Tianci Materials Expects 79.82%-83.7% YoY Decline in H1 2024 Net Profit, Attributed to Intensified Competition and Price Declines in Lithium-Ion Electrolyte Market

Telah Terbit: Jul 11, 2024 09:16
[Tianci Materials: Estimated Net Profit for the First Half of the Year Decreased by 79.82%-83.7% YoY] Tianci Materials announced that it expects the net profit attributable to shareholders of the listed company for the first half of 2024 to range from 210 million yuan to 260 million yuan, representing a year-on-year decrease of 79.82%-83.7%. The main reasons for this decline are: intensified competition in the new energy industry, slower-than-expected demand growth, and although the company's sales of lithium-ion electrolyte products have maintained growth, the continuous decline in prices has led to a decrease in gross profit, resulting in a decline in profits for the first half of the year compared to the same period last year. Small fortune note: The net profit for Q1 was 114 million yuan, based on this calculation, the estimated net profit for Q2 is expected to be 96 million yuan to 146 million yuan, representing a quarter-on-quarter change of -15% to 28%.

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[Tianci Materials: Estimated Net Profit for the First Half of the Year - Shanghai Metals Market (SMM)