on the evening of January 3, zhongke lanxun (688332.SH) and Jinshan office (688111.SH) issued 51st and 52nd 2023 performance forecasts for a-share listed companies respectively, and both companies had good results.

The operating performance of listed companies is a prerequisite for their survival and development, which has attracted the attention of investors and the capital market. At present, the scheduled disclosure time of the 2023 annual report of the three major exchanges in Shanghai, Shenzhen and North has been released. In this month, A- share listed companies also ushered in the intensive performance forecast disclosure period.

As of 20:00 on January 3, according to statistics, 52 companies have issued 2023 performance forecasts, of which 33 are expected to increase net profit, 15 are expected to lose money, and 4 are uncertain. In terms of different industries, the performance is expected to increase in the automobile manufacturing industry, and there are also more companies in the computer, communications and other electronic equipment manufacturing industries.

over 60% performance forecast

According to statistics, among the 52 companies that have announced their performance forecasts, 33 are pre-happy, including three types: pre-increase (10), continued profit (6), and slight increase (17).

among the companies that have disclosed their performance forecasts, the mountain outside mountain (688410.SH) disclosed on the evening of January 2 is expected to have the largest increase in net profit, with the net profit attributable to the parent in 2023 being about 0.16 billion -0.2 billion yuan, up 170.1-237.63 percent year on year. The announcement said that under the further promotion of the domestic substitution policy of blood purification products, the company's operating income and profitability continued to grow.

In addition, Yunyi Electric (300304.SZ), Glacier Network (300533.SZ) and Transonic Holdings (688036.SH) all have expected net profit growth of more than 100 percent.

by industry, two of the four liquor companies that have been announced so far are Guizhou Maotai (600519.SH) and Yanjing Beer (000729.SZ). Kweichow Moutai announced that it is expected to achieve a net profit of 73.5 billion yuan in 2023, an increase of 17.2 percent over the same period last year; Yanjing Beer expects a net profit of 0.575 billion yuan to 0.685 billion yuan in 2023, an increase of 63.22 percent 94.44 percent over the same period last year; in addition, Jiangsu liquor listed company Jinshiyuan (603369.SH) has not released its estimated net profit data, but its revenue has exceeded 10 billion yuan in 2023.

the performance forecast of Haiguang Information (688041.SH) shows that the net profit attributable to the mother in 2023 is 1.18 billion yuan to 1.32 billion yuan, up 46.85 to 64.27 percent year-on-year. "The results forecast exceeded expectations, and the leading position of domestic computing power continued to be verified." Guosheng Securities commented.

From the perspective of net profit scale, there are three companies that have announced performance forecasts with net profits exceeding 10 billion yuan. In addition to Guizhou Maotai, Gree Electric (000651.SZ)'s net profit ranks second in the published performance forecast, with an estimated net profit of 27 billion -29.3 billion yuan in 2023, up 10.20-19.60 year on year. Lixun Precision (002475.SZ) expects 2023 net profit of about 10.767 billion -11.225 billion yuan, up 17.5-22.5, the third largest net profit.

Company Insurance "Shell"

Data show that 15 of the 52 companies that issued performance forecasts are expected to lose money, including three types: pre-reduction (3), slight reduction (9), and continued loss (3).

Among them, Duofuduo (002407.SZ) released the first pre-reduced performance forecast for the lithium battery industry. It is estimated that the net profit attributable to shareholders of listed companies in 2023 will be 0.56 billion -0.62 billion yuan, down 68.17-71.25 year on year.

Duofluoroduo explained that the year-on-year decline in performance was mainly due to factors such as fluctuations in the price of raw materials in the industry, intensified competition in the industry, and lower-than-expected demand from downstream customers. The price of the company's new material product lithium hexafluorophosphate has dropped significantly. Although the output and sales volume are growing normally, the company's profitability has decreased due to the decline in the overall gross profit margin of the product.

In addition, companies with a net profit decline of nearly half were International Composite (301526.SZ) and Jinjiang Shipping (601083.SH).

judging from the scale of losses, parallel technology (839493.BJ) has the largest loss among the companies that have announced their performance forecasts, with a net profit loss of about 84.5 million -81.5 million yuan. although it has increased by 26%-29%, it still maintains a sustained loss.

Among the pre-loss companies, listed companies with "stars and hats" have attracted the attention of investors and the capital market. For example, the wine company * ST Mogao (600543.SH), its three quarterly reports released at the end of October 2023, It is expected that the company's cumulative net profit from early 2024 to the end of the next reporting period may be a loss.

on the question of whether the continued loss will lead to delisting, a reporter from the Huaxia Times recently called * ST Mogao Dong Secret Office, and the other party said that it would not be delisted because the company's main revenue in the first three quarters was 0.139 billion yuan, exceeding the delisting red line of 0.1 billion yuan.

January is the intensive disclosure period for earnings announcements

What types of A- share companies will issue earnings announcements?

Taking the listing rules of the Shanghai Stock Exchange as an example, if a listed company expects that its annual operating performance and financial status will have one of the following circumstances, it shall make a forecast within 1 month after the end of the fiscal year: First, the net profit is negative; Second, the net profit has turned losses into profits; third, it has achieved profits, and the net profit has increased or decreased by more than 50% compared with the same period last year; fourthly, the lower of net profit before and after deducting non-recurring gains and losses is negative, and the operating income after deducting business income unrelated to the main business and income that does not have commercial substance is less than $0.1 billion; fifthly, the net assets at the end of the period are negative; and sixthly, other circumstances identified by the Exchange.

that is to say, this month will usher in a period of intensive performance forecast disclosure of listed companies.

What is the difference between performance forecast and forecast? Shanghai Jiucheng law firm director Xu Feng lawyer told the "China Times" reporter, performance notice is generally triggered by the above situation of mandatory disclosure, with statutory mandatory disclosure obligations; and performance express in addition to a few mandatory, tend to voluntary disclosure of information.

In addition, the "face change" of the annual report is also a hot spot in the market. At the end of 2023, the regulatory authorities announced the difference between the performance forecast of many listed companies and the actual annual report.

Take Hanbo High-tech (301321.SZ) as an example. In January last year, it predicted that the company's net profit in 2022 would be a loss of 10 million yuan to a loss of 15 million yuan, and the net profit after deduction would be a loss of 20 million yuan to a loss of 30 million yuan. However, the actual annual report shows a widening of the loss, with the audited net profit of $54.3534 million in 2022 and a loss of $74.3084 million after deducting non-attributable net profit. The company received a warning letter from the Anhui Securities Regulatory Bureau to the company and the chief financial officer at the end of December.

Lawyer Xu Feng told reporters that the gap between the performance forecast and the official financial report is too large. If there is no reasonable explanation, it may be investigated and punished by the China Securities Regulatory Commission. "But from my observation, if it is not obviously deliberately misleading, For the performance forecast is too different, the basic non-administrative punishment regulatory measures, such as warning letters, are adopted".