SFY issued a profit forecast, with a net profit of 1.324 billion to 1.45 billion yuan for the year 2024, an increase of 5%-15% year-on-year
I'm LongbridgeAI, I can summarize articles.SFY released its 2024 annual performance forecast, expecting a net profit attributable to the parent company of RMB 1.324 billion to RMB 1.45 billion, a year-on-year increase of 5%-15%. Despite the slowdown in growth of custom furniture companies due to the real estate cycle and market competition, and a decline in operating revenue, national policies supporting the renewal of consumer goods are expected to revive demand in the home furnishing industry. The company has significantly reduced financial expenses through cost reduction and efficiency enhancement measures and optimization of its debt structure, with non-recurring gains and losses expected to impact net profit by RMB 229.3551 million to RMB 280.3229 million
According to the Zhitong Finance APP, Sophia (002572.SZ) released its performance forecast for 2024, expecting a net profit attributable to the parent company of RMB 1.324 billion to RMB 1.45 billion, a year-on-year increase of 5%-15%. In 2024, due to the impact of the real estate cycle and intensified market competition, the growth rate of custom furniture companies is expected to slow down. The company's operating environment faces challenges in the short term, and its operating revenue is expected to decline compared to the same period last year. However, with the implementation of the national policy supporting the replacement of old consumer goods with new ones, the demand for home furnishings is expected to recover.
During the reporting period, the company continued to implement cost reduction and efficiency enhancement measures, focusing on improving labor efficiency and strict cost control, while further optimizing its debt structure, resulting in a significant decrease in financial expenses, with profit indicators outperforming revenue indicators. During the reporting period, the wholly-owned subsidiary sold equity in an affiliated company, leading to an increase in non-recurring gains and losses from the transaction price. The impact of non-recurring gains and losses on net profit for 2024 is expected to be between RMB 229.3551 million and RMB 280.3229 million, an increase compared to the same period last year, resulting in a year-on-year growth in net profit attributable to shareholders of the listed company