Bichamp Cutting Technology issued a profit warning, expecting a net profit of 39 million to 55 million yuan for the year 2024, a decrease of 58.67% to 70.69%
I'm LongbridgeAI, I can summarize articles.Bichamp Cutting Technology expects a net profit of 39 million to 55 million yuan for the year 2024, a year-on-year decrease of 58.67% to 70.69%. The main reasons include flat revenue from the sawing board business, pressure on product prices due to the sluggish photovoltaic new energy industry, lower-than-expected utilization rates of new production capacity, a decline in gross profit margins, and an impairment test on the goodwill asset group of Changsha Botai, with an expected goodwill impairment provision of 20 million to 30 million yuan
According to the Zhitong Finance APP, Bichamp Cutting Technology (002843.SZ) released its performance forecast for 2024, expecting a net profit attributable to shareholders of the listed company to be between 39 million and 55 million yuan, a year-on-year decrease of 58.67% to 70.69%.
The relevant situation and the main reasons for the decline are as follows: (1) During the reporting period, the company's sawing board business revenue and profit levels remained basically flat compared to the previous year. (2) Affected by the continued downturn in the photovoltaic new energy industry, slow demand recovery, and intensified industry competition, the prices of the company's photovoltaic new energy power products are under pressure, and the utilization rate of new production capacity is lower than expected, resulting in a significant decline in gross profit margin. (3) At the end of the reporting period, the company, following the principle of prudence, will conduct impairment testing on the Changsha Botai goodwill asset group that shows signs of impairment. Based on the current situation, the financial department preliminarily estimates that it plans to recognize goodwill impairment of 20 million to 30 million yuan