Hunan Yujing Machinery (SZ:002943)2025-01-20 09:45Financial Performance - The company expects a net loss of approximately 360 million yuan for the fiscal year 2024, a decline of 418.43% to 489.19% compared to the previous year's profit of 113.05 million yuan [3]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of about 370 million yuan, representing a decrease of 464.56% to 543.38% from last year's profit of 101.49 million yuan [3]. - The basic earnings per share are anticipated to be a loss of 1.77 to 2.16 yuan per share, compared to a profit of 0.56 yuan per share in the previous year [3]. Market Conditions - The decline in profitability is attributed to rapid capacity expansion in the photovoltaic industry, intensified market competition, and continuous price declines along the industry chain [5]. - The company's subsidiaries have experienced reduced gross margins and lower capacity utilization, leading to underperformance against profit expectations [5]. Impairment and Provisions - There are indications of impairment for certain inventories, long-term assets, and goodwill, prompting the company to prepare for impairment provisions [6]. Future Strategy - For 2025, the company aims to deepen its focus on high-precision cutting, grinding, and polishing equipment and consumables in the consumer electronics, semiconductor, and new energy sectors [6]. - The company plans to accelerate product upgrades and the process of import substitution while advancing its global business strategy [6]. Financial Reporting - The financial data presented is preliminary and has not been audited by the accounting firm, with the final figures to be confirmed in the 2024 annual report [4]. - Investors are advised to exercise caution and consider investment risks based on the preliminary nature of the earnings forecast [6].