The performance of Wulong, Feile audio 2017 net profit plunged 80%

Yesterday (12) evening, has not yet been disclosed 2017 annual results of the audio finally released the 2017 annual results notice, but unexpectedly, the announcement also broke the performance of oolong.

Audio announcement that the company in 2017 net profit attributable to shareholders of listed companies is expected to 56 million yuan to 50 million yuan, is expected to down 295 million yuan to 301 million yuan, down more than 80%.

At the same time, the 2017 semi annual report and the three quarterly income accounting errors, will lead to reduced revenues in 2017 1-9 months 1 billion 740 million yuan, in 2017 1-6 monthly revenue decreased by 750 million yuan. The company will make corrections on the annual report in 2017, three quarterly.

The company said, the reason why the results of pre cut, is due to the influence of the PPP lighting industry policy tightening and upgrading of products, a wholly owned subsidiary of Beijing Shenan Investment Group Limited and wholly owned subsidiary of Shanghai Yaming Lighting Co Ltd this year operating income over the same period last year there was a substantial decline.

Specifically, the 2017 Shen'an group is engaged in the PPP project related policy changes, part of the company's PPP project process is slow or termination, such as the "wisdom of Taijiang project after storage was clear," wisdom River "project several applications into the PPP project library were returned. Therefore, Shen'an group withdrew from the construction of these projects, and offset the related income after confirmation, the Shenan group operating income and profit scale reduced, compared to the same period last year decreased.

In addition, according to the company's policy for impairment, the company accounts receivable impairment and inventory impairment provision for 231 million yuan, 220 million yuan increase over the previous year.

As for the reasons for the performance of oolong, Feile acoustics explained, mainly due to the PPP industry policy tightening led to the "wisdom Taijiang project after storage was clear," wisdom River "project several applications into the PPP project library were returned, so the company withdrew from the construction of the project; the early part of revenue recognized projects there is not in the current timely perform the bidding process; part of the project to completion schedule estimates of the deviations of the.

Previously, because the company needed to further verify the major issues found in the annual report of the audit work, the stock since April 10th suspension. Through self-examination after the confirmation, the company stock April 13th resumption.

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