Igor turned losses by selling assets

On March 8, Eagle (002922.SZ) released the 2020 performance report and the first quarter performance forecast of 2021.

Igor’s performance report shows that in 2020, it will realize operating income of 1.402 billion yuan, an increase of 8.14% year-on-year; net profit of 51,687,200 yuan, a year-on-year decrease of 9.92%.

Igor turned losses by selling assets

Source: Screenshot of the announcement

Igor’s first quarter of 2021 is expected to achieve a profit of 108 million to 115 million yuan, compared with a loss of 3.2274 million yuan in the same period in 2020, to turn losses into profits; basic earnings per share is expected to be 0.62 to 0.66 yuan per share During the same period in 2020, the loss per share was 0.0239 yuan. Both of the announced indicators turned losses into profits.

 

Source: Screenshot of the announcement

It is worth noting that the important reason for Igor’s turnaround in the first quarter is that it successfully completed the sale of its assets in February 2021, and the impact of this sale on its net profit in the first quarter was 104 million- Between 109 million yuan.

In addition, on March 5, Igor reiterated the news of its proposed asset restructuring. Eagle intends to purchase 54.97% of the shares of Yunnan Transformer Electric Co., Ltd. by way of cash payment.

The asset restructuring plan is still in the planning stage, and GPLP Rhino Finance will continue to pay attention to relevant developments.

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