According to the announcement from CETC (600877.SH), the company expects to achieve a net profit attributable to shareholders of the listed company of approximately 55 million to 73 million yuan for the year 2024. Compared to the same period last year, this represents a decrease of approximately 161.05 million to 179.05 million yuan, a year-on-year decrease of about 68.81% to 76.50%. The company anticipates that the net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, will be approximately 30 million to 40 million yuan for the year 2024, which is a decrease of about 157.4 million to 167.4 million yuan compared to the same period last year, representing a year-on-year decrease of about 79.74% to 84.80%.

Since the beginning of 2024, the domestic and international consumer markets have been in a recovery phase, but the demand in traditional market sectors has slowed down, such as in the 5G base station, consumer toy market, security market, and photovoltaic bypass protection switch market, where both domestic and foreign sales demand is insufficient. Additionally, market competition is fierce, with intensified competition in the mid-to-low-end product sectors, leading to a general decline in prices, which has put significant pressure on the company's performance. On the other hand, the company continues to focus on core technology accumulation and new product development, with R&D expenses in 2024 expected to account for approximately 5 percentage points more of operating income compared to the same period last year.

In the field of safety electronics, overall demand has been released slowly, and price declines have led to a significant decrease in revenue in 2024, with gross profit decreasing by approximately 63 million yuan compared to the same period last year. Some projects in the smart power sector are undergoing technical upgrades, resulting in a reduction in original project orders, leading to a decrease in gross profit of approximately 24 million yuan compared to the same period last year. The high-precision dam monitoring project has faced increased difficulty in product sales due to changes in bidding policies, resulting in a significant decline in revenue in 2024, with gross profit decreasing by approximately 23 million yuan compared to the same period last year.

The Beidou short message SoC product is one of the company's key products in the satellite communication terminal field, and it has been successfully integrated into multiple mobile phones, tablets, watches, and new energy vehicles. However, in 2024, all new customer-related mobile phone models have been affected by delays in industry access permits, resulting in sales of the Beidou short message SoC products falling far below the growth expectations set at the beginning of the year