KBC(SH:688598) Xin Lang Cai Jing·2025-05-13 02:34Core Viewpoint - In 2024, the company faced multiple challenges including intensified domestic market competition, fluctuations in the supply chain prices, and insufficient operating rates from downstream customers, leading to a significant decline in revenue and net profit [2] Financial Performance - In 2024, the company achieved a revenue of 537 million, a year-on-year decrease of 50%, with a net profit attributable to shareholders of -815 million [1] - In Q4 2024, the revenue was 96 million, also down 50% year-on-year, with a net profit of -669 million [1] - In Q1 2025, the revenue was 160 million, a year-on-year decrease of 21%, with a net profit of -86 million [1] - The company recorded an asset impairment loss totaling 582 million, primarily due to fixed asset impairment losses of 455 million and inventory write-down losses of 128 million [2] Business Segments - The company shipped 2019.72 tons of advanced carbon-based composite materials in 2024, a decrease of 40.1% year-on-year, with lithium battery front-end shipments at 31,900 tons and graphitization shipments at 11,600 tons [2] - The gross profit margins for the photovoltaic and lithium battery sectors were -13.63% and -28.56%, respectively, impacted by price declines in the supply chain [2] Future Outlook - In Q1 2025, the company experienced an improvement in profitability driven by increased demand for thermal fields due to enhanced silicon wafer production [3] - The gross profit margin in Q1 2025 was -9.08%, recovering to the level seen in the first half of 2024 [4] - The company plans to continue research and development of new products and technologies, focusing on market promotion of carbon-ceramic brake discs, lithium battery thermal components, photovoltaic heaters, and porous carbon [4]