XINXING PIPES(000778)2025-01-20 12:30Financial Performance - The estimated net profit for 2024 is projected to be 14,605.95 million CNY, representing a decrease of 89.19% compared to the same period last year, which was 135,082.49 million CNY[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be a loss of 9,572.12 million CNY, compared to a profit of 83,135.39 million CNY in the previous year[3] - Basic earnings per share are projected to be 0.0366 CNY, down from 0.3385 CNY in the same period last year[3] Market Conditions - The decline in performance is attributed to intensified structural contradictions in the steel industry, with steel prices falling more than raw material prices[5] - The company is facing reduced profitability in the casting pipe sector due to funding shortages in downstream projects[5] Strategic Initiatives - The company is committed to optimizing product structure and stabilizing production operations despite adverse market conditions[5] - The company is accelerating the transformation of technological achievements and enhancing product capabilities to stabilize its operational foundation[5] Financial Disclosure - This earnings forecast has not been audited by an accounting firm, and specific financial data will be disclosed in the 2024 annual report[4][6] - Investors are advised to exercise caution and be aware of investment risks related to this preliminary financial estimate[6]