Tianyang New Materials issues a profit warning, expecting a net loss of 160 million to 220 million yuan for the fiscal year 2024
I'm LongbridgeAI, I can summarize articles.Tianyang New Materials expects a net loss of 160 million to 220 million yuan for the year 2024, an increase compared to the loss of 94.2087 million yuan in the same period last year. The photovoltaic industry remains sluggish, with low component prices leading to a decrease in the net profit of the company's photovoltaic business
According to the Zhitong Finance APP, Tianyang New Materials (603330.SH) announced that the net profit attributable to shareholders of the listed company for the year 2024 is expected to be a loss of 160 million to 220 million yuan, compared to a net profit attributable to shareholders of the listed company of -94.2087 million yuan in the same period last year.
During the reporting period, the photovoltaic industry continued to bottom out, with photovoltaic module prices remaining low. The willingness of module manufacturers to operate was insufficient, leading to a mismatch in supply and demand for photovoltaic encapsulation films, intensified industry competition, and a reduction in the net profit of the company's photovoltaic business segment