Jia Yuan Technology(688388)2025-01-24 09:30Financial Performance - In 2024, the company expects a net loss attributable to shareholders of between -265 million and -195 million CNY, compared to the previous year[2]. - The net profit excluding non-recurring gains and losses is projected to be between -330 million and -245 million CNY[2]. - The decline in profit is primarily due to intense competition in the lithium battery copper foil industry, leading to a significant drop in processing fees and product gross margins[2]. - The final impact of the projected losses will be confirmed in the audited annual report for 2024[2]. Credit and Impairment - The company has seen an increase in accounts receivable due to higher sales and a slight relaxation of credit policies for major customers, resulting in a notable increase in credit impairment losses compared to the previous year[2]. - The company has recognized impairment provisions for assets showing signs of impairment[2]. - Interest expenses have increased due to a rise in loans from financial institutions compared to the same period last year[2]. - The company's credit rating has been downgraded to A+ with a stable outlook[1]. - The credit rating for the "Jia Yuan Convertible Bonds" has also been downgraded to A+[1]. Operational Monitoring - The company will continue to monitor the situation and disclose any changes in its operational and financial status[3].