JZP(SH:600190)2025-01-26 08:00Financial Performance Expectations - The company expects a net profit attributable to shareholders for 2024 to be between -64 billion and -54 billion, indicating a significant loss compared to the previous year's profit of 82.08 million [2][5]. - The expected net profit after deducting non-recurring gains and losses for 2024 is also projected to be between -64 billion and -54 billion [3]. - The previous year's earnings per share was 0.040994 yuan, indicating a decline in profitability for the upcoming year [5]. Impairment and Financial Issues - The primary reason for the anticipated loss is the impairment of long-term equity investments, with an estimated impairment provision of approximately 32 billion to 39.85 billion for three joint ventures [6][10]. - The overdue trade receivables and prepayments amount to approximately 21.71 billion, leading to a full impairment provision of 21.68 billion, significantly impacting the total profit [6]. - The company has not yet corrected financial data related to previous years' false disclosures, which may affect the accuracy of the current earnings forecast [8][9]. Audit and Compliance Risks - The company is at risk of being subject to delisting warnings if the 2024 financial statements receive an audit report with no opinion from the auditors [7]. - The company has engaged a third-party firm to conduct a special audit on the joint ventures due to the significant uncertainty surrounding their financial recoverability [9][10]. Legal and Operational Challenges - The company is currently facing legal issues related to unauthorized guarantees amounting to approximately 480 million, which is 7.11% of the latest audited net assets [8]. - The company has not disclosed any new products, technologies, or market expansion strategies in the earnings forecast [11].