QiFan expects a profit warning, anticipating a net profit of 135 million to 160 million yuan for the year 2024, a year-on-year decrease of 62.17% to 68.09%
I'm LongbridgeAI, I can summarize articles.QiFan expects a net profit of 135 million to 160 million yuan for the year 2024, a year-on-year decrease of 62.17% to 68.09%. Affected by reduced market demand and intensified industry competition, the company's business scale, order quantity, and product gross profit have all declined. The increase in the order payment cycle has also impacted capital costs, further squeezing profit margins
According to the Zhitong Finance APP, QiFan (605222.SH) announced that the company expects to achieve a net profit attributable to shareholders of the listed company of between 135 million yuan and 160 million yuan for the year 2024, a decrease of 263 million yuan to 288 million yuan compared to the same period last year, representing a year-on-year decline of 62.17% to 68.09%.
During the reporting period, affected by factors such as reduced market demand and intensified industry competition, the company's business scale, order quantity, and product gross profit all experienced a certain degree of decline. At the same time, the increase in the order payment cycle had a certain impact on capital costs, further squeezing the company's profit margins, resulting in a decline in the company's performance compared to the same period last year