SUNDIRO HOLDING issues a profit warning, expecting a net loss of 125 million to 185 million yuan for the fiscal year 2024
I'm LongbridgeAI, I can summarize articles.SUNDIRO HOLDING expects a net loss of 125 million to 185 million yuan for the fiscal year 2024, mainly due to complex geological conditions in the coal industry subsidiary's production area, low coal quality, and safety incidents leading to a decline in production and sales volume, resulting in a year-on-year decrease in revenue and profit
According to the Zhitong Finance APP, SUNDIRO HOLDING (000571.SZ) released its performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of between 125 million yuan and 185 million yuan for the year.
Reasons for performance changes: The company's coal industry subsidiary, Inner Mongolia Yakeshi Wujium Coal (Group) Co., Ltd., reported that the geological conditions at the Shengli Coal Mine during the reporting period were complex, and the low coal quality affected the selling price; in the third quarter, coal from the 14th and 15th seams at the Shengli Coal Mine has been mined out, and the 16th seam is being mined sequentially. Water prevention and control operations are organized according to safety mining requirements, resulting in low production; the Yaxing Coal Mine has been suspended from production due to a safety accident from August 30, 2024, to October 11, 2024; the above factors have led to a decline in production and sales volume this year, with revenue and profit decreasing year-on-year