According to the Zhitong Finance APP, FLYING TECHNOLOGY (603488.SH) announced that the company expects to achieve a net profit attributable to shareholders of the listed company of between 8 million and 12 million yuan for the year 2024. This represents a decrease of 69.6578 million to 73.6578 million yuan compared to the same period last year, a year-on-year decrease of 85.30% to 90.20%.

During the reporting period, competition in the elevator and related parts industry has become increasingly fierce, leading to a more severe market environment. Affected by the industry cycle and intensified market competition, along with multiple factors such as overcapacity and reduced market share within the industry, the company's product prices and order volumes have both declined to a certain extent, significantly squeezing profit margins. The gross profit margin and net profit margin of the main products have decreased, resulting in an overall decline in the company's performance. In accordance with the "Enterprise Accounting Standards" and the company's accounting policies, based on the principle of prudence, the company intends to make provisions for impairment on various assets that show signs of impairment, with the final provision amount to be determined by the annual report audited by the accounting firm officially disclosed by the company