Hunan Zhongke Electric (300035.SZ) releases a profit forecast, expecting a net profit of 56.21 million to 74.95 million in the first half of the year, turning a loss into a profit year-on-year.

Hunan Zhongke Electric (300035.SZ) announced its performance forecast for the first half of 2024, expecting a net profit attributable to shareholders of the listed company of 56.21 million to 74.95 million yuan, turning losses into profits year-on-year; and a net profit of 76.58 million to 93.23 million yuan after deducting non-recurring gains and losses, also turning losses into profits year-on-year. It is reported that in the first half of 2023, the company incurred a loss in net profit due to a significant provision for inventory price decline in the first quarter, the decrease in selling prices in the market for negative electrode materials, and cost pressures from consuming high-cost inventory. In the first half of 2024, downstream customer demand increased, leading to a significant increase in production and sales of negative electrode materials year-on-year. Additionally, the continued release of cost reduction and efficiency improvement measures has significantly improved the company's operational performance compared to the same period last year.