JTGROUP(SH:601609)2024-07-12 08:32Financial Performance - The company expects a net profit attributable to shareholders of the parent company for the first half of 2024 to be between 110 million and 145 million CNY, representing a decrease of 155.09 million to 185.09 million CNY compared to the same period last year, a year-on-year decline of 52.56% to 62.72%[10] - The estimated net profit after deducting non-recurring gains and losses for the first half of 2024 is projected to be between 115 million and 145 million CNY, which is a decrease of 60.86 million to 90.86 million CNY compared to the previous year, reflecting a decline of 29.56% to 44.14%[15] - The total profit for the period was 343.66 million CNY, with a net profit attributable to shareholders of the parent company of 295.09 million CNY, and a net profit after deducting non-recurring gains and losses of 205.86 million CNY[16] Market Conditions - The average copper market price increased significantly year-on-year in the first half of 2024, but downstream demand decreased, leading to a decline in production and sales volume as well as capacity utilization[5] - The company faced increased working capital needs and interest expenses due to rising copper prices, alongside higher share-based payment costs and asset depreciation, contributing to the profit decline[5] Strategic Initiatives - The company is actively promoting product upgrades and management reforms while expanding into overseas markets to lay a foundation for sustainable development[17]