Jiangsu Hengxing New Material Technology (SH:603276)2025-01-17 12:10Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 32 million and 38 million yuan, a decrease of 40.07 million to 46.07 million yuan compared to the same period last year, representing a decline of 51.33% to 59.02%[2] - The projected net profit after deducting non-recurring gains and losses is estimated to be between 20 million and 25.8 million yuan, down by 48.79 million to 54.59 million yuan year-on-year, reflecting a decrease of 65.41% to 73.19%[2] - The total profit for the previous year was 95.23 million yuan, with a net profit attributable to shareholders of 78.08 million yuan[6] - The company assures that there are no significant uncertainties affecting the accuracy of this performance forecast[9] - The forecast data is preliminary and subject to change, with the final audited financial data to be disclosed in the 2024 annual report[10] Market and Competitive Environment - The agricultural chemical industry, which is the main market for the company's products, is experiencing cyclical adjustments and intense competition, leading to a decrease in gross profit contributions[8] - The company achieved significant growth in product sales and operating revenue compared to the previous year, despite a decline in product sales prices due to raw material costs and market competition[8] Operational Developments - The company is expanding its product structure and actively exploring new application markets in the downstream sector[8] - The company is in the process of releasing new production capacity from its subsidiary Ningxia Gangxing's first-phase project, which has resulted in increased manufacturing costs[8]