MFSP issues a profit warning, expecting a year-on-year decrease of approximately 69% in net profit attributable to the parent company for the first half of the year

According to the Zhitong Finance APP, Minfeng Special Paper (600235.SH) announced that the company expects to achieve a net profit attributable to the parent company's owners of approximately 15 million yuan for the first half of 2025, which is expected to decrease by about 33.43 million yuan compared to the same period last year (statutory disclosure data), a year-on-year decrease of about 69%.

The company's PM20 and PM22 will cease operations at the end of May and August 2024, respectively. The aforementioned machines will still be in normal operation during the first half of 2024 (with PM20 operating normally for 5 months). During this reporting period, both paper machines have already stopped production, resulting in no output, which has led to a year-on-year decrease in the company's overall production and sales volume, causing a decline in operating revenue and operating profit compared to the same period last year