*ST Middle Velvet ((000982):2019 Net Loss 2 Billion 726 Million Yuan

In April 14th, *ST 000982.SZ announced its 2019 annual performance bulletin, which achieved a total revenue of 715 million yuan, down 64.62% from the same period last year, a total profit of -27.27 billion yuan, a net loss of 2 billion 726 million yuan attributable to shareholders of listed companies, a loss of 2 billion 983 million yuan in the same period last year, and a basic loss of 1.4720 yuan per share.

1, during the reporting period, the company was affected by the continuous tension of working capital, raw material procurement was not in time, the company's orders fell sharply compared with the same period last year, resulting in a sharp increase in unit production costs, a decrease in gross profit margin compared with the same period last year, affecting the company's performance, and the company's operating income in 2019 decreased by 64.62% over the previous year.

2, during the reporting period, the company's implementation of the reorganization plan, the company's reorganization and disposal of assets losses and the stock liquidation of the proceeds of debt two will still affect the company's annual profit and loss of -16.38 billion yuan in 2019.

3, during the reporting period, the company implemented the reorganization plan, the company's internal production plants and equipment have been divestiture, the debt has basically been liquidated, the total assets of the company decreased by 84.90% compared with the beginning of the period, and the net assets increased by 203.76% compared with the beginning of the period.