SINOSTEEL LNMTC(SH:688119)2025-01-24 08:25Financial Performance - The company expects a net loss attributable to shareholders of the parent company for 2024 to be between -65 million and -38 million yuan, compared to a net profit of 70.03 million yuan in 2023[4][6]. - The projected net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is expected to be between -125 million and -92 million yuan for 2024, down from 8.96 million yuan in 2023[4][6]. - The total profit for 2023 was 83.99 million yuan, with a net profit of 70.03 million yuan attributable to shareholders of the parent company[6]. - The company reported earnings per share of 0.0623 yuan for 2023[7]. Market Conditions - The decline in performance is attributed to weakened demand for refractory products due to the steel and building materials industries being in a downward cycle[8]. - Increased market competition has led to a significant drop in profit margins for some of the company's products[8]. Financial Management - The aging structure of accounts receivable has deteriorated due to downstream enterprises being in an adjustment period, impacting the company's financials[9]. - The company has made provisions for bad debts based on the principle of prudence, which may be reversed if related receivables are recovered[9]. Forecast and Risks - The earnings forecast has not been audited by a registered accountant and is based on preliminary calculations by the company's finance department[5][10]. - Investors are advised to pay attention to investment risks as the final audited figures will be disclosed in the 2024 annual report[11].