上交所问询华夏幸福：尽快披露应收账款及合同资产主要欠款方

　　在华夏幸福基业股份有限公司(华夏幸福，600340.SH)深夜预告去年净利润将亏损300多亿元后，1月29日零点刚过，上海证券交易所旋即发布问询函。上海证券交易所没有按惯例给出具体回复时间，而是要求华夏幸福收函后立即披露函件，并尽快以书面形式回复，同时履行信息披露义务。

　　华夏幸福预告业绩时表示，2021年度，华夏幸福绝大部分借款本息未能如期偿还，依据原借款协议的相关约定，计提借款利息及罚息近200亿元(最终以审计报告为准)，叠加利息资本化率下降，导致计入财务费用的利息金额增加，占整体亏损比例较高。2021年度应收账款坏账准备及合同资产减值损失对应计提金额增加，是业绩亏损的主要原因之一。

　　上海证券交易所要求华夏幸福结合各季度的债务及兑付情况，说明在去年第四季度计提大额利息及罚息的原因及合理性，前提计提是否充分、及时；结合各季度项目竣备、交房等情况，说明利息资本化率变化的具体情况和原因；结合目前债务重组进展及准则相关要求，进一步说明对该公司利率调减及罚息豁免的前提条件、金额范围及可能对该公司当期及以后年度业绩的影响。

　　问询函要求华夏幸福披露其对应收账款坏账计提、合同资产减值计提的会计政策与会计估计，说明相关系数确定的具体过程与合理性；

；结合目前债务重组计划进展，以及客户的资信情况，说明此次计提是否审慎、客观。

　　In addition, China Fortune Land Development stated in the announcement that in 2021, due to the impact of liquidity risks and other factors, the income related to the new industrial city business, the supporting residential business in the park, and the commercial real estate business will all decline year-on-year.

The inquiry letter requires China Fortune Land Development to explain the reasons for the decline in related business revenue, the prudence and rationality of previous revenue recognition, whether there is a risk of further decline, and to carry out necessary measures based on the specific development of various businesses, revenue recognition methods and future business plans. risk warning.

　　According to the performance forecast of China Fortune Land Development, in terms of the new industrial city business, the income from industrial development services recognized by China Fortune Land Development in 2021 will decline, and impairment will be accrued on the accounts receivable and contract assets of the industrial new city.

　　The announcement stated that due to the liquidity risk of China Fortune Land Development, some of the entrusted regional governments were worried about the sustainable performance of the Industrial New City area in the later stage, and suspended the relevant settlement work of the Industrial New City project. The recognition of the income from industrial development services has led to a significant drop in the income from industrial development services; at the same time, the company has comprehensively reduced investment, and the investment in new industrial cities has dropped sharply, and the progress of land consolidation and supporting facilities construction promised to enterprises in the park has lagged, resulting in the actual situation of new enterprises entering the park. The progress of landing investment has been delayed, and the delay in the progress of landing investment by enterprises has affected the start and production of subsequent industrial projects, and the settlement resources of industrial development service income have been greatly reduced. Landed enterprises have not been able to start construction in time, and enterprises that have been put into production have been slow to invest in production recently. In addition, the enterprises themselves have not expanded their investment scale due to the impact of the industrial environment. As a result, there are fewer resources for settlement of industrial development service income, and the scale of contracts for new enterprises entering the zone in 2021 will also be reduced. dramatically drop.

　　Some of the entrusted regional governments failed to collect payments as expected, and the aging of accounts receivable and contract assets increased, resulting in an increase in the provision for bad debts of the company's accounts receivable and impairment losses on contract assets.

　　In terms of the supporting residential business in the park, CFLD stated that in 2021, due to the combined influence of two factors, the real estate sales price and cost, a provision for inventory depreciation will be made for real estate projects.

The company said that due to the continuous impact of liquidity risks and the negative impact of multiple rounds of COVID-19, the implementation of the debt restructuring plan is still in the early stage, and the brand image of China Fortune Land Development’s real estate business has been seriously damaged by the liquidity risks in the early stage, and customers’ purchasing confidence has been greatly affected. The huge impact has led to prominent check-out and sales pressure, and the sales price expectation has dropped significantly.

The progress of some projects has been affected to a certain extent, and the construction period has been extended, resulting in an increase in the expected construction costs, labor costs, interest and other related costs; at the same time, the increase in raw material prices has led to an increase in the estimated cost of real estate projects.

　　In addition, CFLD believes that there are obvious signs of impairment of various commercial real estate projects. The company conducts impairment tests on various assets according to the principle of prudence, and at the same time employs an independent third-party assessment agency to conduct a preliminary assessment and accrue impairment losses; Real estate development projects are unable to pay the final payment of the land price of the acquired projects on time, and as a result, related overdue interest is incurred, and it is expected that certain projects will not be able to recover the deposit due to the termination of the land use right transfer contract, increasing the loss.

　　In particular, the Guangzhou Swantan Landmark Project, which was auctioned by CFLD at a reserve price of 6.839 billion yuan in June 2020, has received the "Notice of the Guangzhou Municipal Bureau of Planning and Natural Resources on the Termination of the Land Transfer Contract and its Change Agreement". The paid contract deposit of 1.3678 billion yuan is expected to be irrecoverable.