XSS(SH:600117)2024-07-08 08:05Financial Performance - The total profit for the first half of 2024 is estimated at -122.358 million yuan, with a net profit attributable to the parent company of -105.718 million yuan, and a net profit excluding non-recurring gains and losses of -64.292 million yuan [4]. - The company expects a net profit attributable to the parent company of approximately -29.4 million yuan for the first half of 2024, representing a year-on-year decrease in losses of about 72.20% compared to the same period last year [6][22]. - The net profit excluding non-recurring gains and losses for the first half of 2024 is estimated at approximately -28.8 million yuan, reflecting a year-on-year decrease in losses of about 55.20% [16]. - The financial data provided is preliminary and subject to final confirmation in the official half-year report [20]. Production and Operational Efficiency - The company achieved a steel production of 650,000 tons in the first half of 2024, an increase of 58.54% year-on-year, and a steel product output of 630,000 tons, an increase of 61.54% year-on-year [10]. - The company reported a significant reduction in financial expenses by approximately 190 million yuan year-on-year following the completion of judicial reorganization [19]. - The introduction of the Jianlong Group's operational model led to a substantial decrease in procurement and manufacturing costs, contributing to improved profitability [19]. - The company has implemented refined management practices, enhancing operational efficiency and reducing costs across various processes [25]. - The company has focused on optimizing product structure and enhancing supply chain capabilities to improve cost efficiency [10]. Market Challenges - The company continues to face challenges, including a year-on-year decline in sales prices resulting in a loss of approximately 220 million yuan [19].