Kapok Co., Ltd. (000523) recently released its 2023 performance forecast, which is expected to turn losses into profits year-on-year. This is the first report card after "Guangzhou Langqi" changed its name to "Kapok Shares".
According to the preliminary estimate of the company's finance department, Kapok shares are expected to have a net profit of 53.5 million yuan and 80 million yuan attributable to the parent company in 2023, and a net profit of 30 million yuan to 45 million yuan after deducting non-profits. In the same period of the previous year, the company lost more than 70 million yuan (before restructuring).
Kapok Co., Ltd. said that in August 2023, the company completed the asset replacement procedure with its controlling shareholder, Guangzhou Light Industry and Trade Group, no longer operating daily chemical business, and transforming into the development and operation of food and beverage and cultural and creative industry parks. During the reporting period, the overall development of the company's food and beverage segment was stable. The leasing income of Guangzhou Xinshicheng Enterprise Development Co., Ltd., a subsidiary of Guangzhou, increased significantly compared with the same period last year.
It is worth noting that during the reporting period, the estimated non-recurring profit and loss of Kapok shares will be between 23 million yuan and 35 million yuan, mainly due to the company's investor claims and other litigation cases, asset restructuring matters and other reasons.
On December 24, 2021, the company received the "Administrative Penalty Decision" issued by the Guangdong Securities Regulatory Bureau. As a result, a large number of investors filed a civil lawsuit for misrepresentation against the company.
At present, the company's performance is improving, which may be good news for investor claims. Liu Peng, a lawyer from Shanghai Huzi Law Firm, reminded that the case is still in the statute of limitations, and all injured investors who held ** Kapok shares (formerly "Guangzhou Langqi")* between April 30, 2019 and September 27, 2020 and still held the ** on September 27, 2020 can file a civil compensation lawsuit against the company. Eligible investors can register through the official account "Dazhong ** Daily" (feature code: 11) to participate in the claim.