Shanghai Sanmao (600689): Half Year Expected Loss Of 4.04 Million

On August 7, Shanghai Sanmao issued a performance forecast. The company estimated that the net profit attributable to shareholders of the listed company from January to June 2020 would be - 4.04 million, with a year-on-year change of - 138.12%. The average net profit growth rate of textile manufacturing industry was - 29.73%.

The company made the above prediction based on the following reasons: (1) impact of main business: during the reporting period, due to the impact of Xinguan pneumonia, the company's import and export trade income and gross profit decreased, resulting in an operating loss of about 500000 yuan; meanwhile, in order to jointly cope with the epidemic situation, the company moderately reduced rent for small and medium-sized enterprises meeting the conditions, and reduced the current profit and loss by about 850000 yuan. In addition, the company has made an asset impairment provision of about 2.46 million yuan for Chongqing Yimao real estate. （2） Influence of non recurring profit and loss: the company's non recurring profit and loss in the current period is about - 820000 yuan, and the main influencing factor is the loss caused by the change of fair value of financial assets held by the company.