Jiangsu Linyang Energy Co., Ltd. 2020 Annual Performance Growth Forecast Announcement

Notice No. Lin 2021-05

Stock Short Name: Linyang Energy

Stock Code: 601222

Bond Short Name: Linyang Convertible Bond

Bond Code: 113014

Debt/Equity Swap Short Name: Linyang Debt/Equity Swap

Swap Code: 191014

 

The Company and all members of the Board of Directors guaranteed that the information disclosed contains no misrepresentations, misleading statements or material omissions, and shall bear joint and several liabilities for the truthfulness, accuracy and completeness of the information disclosed.

Important Reminders:

1. Jiangsu Linyang Energy Co., Ltd. (hereinafter referred to as the “Company”) is expected to achieve a net profit attributed to its shareholders between 980 RMB million and 1.120 RMB billion in 2020, which will increase between RMB 280 million and RMB 420 million compared with the same period last year, with an increase between 40% and 60%.
2.  Net profit attributed to shareholders after non-recurring gains and losses deduction is between 951 million yuan and 1.086 billion yuan. Compared with the same period last year, it will increase between 272 million yuan and 407 million yuan, with a year-on-year increase of between 40% and 60%.

I. Performance forecast for this period

1.  Performance forecast period

From January 1, 2020 to December 31, 2020.

2.  Performance Forecast

1)According to the preliminary calculation of the financial department, it is expected that the net profit attributed to the shareholders in 2020 will be between 980 million yuan to 1.120 billion yuan, which will increase by between 280 million yuan to 420 million yuan compared with the same period last year, with an increase between 40% and 60%.

2) Net profit attributed to shareholders after non-recurring gains and losses deduction is between 951 million yuan and 1.086 billion yuan. Compared with the same period last year, it increases between 272 million yuan and 407 million yuan, with a year-on-year increase between 40% and 60%.

3)The performance forecast data has not been audited by certified public accountants.

 II. Performance in the same period of last year

1. Net profit attributed to the shareholders: RMB 700 million; net profit attributed to the shareholders after non-recurring gains and losses deduction: RMB 679 million.

2.  Earnings per share: 0.40 yuan.

 III. Main reasons for the performance growth in 2020

1.  The impact of main business

1) During the reporting period, the company seized market opportunities closely, leading to rapid increase of the overseas orders. Besides, due to the optimization of product structure, the gross profit margin increased, which promoted performance growth.

2)During the reporting period, the company’s EPC PV system integration business continued to be carried forward, and the project management abilities steadily improved. A number of photovoltaic power station projects were on-grid one after another, and the income of EPC increased accordingly.

2.  The impact of non-recurring gains and losses

During the reporting period, the company’s non-recurring profits and losses increased compared with the same period last year, which was mainly caused by the increase in government subsidies received by the company, but it had no significant impact on the company’s performance growth.

 IV. Risk reminder

Certified public accountants have not audited the company’s performance forecast and not issued special remarks on appropriateness and prudence of it. There is no significant uncertainty affecting the accuracy of the performance forecast.

 V. Other notes

The above forecasting data is only preliminary data. More specific and accurate data shall be subject to the audited 2020 annual report officially disclosed by the company. Please pay attention to the investment risk.

 

Here by notify the above

Jiangsu Linyang Energy Co., Ltd.

Board of Directors

January 27, 2021

 

 


Post time: Jan-29-2021

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