CCS issued a profit warning, expecting a net profit of 50 million to 75 million yuan for the fiscal year 2024, a decrease of 74.51% to 83.01%
I'm LongbridgeAI, I can summarize articles.CCS released its 2024 performance forecast, expecting a net profit of 50 million to 75 million yuan, a year-on-year decrease of 74.51% to 83.01%. Affected by market fluctuations, the business of some joint ventures has declined, and investment income has decreased. The Shenqiu agricultural products processing plant is set to commence production in May 2024, but due to the time required for market development and brand cultivation, along with fluctuations in agricultural product prices, it has not met profit expectations
According to the Zhitong Finance APP, CCS (600180.SH) released its annual performance forecast for 2024, expecting a net profit attributable to the parent company's owners to be between RMB 50 million and RMB 75 million, a year-on-year decrease of 74.51% to 83.01%.
The business of some of the company's joint ventures is significantly affected by market fluctuations in 2024, and the investment income from joint ventures confirmed by the company has decreased compared to the same period last year; the Shenqiu Agricultural Products Processing Plant is scheduled to start production and operation in May 2024, and both market development and brand cultivation require a certain amount of time. The cost during the adjustment period of various production processes is relatively high, coupled with significant fluctuations in agricultural product prices in 2024, resulting in the processing plant not meeting profit expectations