Huludao Zinc issued a profit warning, expecting a net profit of 20 million to 30 million yuan for the year 2024, a decrease of 66.33%-77.56%
I'm LongbridgeAI, I can summarize articles.Huludao Zinc released its performance forecast for 2024, expecting a net profit of 20 million to 30 million yuan, a year-on-year decline of 66.33%-77.56%. The narrowing profit margin is attributed to intensified competition in the non-ferrous metal smelting industry and a decrease in processing fee prices in the zinc and copper markets. Additionally, concentrated maintenance of some production equipment in the copper system and the disposal of fixed assets have also impacted profits
According to the Zhitong Finance APP, Huludao Zinc (000751.SZ) released its performance forecast for 2024, expecting a net profit attributable to shareholders of the listed company to be between 20 million and 30 million yuan, a year-on-year decrease of 66.33% to 77.56%.
In 2024, competition in the non-ferrous metal smelting industry intensified, and the processing fee prices for the company's main products, zinc and copper, decreased year-on-year and remained at low levels. The company's profit margins narrowed, and during this period, some copper production equipment experienced insufficient capacity release due to concentrated maintenance. Additionally, the disposal of fixed assets affected profits. These factors led to a significant year-on-year decline in the company's performance