Minmetals Capital issued a profit warning, expecting a net profit of 400 million to 550 million yuan for the fiscal year 2024, a year-on-year decrease of 76% to 82%

According to the Zhitong Finance APP, Minmetals Capital (600390.SH) announced that the company expects to achieve a net profit attributable to the owners of the parent company of 400 million to 550 million yuan in 2024, which represents a decrease of 1.706 billion to 1.856 billion yuan compared to the same period last year, a year-on-year decrease of 76% to 82%; compared to the restated financial statement data from the same period last year, it will decrease by 1.732 billion to 1.882 billion yuan, also a year-on-year decrease of 76% to 82%.

In 2024, the company's operating performance was affected by multiple unexpected factors, leading to a certain decline in performance: first, the transformation of trust business, which resulted in a change in business structure that led to a decrease in fee and commission income; second, the fair value of financial assets held by the company's subsidiaries measured at fair value and whose changes are included in the current profit and loss decreased during the period; third, the government subsidies received by subsidiaries decreased compared to the same period last year