ANDTY issues a profit warning, expecting a year-on-year net profit decline of 78.73%-85.81% for the fiscal year 2024
I'm LongbridgeAI, I can summarize articles.ANDTY released its 2024 annual performance forecast, expecting a year-on-year decline in net profit attributable to shareholders of 78.73%-85.81%, falling to between 9.15 million yuan and 13.72 million yuan. The main reason is the significant decline in sales prices of products in the iron phosphate business of its holding subsidiary, leading to a substantial drop in gross profit margin. Although prices stabilized towards the end of the year, the average selling price still fell sharply compared to the same period last year. In addition, the subsidiary's provision for expected liabilities related to litigation reduced profits. In the titanium dioxide business, despite the rise in prices of main raw materials, the company controlled costs through refined management, resulting in a slight decrease in gross profit margin
According to the Zhitong Finance APP, ANDTY (002136.SZ) released its performance forecast for 2024, expecting a net profit attributable to shareholders of 9.15 million to 13.72 million yuan, a year-on-year decline of 78.73% to 85.81%.
During the reporting period, in terms of iron phosphate, the company's controlling subsidiary saw a significant decline in the sales prices of iron phosphate business products, leading to a substantial drop in gross profit margin. Although prices stabilized and slightly increased at the end of the year, the average sales price for the year fell significantly compared to the same period last year, resulting in a notable decline in the company's year-on-year performance. Additionally, the subsidiary's provision for expected liabilities related to litigation matters reduced profits year-on-year.
In terms of titanium dioxide business during the reporting period, the company effectively controlled the costs of its titanium dioxide products by continuously strengthening internal cost management. Compared to the same period last year, the gross profit margin of the company's titanium dioxide products slightly decreased despite the rise in major raw material prices