Due to reduced demand in the photovoltaic thermal field, KBC expects a net loss of 776 million yuan for the year 2024
I'm LongbridgeAI, I can summarize articles.KBC released its 2024 annual performance preliminary report, with total operating revenue of 538 million yuan, a year-on-year decrease of 49.78%; net loss of 776 million yuan, and net loss of 809 million yuan after deducting non-recurring gains and losses, with a basic loss per share of 3.79 yuan. Affected by intensified competition and reduced demand in the photovoltaic industry, the company conducted asset impairment testing, recognizing asset impairment losses of approximately 550 million yuan, resulting in an operating loss
According to the Zhitong Finance APP, KBC (688598.SH) disclosed its performance report for the year 2024, with total operating revenue of 538 million yuan, a decrease of 49.78% compared to the same period last year; a net loss attributable to the parent company's owners of 776 million yuan, and a net loss attributable to the parent company's owners after deducting non-recurring gains and losses of 809 million yuan; basic loss per share of 3.79 yuan.
In 2024, due to intensified competition in the photovoltaic industry, supply-demand imbalance, and insufficient operating rates of downstream customers, the demand for photovoltaic thermal fields decreased, leading to a decline in operating rates and product prices, as well as an increase in inventory impairment provisions. At the same time, the company conducted impairment testing on assets showing signs of impairment based on the principle of prudence, and prudently assessed and recognized asset impairment losses of approximately 550 million yuan in accordance with enterprise accounting standards, resulting in a temporary operating loss