Wuhan Lincontrol issued a profit warning, expecting a net profit of 12 million to 17 million yuan in 2024, a year-on-year decrease of 65.40% to 75.58%
I'm LongbridgeAI, I can summarize articles.Wuhan Lincontrol expects a net profit of 12 million to 17 million yuan in 2024, a year-on-year decrease of 65.40% to 75.58%. The main reasons include a decline in demand in the commercial vehicle market leading to a decrease in sales of high-margin commercial vehicle EMS, as well as intense competition in the passenger vehicle EMS and new energy business, resulting in lower profit margins. In addition, the reduction of government subsidies related to revenue during the reporting period also affected performance
According to the announcement from Wuhan Lincontrol (688667.SH), the company expects to achieve a net profit attributable to shareholders of the listed company of 12 million to 17 million yuan for the year 2024. This represents a decrease of 32.1337 million to 37.1337 million yuan compared to the same period last year (statutory disclosure data), a year-on-year decrease of 65.40% to 75.58%.
The main reasons for the performance change are: (1) The demand in the commercial vehicle market has declined, leading to a decrease in sales of the higher-margin commercial vehicle EMS business. The market competition for passenger vehicle EMS and new energy-related businesses is intense, with lower product gross profit margins. The significant growth in passenger vehicle EMS and new energy business has limited gross profit contributions, resulting in a decline in the company's gross profit for the year. (2) During the reporting period, there was a reduction in government subsidies related to revenue