KinLong expects a profit warning, with a net profit for the fiscal year 2024 projected to be between 90 million and 120 million yuan, a decrease of 62.96% to 72.22%
I'm LongbridgeAI, I can summarize articles.KinLong released its 2024 performance forecast, expecting a net profit of 90 million to 120 million yuan, a year-on-year decline of 62.96% to 72.22%. The construction industry is undergoing a deep adjustment, and domestic market demand is declining. Although the overseas market has seen some growth, the overall scale is relatively small. It is expected that operating revenue will decline by approximately 14%-15% year-on-year, and impairment provisions will be made, resulting in a significant decrease in net profit
According to the Zhitong Finance APP, KinLong (002791.SZ) released its annual performance forecast for 2024, expecting a net profit attributable to shareholders of the listed company to be between 90 million yuan and 120 million yuan, a year-on-year decrease of 62.96% to 72.22%.
The construction industry will still be in deep adjustment in 2024, and the demand in the domestic construction accessories market will further decline. Although there is some growth in overseas market business, the overall scale overseas is still relatively small. The company's operating revenue is expected to decrease by approximately 14%-15% year-on-year in 2024; at the same time, the company's period expenses cannot be effectively diluted. The company will make provisions for impairment losses on various assets that may occur in accordance with enterprise accounting standards, resulting in a year-on-year decline in the net profit attributable to shareholders of the listed company in 2024