China-Singapore Jingwei, March 29th, "The company will treat various investment behaviors very prudently, especially in the secondary market securities investment that everyone is more concerned about. The clear plan is to gradually reduce the holdings and exit at the right time." Yunnan Baiyao 3 The minutes of the investor research meeting released on March 29 showed that the company made the above statement when it was surveyed by a number of institutions on the 27th.

　　According to the records of the investor research meeting, Yunnan Baiyao responded to the follow-up planning of stock investment and other issues that in order to deal with the risks of stock trading in the secondary market and strictly control the scale of investment in the secondary market, it has been reviewed by the tenth meeting of the ninth board of directors of the company in 2021. Passed, in 2022, the company will reduce the proportion of investment in stocks, stock funds and equity funds from 15% (inclusive) of the audited net assets in the latest fiscal year to 8% (inclusive), within the limit approved by the board of directors. Within the scope, gradually reduce positions, do not continue to increase holdings, while improving the use efficiency of idle funds, strengthen the support of capital resources for the development of the main business.

The company will strengthen market analysis and research, analyze and track investment progress in a timely manner, and effectively implement relevant internal management systems to ensure the safety of company funds.

　　According to Yunnan Baiyao, in terms of investment operations in the secondary market, from the second half of 2021 to the end of the year, the company has already begun to dispose of some securities investment targets. The market value of the holdings has been greatly reduced compared to the previous period.

In the events after the balance sheet date in the notes to the 2021 annual report, the company also clearly indicated that: the price of the company's stocks changes after the balance sheet date, which may be affected by changes in the fair value of financial assets held for trading. The net profit attributable to shareholders of the listed company in the final consolidated financial statements has an impact.

Investors are advised to pay attention to investment risks.

　　Yunnan Baiyao said that in 2022, the company will continue to rationally allocate idle funds to improve the efficiency of the company's revenue and capital use.

In the field of securities investment, the general principle is to gradually reduce positions and not continue to increase holdings.

At the same time, some investment targets with long-term plans will be managed in strict accordance with the corresponding securities investment quota and risk management system.

At the same time, under the premise of fully evaluating the industrial investment needs and investment risks, and guided by the company's 1+4+1 strategy, the company will actively carry out industrial investment mergers and acquisitions and primary market investment, and promote strategic cooperation and resource integration between upstream and downstream of the industrial chain. Realize business empowerment and strategic layout through investment, and help the implementation of the company's overall strategy.

　　Yunnan Baiyao also stated that the company's purpose for securities investment with its own idle funds is always to improve the use efficiency of idle funds. , will not affect the company's daily operations and main business.

The company will treat various investment behaviors very prudently, especially in the secondary market securities investment that everyone is more concerned about.

　　Recently, Yunnan Baiyao's loss of nearly 2 billion in stocks has attracted attention.

　　On March 25, Yunnan Baiyao disclosed its 2021 annual report.

The report shows that the net profit attributable to the parent in 2021 will be 2.804 billion yuan, a year-on-year decrease of 49.17%, almost halved.

According to Wind data, the last time Yunnan Baiyao experienced a decline in net profit attributable to its parent was in 1995, with a drop of 26.15%.

This means that this is the first time that Yunnan Baiyao has experienced a decline in net profit attributable to its parent in more than 20 years.

　　Yunnan Baiyao mentioned in its annual report that the current period was affected by the investment income of financial assets and the income from changes in fair value, resulting in the net profit being lower than the net cash flow from operating activities.

Judging from the disclosed data, during the reporting period, Yunnan Baiyao lost as much as 1.929 billion yuan from changes in fair value.

Simply put, the company is losing money.

　　Specifically, the investment situation of Yunnan Baiyao Securities involves domestic and foreign stocks and bonds, and 6 of the 9 domestic and foreign stocks reported losses, including Tencent Holdings, Xiaomi Group, Hengrui Medicine, etc. .

　　Yunnan Baiyao also mentioned in its annual report that changes in the price of the company's stocks after the balance sheet date may result in changes in the fair value of financial assets held for trading, which may affect the net profit attributable to shareholders of the listed company in the company's consolidated financial statements at the end of the first quarter. Profits have an impact.

At present, the company is gradually reducing its positions and will not continue to increase its holdings.

(Sino-Singapore Jingwei APP)