Yanghe Shares: Achieved operating income of 6.4 billion yuan, an increase of 16.7% year-on-year

Beijing, November 1 news (reporter Ma Kejia) Recently, Yanghe Shares released the third quarter of 2021 financial report, data show that the company achieved operating income of 6.4 billion yuan during the reporting period, an increase of 16.7% year-on-year; net profit attributable to shareholders of listed companies was 1.551 billion yuan, down 13.1% year-on-year. Among them, the non-recurring profit and loss items showed that the loss of trading financial assets held was 160 million.

According to the 2020 financial report of Yanghe Shares, in terms of financial investment, the company purchased a lot of real estate-related trust products, including 11 related to Evergrande, 2 related to Baoneng, including a total of 42 trust products such as Wanda and Sunac, with a total amount of about 5 billion yuan.

As for whether the investment loss is due because Evergrande cannot pay more amount, the relevant staff of Yanghe shares told the Central Broadcasting Network reporter that the Evergrande incident has basically no impact on Yanghe shares.

In reply to investors, the secretary of the board of directors said that the company's trust wealth management products involving Evergrande were issued by the trust company and had sufficient mortgages and guarantees. The underlying assets are clear and clear, the issuer is also a trust company with strong management capabilities, and all mature products have been paid in full so far, and the unexpired products pay interest normally in accordance with the agreement. The company will maintain communication with the trust company, pay close attention to the operation of the product, and if the relevant risks occur in the future, the company will also fulfill the corresponding information disclosure obligations in a timely manner according to regulatory requirements.

For Yanghe's third-quarter financial report, a number of securities companies believe that the growth is in line with expectations. Essence Securities pointed out in the research report that the rebound of the epidemic in the third quarter of 2021 (Q3) is expected to have a certain impact on the pace of sales expenses. Q3 company deducted non-net profit margin of 26.29%, an increase of 1.34% year-on-year, the level of profitability compared with previous years, mainly related to the fluctuation of tax rhythm. The Q3 corporate income tax rate increased by 7% year-on-year to 30.32%, which is expected to be mainly related to the increase in the discount allowance payable to dealers to be settled in Q3. In addition, the net income from fair value changes in Q3 was -372 million yuan, down 699 million yuan year-on-year, which dragged down the company's apparent net profit.