Guangdong Baibaolong Co., Ltd. (hereinafter referred to as "Baibaolong"), the first fashion design listed company in A shares, recently disclosed its 2021 annual performance forecast, and during the reporting period, it is expected that the net loss attributable to the shareholders of the listed company will be 1.1 billion yuan to 1.3 billion yuan.
For the main reasons for the large loss caused by the performance, Bo Baolong explained that one is affected by various unfavorable factors, the company's customers in the reporting period lost a large number of customers, sales orders fell sharply, and the operating income decreased significantly, and the second is that during the reporting period, the company based on the principle of prudence, made credit impairment losses for other receivables that occurred in the previous period, and the credit impairment loss in the current period was 1.185 billion yuan.
In response to the Shenzhen Stock Exchange's letter of concern on the evening of today (February 18), Bo Baolong explained in detail the hot issues such as the composition of other receivables listed by the debtors, the corresponding impairment amount range and basis of each receivable.
Bai Baolong said that on December 31, 2021, the carrying amount of credit impairment losses on other receivables was 1.383 billion yuan, of which 1.374 billion yuan was credit impairment for other receivables in the third stage and 1.180 billion yuan for the current period in 2021. In the third stage, there are a total of 7 other receivables debtors, of which Guangzhou Xisu Clothing Design Co., Ltd. and Chaoren Intelligent Technology (Shenzhen) Co., Ltd. owe money to the associated enterprises, due to the difficulties or suspension of operation of the 2 associated enterprises, and the loan has been overdue for many years, it is expected that it will not be recovered, and the credit impairment loss has been fully recorded in the previous period. Puning Bao Profit Textile Co., Ltd., Jieyang Puqiao District Aoya Garment Co., Ltd. (Puning Aoya Garment Co., Ltd.), Puning Aolong Garment Co., Ltd., Puning City Singh Clothing Co., Ltd. The arrears are non-operating loans of the company to these 4 suppliers, and at present, these 4 companies have all stopped production, stagnated operations, and personnel dismissal. The company has sent people to the door many times to collect fruitlessly, after multi-party verification, these 4 companies also have no effective assets and bank debts are entangled in unable to repay, based on this situation, the company out of the principle of prudence, decided to fully account for the credit impairment loss of these 4 arrears. In light of the above circumstances, it is sufficient and reasonable for the company to make a provision for the relevant credit impairment loss. The company will increase the collection of the above arrears, and will adopt judicial litigation means to collect the arrears and reduce losses according to the actual situation.
Bai Baolong also disclosed this evening that in 2021, the company achieved operating income of 148 million yuan, a sharp decline year-on-year, mainly because the company faced a variety of conditions, damaged corporate image, customer trust in the company declined, significantly reduced the company's orders, with the gradual clarity of the situation, customer orders began to flow back. At present, the company's production and operation is normal, production and management personnel are stable, production and operation funds can meet normal demand, in 2022, the company will give full play to the advantages of the original design and production capacity, will develop new clothing varieties, such as home wear, down jackets and other new varieties, while expanding the scale of production, increase sales channels. From the current operating conditions, there is no problem with the company's sustainable production and operation capabilities.
According to public information, Bai Baolong is a professional design enterprise that focuses on clothing design, while providing supporting organization production services for the company's design styles according to customer requirements, landed on the Shenzhen Stock Exchange in 2015, the company's main business is clothing design, and according to customer requirements to provide supporting production for the company's design styles, design business is the core, and production business is the supporting and extension of the design business.
As of the publication of the first textile network this evening, Bai Baolong closed at 2.67 yuan / share, up 5.12%, with a market value of 1.436 billion yuan. (First Textile Network Martin)