Guangdong Fangyuan New Materials (688148)2025-01-24 09:40Financial Performance Forecast - The company expects a net loss attributable to shareholders of the parent company for 2024 to be between -430 million and -290 million RMB, compared to a net loss of -455.38 million RMB in the same period last year [3]. - The projected net profit attributable to shareholders after deducting non-recurring gains and losses for 2024 is expected to be between -446 million and -306 million RMB, compared to -438.82 million RMB last year [3]. - The total profit for the previous year was -508.10 million RMB, with a net profit attributable to shareholders of -455.38 million RMB [4]. Market and Operational Challenges - The company faced a decline in demand for ternary precursor products due to weak overseas sales of new energy vehicles and increased penetration of lithium iron phosphate technology, leading to a decrease in sales volume and revenue [5]. - The company undertook technical upgrades to production lines to enhance capacity for sulfate and battery-grade lithium carbonate, resulting in lower capacity utilization and increased unit costs [5]. - Fluctuations in the prices of nickel, cobalt, and lithium metals in 2024 led to inventory write-downs and losses from the sale of stagnant inventory, impacting net profit [5]. Audit and Risk Communication - The company has communicated with its accounting firm regarding the performance forecast, and there are no significant discrepancies in the financial data [6]. - The performance forecast is based on preliminary calculations and has not yet been audited by registered accountants [6]. - Investors are advised to pay attention to investment risks as the forecast data is subject to change pending the audited annual report [7].