五矿发展(600058) - 2024 Q2 - 季度业绩预告

Key Highlights This announcement alerts investors to a significant year-on-year decline of approximately 75% in the company's 2024 semi-annual net profit and 172% in non-recurring net profit, indicating a performance reduction exceeding 50%, while emphasizing the announcement's authenticity and investment risks - The company expects a year-on-year decrease of approximately 75% in net profit attributable to the parent company and approximately 172% in net profit after deducting non-recurring gains and losses for the first half of 2024, falling under the category of a performance reduction exceeding 50%[2][6][18] - The company's board of directors and all directors guarantee that this announcement contains no false statements, misleading representations, or material omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness[17] I. Current Period Performance Forecast This section details Minmetals Development's preliminary financial forecast for the first half of 2024, projecting net profit attributable to the parent company at 50 million yuan, a significant 75% year-on-year decrease, and net profit after deducting non-recurring gains and losses at -123 million yuan, a 172% year-on-year decline, explicitly stating these figures are unaudited (I) Performance Forecast Period This section specifies the financial reporting period covered by this performance forecast as January 1, 2024, to June 30, 2024 - The performance forecast period is from January 1, 2024, to June 30, 2024[3][19] (II) Performance Forecast Details This section provides the specific estimated amounts and year-on-year changes for net profit attributable to the parent company and net profit after deducting non-recurring gains and losses for the first half of 2024 2024 Semi-Annual Performance Forecast Key Financial Indicators | Indicator | Estimated Amount (100 million yuan) | Year-on-Year Change (100 million yuan) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Net profit attributable to parent company | 0.50 | -1.49 | -75% | | Net profit attributable to parent company after deducting non-recurring gains and losses | -1.23 | -2.95 | -172% | (III) This Performance Forecast Data is Unaudited by a Certified Public Accountant This section emphasizes that the financial data disclosed in this performance forecast are preliminary estimates and have not yet been confirmed by a certified public accountant's audit - This performance forecast data has not been audited by a certified public accountant[21] II. Operating Performance and Financial Position for the Same Period Last Year This section presents the company's operating performance and financial position for the same period last year (first half of 2023), including total profit, net profit attributable to the parent company, net profit after deducting non-recurring gains and losses, and earnings per share, with restated data provided for comparison Operating Performance and Financial Position for the Same Period Last Year (First Half of 2023) | Indicator | Legally Disclosed Data (100 million yuan) | Restated Data (100 million yuan) | | :--- | :--- | :--- | | Total Profit | 2.87 | 2.91 | | Net profit attributable to parent company | 1.99 | 2.00 | | Net profit attributable to parent company after deducting non-recurring gains and losses | 1.72 | 1.72 | | Earnings per share | 0.16 | 0.16 | III. Main Reasons for Performance Decline in the Current Period This section analyzes the primary causes for the significant performance decline in the first half of 2024, including unfavorable macroeconomic conditions, a sluggish main business market, and the offsetting effect of non-recurring gains and losses (I) Impact of Main Business This section highlights severe challenges in the company's main business, the ferrous metal circulation sector, due to weak infrastructure investment, a depressed real estate market, falling commodity prices, sluggish market demand, and tight downstream liquidity, leading to a substantial decrease in profitability and increased inventory impairment provisions - Unfavorable macroeconomic environment, weak growth in infrastructure investment, a persistently low-performing real estate sector, and insufficient effective demand[12] - Prices of major commodities, such as steel and metallurgical raw materials, which are the company's main products, significantly declined, market demand remained sluggish, and liquidity in the downstream industrial chain was tight[12] - The company's provision for inventory impairment increased year-on-year in the current period, leading to a substantial decrease in the company's profitability[12] (II) Impact of Non-Operating Gains and Losses This section discloses the impact of non-operating gains and losses on performance, noting that government subsidies received by the company's subsidiaries significantly increased by 653% year-on-year, reaching 146 million yuan, offsetting some operating losses Impact of Non-Operating Gains and Losses | Indicator | H1 2024 (100 million yuan) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Government subsidies related to income | 1.46 | +653% | IV. Risk Warning This section reminds investors that the performance forecast data are preliminary estimates, and the precise financial figures will be subject to the company's officially disclosed 2024 semi-annual report, urging caution regarding investment risks - The forecast data are preliminary estimates only, and the specific accurate financial data will be subject to the company's officially disclosed 2024 semi-annual report[29] - Investors are kindly requested to pay attention to investment risks[29] V. Other Explanatory Matters This section outlines the company's strategies for addressing the challenging industry landscape, including a continued focus on core responsibilities and main business, strengthening operational capabilities, enhancing management quality and efficiency, and reinforcing risk prevention to ensure stable operations - The company will continue to steadfastly focus on its core responsibilities and main business, strengthening its operational capabilities[24] - Enhance management quality and efficiency, strengthen risk prevention, and ensure stable operations[24] Board Statement and Announcement Date This section includes the board of directors' commitment to the truthfulness, accuracy, and completeness of the announcement's content, along with the official publication date of the announcement - The company's board of directors and all directors guarantee that this announcement contains no false statements, misleading representations, or material omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness[17] - The announcement publication date is July 10, 2024[26]