Hunan, Hubei and other conditions to sell assets fell

Recently, Hunan, Hubei (002306.SZ) announced amending the first half results previously forecast, originally expected in a quarterly net profit attributable to shareholders of listed companies about 50 million ~ 60 million yuan, and now only the remaining 8 million to 18 million yuan To the first quarter of Hunan, Hubei and attributable to shareholders of listed companies there are still 36.04 million yuan net profit.

For the reason that the net profit of Hunan, Hubei and Hubei Provinces have changed drastically, except for the main business changes such as the catering business, the main factor turned out to be the setback in the sale of related assets. A catering listed company should rely on selling assets in order to achieve profitability. In the national anti-corruption, restrictions on "three public spending" and other factors, the dismal operating high-end catering business can be seen. The relevant person in charge of Hunan, Hubei and Hubei told the reporter of "First Financial Daily" frankly that the disposal of assets has been lengthened due to the fact that the related assets sold met some difficulties and required further negotiation with the buyer on the price.

Since last year, in order to turn losses into profits, the Hunan, Hubei and Hubei Provinces turned losses into profits in the first quarter of this year through the acquisition of environmental protection companies, the closure of restaurants and the acceleration of asset disposal. At last, after losing a net loss of 564 million yuan to the shareholders of listed companies, Net profit of the company's shareholders was 36.04 million yuan.

As for the performance change, the Hunan, Hubei and Hubei said in the announcement that the main revenue from the Hunan, Hubei and Hubei Provinces came from the catering business, while the catering business belonged to the retail business. There were a large number of factors that could affect the realized income of the Company's revenue. As a result, A certain deviation is predicted.

In addition, asset disposal frustration also led to bias performance forecast. According to the announcement of the Hunan, Hubei and Hubei Provinces, during the process of strategic transformation, the disposal of assets may have certain non-recurring gains and losses. During the reporting period, the progress of disposal of some assets was lower than the planned schedule. Among them, the main influence factor is that according to the assets disposal plan formulated by Hunan, Hubei and Hubei Provinces in early 2014, it is planned to dispose the wholly-owned subsidiary Hubei Xiangfan Food and Beverage Investment Co., Ltd. According to the preliminary evaluation results, the disposal of Hubei, Hubei, Hubei and Hubei Provinces will generate about 45 million Yuan The earnings of Renminbi and the performance of the Hunan, Hubei and Hubei Province disclosed in the first quarterly report include the proceeds but the lower-than-expected disposal of the assets led to the deviation of the Hunan, Hubei and Hubei sentiments on the performance forecast for the first half of 2014.

As the notice of the net profit attributable to shareholders of listed companies and previously forecast net profit gap of about 3200 ~ 5200 million, and pending the Hubei Hubei Hubei Eritrea valuation of 45 million equivalent. Obviously, the failure of the Hubei, Hubei, Hubei and Hubei Province assets to sell off in the second quarter led directly to a decline in profits.

The official responsible for the Hunan, Hubei and Hubei Provinces told reporters that the catering business still failed to improve rapidly and dragged down the performance. However, the newly acquired environmental protection company failed to reflect its contribution to performance in the second quarter due to lagging orders and other factors. However, In particular, the Hubei Xiangfan Food Investment Co., Ltd. assets disposal, the price is still under negotiation, so the proceeds of the disposal of assets failed to be included in the first half.

In fact, since the catering industry has not seen any significant improvement this year, especially since the Central Government continued to insist on and intensified its anti-corruption efforts, the high-end restaurant performance that originally targeted public service consumption has been difficult to recover. However, it still takes time to develop new consumer groups. Although its fast-food group meal business has developed smoothly and continues to gain a bigger market share, it is still cultivating its products and contributing to the performance of Hunan, Hubei and Hubei Provinces. Under such circumstances, the Hunan, Hubei and Hubei regions have opted to speed up the divestiture into a loss-making restaurant business and transform themselves into environmental protection and Internet companies. This cross-border diversification was once questioned by the industry and its prospects are worrisome. However, even if the future prospects of these businesses are good, it is still hard to carry the banner of the listed company in Hunan, Hubei and Hubei Province within a short period of time. The performance of Hunan, Hubei and Hubei Province may still have to go through a period of shock.