Baota Industry(000595)2024-07-09 09:47Financial Performance - The estimated net profit for the first half of 2024 is projected to be a loss of between 26 million and 33 million yuan, compared to a loss of 30.90 million yuan in the same period last year, representing a decrease of 16% to 7% year-on-year [3]. - The estimated operating revenue for the first half of 2024 is expected to be between 118 million and 125 million yuan, an increase from 112.61 million yuan in the same period last year [3]. - The estimated net profit after deducting non-recurring gains and losses is projected to be a loss of between 29 million and 36 million yuan, compared to a loss of 33.15 million yuan last year, reflecting a decrease of 13% to 9% year-on-year [3]. Business Challenges - The company is facing challenges due to increased competition in the bearing business and a general slowdown in industry growth, which has impacted profitability despite an increase in operating revenue [4]. - The company has increased its sales and financial expenses compared to the previous year to enhance market development and product competitiveness [4]. - The ongoing construction of the high-end precision bearing industrial upgrade project in Northwest China has not yet achieved production capacity [4]. Information Disclosure - The company emphasizes that the performance forecast is based on preliminary estimates and the actual financial data will be disclosed in the official half-year report [5]. - The company is committed to timely information disclosure in accordance with legal regulations to mitigate investment risks for stakeholders [5].