Performance appeared oolong, flying music sound 2017 net profit dropped 80%

Last night (12), late (12) night, the late undisclosed performance of the 2017 annual performance of the music sound finally issued the annual performance forecast in 2017, but unexpectedly, the announcement also burst out the performance oolong.

In 2017, the company's net profit is expected to be 50 million yuan to 56 million yuan, which is expected to be reduced by 295 million yuan to 301 million yuan, and more than 80% year on year.

At the same time, accounting errors in the 2017 annual report and the three quarterly report will lead to a reduction of 1 billion 740 million yuan in revenue in the 1-9 month of 2017, and a 750 million yuan in 1-6 month revenue in 2017. The company will correct the 2017 annual report and the three quarterly report.

The company said that the reason why the performance pre reduction is due to the tightening of PPP policy and the impact of product upgrading in the lighting industry, the company's wholly owned subsidiary, Beijing Shen An Investment Group Co., Ltd. and the company's wholly owned subsidiary, Shanghai Yaming Lighting Co., Ltd. this year has a relatively large decline compared with the same period of the previous year.

Specifically, in 2017, Shengan group engaged in the PPP project related policy changes, the company part of the PPP project process slowed or terminated, for example, the "smart Taijiang" project was cleared after the storage, "wisdom along the river" project multiple applications into the PPP project library have been returned. Therefore, Shen An group withdrew from the construction of the above projects and reduced the previously identified income, which reduced the operating income and profit scale of the Shen An Group, which fell compared to the same period last year.

In addition, in accordance with the company's policy of reducing the value of the company, the company's readiness for the devaluation of receivables and the preparation for inventory fall is 231 million yuan, an increase of 220 million yuan over the previous year.

As for the reasons for the performance of the oolong, the music acoustics explained that the company's "wisdom Taijiang" project was cleared up and the "wisdom along the river" project was returned to the PPP project repository many times after the PPP industry policy was tightened, so the company withdrew from the construction of the above project. The project has not performed the bidding procedure in time in the current period; there is a deviation in the estimate of the completion progress in some projects.

Previously, the company has found important matters to be further verified in the annual report audit work, and the stock is suspended in April 10th. After confirmation by self check, the company's stock will be resumed in April 13th.

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