YUXING(300305)2025-01-20 08:04Financial Performance - The company expects a net loss of approximately RMB 350 million for the fiscal year 2024, compared to a profit of RMB 8.71 million in the same period last year[3]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of approximately RMB 362 million, down from a profit of RMB 1.39 million in the previous year[3]. - The decline in performance is primarily due to reduced demand for photovoltaic polyester films and increased production costs associated with new product development[5]. Asset Management - The company plans to recognize an asset impairment provision of approximately RMB 160 million for fixed assets showing signs of impairment, pending final audit confirmation[6]. - Interest expenses for convertible bonds are estimated at around RMB 34 million for the reporting period[6]. Market Conditions - The company is focusing on transitioning to polyester film products for the electronic optics sector amid declining sales in traditional photovoltaic applications[5]. - The overall industry is facing challenges with excess capacity and intense competition in the mid-to-low-end product segments, leading to price declines and reduced gross margins[5]. Audit and Reporting - The financial data in the earnings forecast has not been audited by registered accountants, but there are no significant discrepancies with the accounting firm[4]. - The specific financial figures for the fiscal year 2024 will be detailed in the company's annual report[7]. - Investors are advised to exercise caution and consider investment risks based on the preliminary nature of the earnings forecast[7].