[Wencan Co., Ltd. Expects Full-Year Net Profit to Increase by 118.1%-177.6%]
Wencan Group Co., Ltd. recently released its 2024 performance forecast, projecting a net profit of 110 million-140 million yuan in 2024, up 118.1%-177.6% YoY. The company also expects its operating revenue to reach approximately 6.254 billion yuan in 2024, up about 22.59% YoY. Wencan stated that during the reporting period, the domestic NEV customers' adoption of the company's integrated die-casting newly launched car models, which are more competitive in the market, along with the incremental volume of some customers' existing projects, contributed to the increase in the company's product production and revenue. Additionally, benefiting from the ramp-up in delivery volumes of customers' new energy car models, the proportion of revenue from the company's auto body structural parts and large integrated castings increased, further driving profit growth.
