to pay the aforementioned outstanding payments. Therefore, whether Guangzhou Langqi can receive the above remaining compensation is uncertain.

On the whole, I think that if Guangzhou Langqi can successfully bankrupt and reorganize, then after clarifying the debt problem, Guangzhou Langqi can start again. With the previous book cash and some land reserves, Guangzhou Langqi is likely to have assets in 2021. Turn from negative to positive.

However, I think at the moment, being labeled as “fake” is probably the most troublesome thing after Guangzhou Langqi’s reorganization, because it may take a long time to build trust, and it only takes a moment to destroy it.

Guangzhou Langqi has consumed too many investors’ trust in it over and over again. If it is ST, then Guangzhou Langqi’s stock price is likely to fall below 1 yuan, and the delisting of the face value will also be Guangzhou Langqi. Problems that have to be faced.