YADEA (01585) expects annual net profit to be approximately 1.2 billion to 1.4 billion yuan.

YADEA (01585) announced that the group is expected to achieve a net profit of approximately 1.2 to 1.4 billion yuan in 2024, compared to a net profit of 2.64 billion yuan in the same period last year. The decrease in net profit expectations is mainly due to a decrease in sales of electric two-wheeled vehicles as a result of distributor inventory clearance cycles, as well as a decrease in the selling price of certain existing models of inventory. The group has adopted a strategy to accelerate the sale and market promotion of these existing models to respond to adjustments in national standards.