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Capital Market News from Caijing.com On the night of February 1, the Shenzhen Stock Exchange issued a letter of concern to Leyard. A few days ago, Leyard released his annual performance forecast for 2020. The forecasted loss for the full year ranged from 830 million yuan to 1.1 billion yuan, and the goodwill impairment was planned to accumulate from 1.25 billion yuan to 1.45 billion. million yuan. A lot of deterioration of goodwill prepares to “take a great bath.”
According to public information, Leyard was established in 1995 and initially focused on the LED display business. In March 2012, it was listed on the growth business market of the Shenzhen Stock Exchange. After going public, the company merged and actively expanded its business design to include smart displays. night travel economy and cultural tourism Four major areas of new formats and virtual reality. As of the third quarterly report of 2020, Leyard’s net goodwill value was 2.35 billion yuan, of which the goodwill of domestic subsidiaries was 1.093 billion yuan and overseas was 1.257 billion yuan.
On the evening of January 28, Leyard announced his annual performance forecast for 2020. The net loss attributable to shareholders of publicly traded companies for the entire year is expected to be 830 million yuan to 1.1 billion yuan. , and profit for the same period last. year will be 704 million yuan, a year-on-year decrease from 217.91% to 256.26%.
Regarding the reasons for changes in performance, Leyard said that in the overseas display business, hit by the epidemic, revenue is expected to decline by 30% -40% year-on-year, and profit net decrease by approximately 650% year-on-year. This is mainly due to the large amount of goodwill in the United States Pingda Deterioration: In terms of domestic business, the epidemic still has a large impact on the economy of overnight travel. Coupled with the overlapping impact of the government’s deleveraging policy In recent years, the company’s revenues and profits have fallen dramatically, leading to a large deterioration in goodwill; The cultural tourism business was also affected by the epidemic and the government’s deleveraging policy, and its performance did not meet expectations, leading to a deterioration in goodwill. . Leyard predicts that a total of 1.25 billion to 1.45 billion yuan will be required for the impairment of goodwill in 2020.
It is worth mentioning that in the semi-annual report published at the end of August 2020, Leyard stated that the risk of impairment of the goodwill of national subsidiaries is as follows: “It is expected that there will not be a significant impact on the performance of national companies, and the risk of impairment of goodwill is relatively high. low. “As the annual report predicts” wind breaks, “the economic business of domestic night travel and the business of cultural tourism plan to accumulate a large amount of goodwill deterioration.
The Shenzhen Stock Exchange issued a letter of concern requesting Leyard to supplement the specific composition of the group of assets involved in the expected impairment of goodwill in 2020, the specific reasons for the impairment of relevant goodwill in the current period, and the specific moment in which the impairment is recorded appeared, explaining the adequacy and rationale of the provision for impairment of goodwill in the current period, if it complies with the relevant regulations, and if there is a “large bath” in which they accrue collectively large amounts of provisions for impairment of goodwill.
After this provision for impairment of goodwill, Leyard still has a goodwill of 900 million to 1,100 million. The Shenzhen Stock Exchange requested Leyard to supplement the specific situation of the relevant asset group and signs of impairment of goodwill, and whether the relevant risks had been fully disclosed.
In addition, on December 3, 2020, Leyard’s actual controlling and controlling shareholder Li Jun and his concerted actors Li Dongying and Yang Yani revealed through Leyard’s “Concise Report on Equity Changes” that Li Jun, Li Dongying and Yang Yani as shareholders of Leyard with more than 5% of the shares, during the period from September 8, 2016 to December 2, 2020, due to concentrated bidding operations and block operations, non-public share issuance and conversion of passively diluted convertible corporate bonds, etc. , the company’s total participation ratio went from 35.08% to 29.28%, a cumulative decrease of 5.8%.
On December 27, 2020, Leyard announced that Li Jun once again reduced his holdings of 28.22 million shares through block transactions, representing 1.11% of the company’s total share capital. Because the changes in Li Jun’s stake by more than 5% were not announced in time, and Li Jun personally did not stop trading as required, the three also received a letter of supervision from the Shenzhen Stock Exchange in January 2021.
In this letter of concern, the Shenzhen Stock Exchange specifically asked Leyard to conduct a self-inspection of the performance forecast of the company’s directors, supervisors, senior managers, and shareholders who held more than 5% of the company’s stock transactions. the company in the month prior to performance. announcement, and whether there was insider trading.
