CBG issues a profit warning, with net profit for 2024 expected to decline by 69.60%-77.53% to between 170 million and 230 million yuan
I'm LongbridgeAI, I can summarize articles.CBG released its 2024 performance forecast, expecting a net profit of 170 million to 230 million yuan, a year-on-year decrease of 69.60%-77.53%. The main reasons include intensified competition in the high-tech sector, a decline in product sales prices, as well as an increase in inventory impairment provisions in the real estate sector and excessive losses from certain subsidiaries
According to the Zhitong Finance APP, China Baon (000009.SZ) released its 2024 annual performance forecast, expecting a net profit attributable to shareholders of the listed company to be between 170 million yuan and 230 million yuan, a year-on-year decrease of 69.60%-77.53%.
The decline in net profit attributable to shareholders of the listed company during the reporting period is mainly due to the high-tech sector being affected by intensified competition and declining product sales prices, which has put pressure on overall profitability; it is also impacted by increased inventory impairment provisions in the real estate sector and excessive losses from certain subsidiaries