Wujin Stainless issues a profit warning, expecting a net profit of approximately 145 million yuan in 2024, a year-on-year decrease of about 58.76%
I'm LongbridgeAI, I can summarize articles.Wujin Stainless expects a net profit of approximately 145 million yuan in 2024, a year-on-year decrease of 58.76%. After deducting non-recurring gains and losses, the net profit is expected to be 128 million yuan, a year-on-year decrease of 60.55%. The company's main business revenue and gross profit margin have both declined, mainly due to intensified market competition, price competition, and a decrease in orders leading to increased cost allocation
According to the announcement from Wujin Stainless (603878.SH), it is expected to achieve a net profit attributable to shareholders of the listed company of approximately 145 million yuan for the year 2024, a decrease of about 206.6168 million yuan compared to the same period last year, representing a year-on-year decline of approximately 58.76%. It is also expected that the net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, will be around 128 million yuan for the year 2024, a decrease of about 196.4619 million yuan compared to the same period last year, representing a year-on-year decline of approximately 60.55%.
In 2024, the company's main business revenue and gross profit margin both experienced a decline compared to the previous year, mainly due to intensified market competition, price competition, and a greater cost allocation under the condition of reduced total order volume, leading to a decrease in gross profit margin