Jingfeng Pharmaceutical(SZ:000908)2024-07-17 10:15Group 1: Financial Performance Overview - The estimated net profit for Hunan Jingfeng Pharmaceutical Co., Ltd. for the first half of 2024 is projected to be a loss between 15 million and 25 million yuan, compared to a loss of 12.84 million yuan in the same period last year [3][4]. - The net profit after deducting non-recurring gains and losses is expected to be a loss between 18 million and 27 million yuan, compared to a loss of 19.42 million yuan in the previous year [4]. - The operating revenue is projected to be between 180 million and 220 million yuan, significantly lower than the 380.52 million yuan reported in the same period last year [4]. Group 2: Reasons for Performance Decline - The decline in performance is attributed to insufficient outsourced processing volume of key products from the important subsidiary, Shanghai Jingfeng Pharmaceutical Co., Ltd., leading to lower-than-expected sales [3][4]. - The exclusion of another key subsidiary, Dalian Dezhe Pharmaceutical Co., Ltd., from the consolidated financial statements has also negatively impacted the financial indicators compared to the previous year [4]. Group 3: Risk Management and Responsibilities - Morgan Stanley Securities emphasizes the importance of investors being aware of the associated risks due to the negative financial outlook [3]. - The company will continue to urge the issuer to secure and implement the repayment funds for the "16 Jingfeng 01" bonds and will closely monitor matters that significantly affect the interests of bondholders [3].