Guangdong Quanwei Technology (SZ:300716)2025-01-22 12:45Financial Performance - The company expects a net loss of between 96 million and 135 million yuan for the year 2024, compared to a loss of 138.56 million yuan in the same period last year[4]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of between 94 million and 133 million yuan, compared to a loss of 195.24 million yuan in the previous year[4]. - The performance forecast is based on preliminary estimates by the finance department and has not yet been audited[9]. - The specific data for the 2024 annual performance will be disclosed in the company's annual report, and investors are advised to exercise caution[9]. Strategic Decisions - The primary reason for the loss is the strategic decision to further divest from the rubber and plastic business and focus on the photovoltaic new energy sector, which faced intense competition and declining product prices[6]. Operational Challenges - The company's capacity utilization rate did not meet expectations, leading to negative gross margins for its main products, particularly photovoltaic modules[6]. - The company has recognized asset impairment provisions due to the adverse market conditions affecting its core business[6]. Legal Issues - Legal proceedings related to overdue accounts payable have commenced, with some cases already in trial awaiting judgment[7]. - The company has also made provisions for expected liabilities related to these legal issues[8]. Communication with Auditors - The company communicated with its auditing firm regarding the performance forecast, and the communication was smooth[5].