Shenzhen Textile A (000045): Net Profit Forecast Decrease Of 59.56% - 91.91% In The Third Quarter

Shenzhen textile a (000045. SZ) announced that the net profit attributable to shareholders of Listed Companies in the first three quarters of 2021 is expected to be 78.6 million yuan – 86.6 million yuan, with a year-on-year increase of 208.84% - 240.28%; Among them, the net profit attributable to shareholders of Listed Companies in the third quarter was 2-10 million yuan, down 59.56% - 91.91% year-on-year.

During the reporting period, the net profit attributable to shareholders of listed companies increased significantly compared with the same period of last year. The main reasons are as follows: first, the market of polarizer film continued to improve this year, the company further optimized the order structure, and the average gross profit rate increased steadily; Second, in response to the new crown epidemic in the same period last year, the company actively responded to the call of the Shenzhen Municipal Party committee and the state owned assets supervision and Administration Commission to reduce the rent of February and March 2020 for some tenants, and the rental income in this period increased significantly year on year.

The company's ultra large size TV polarizer project (line 7) is still in the climbing period after mass production in July this year. In addition, the depreciation and amortization of fixed assets lead to higher unit manufacturing cost of products; At the same time, the company increased R & D investment, which had a certain impact on the company's performance in the third quarter. With the promotion of line 7 climbing, the improvement of yield, speed and other technical indicators and capacity release will boost the company's business performance.

During the reporting period, the company estimates that the impact of non recurring profit and loss on the net profit attributable to shareholders of the listed company is about 18.89 million yuan, mainly including the liquidation income and government subsidy income of Shenzhen shenfang import and Export Co., Ltd.