Guangzhou Tinci Materials Technology (002709.SZ) issued a profit warning, expecting the annual net profit to be between 440 million yuan and 520 million yuan, a decrease of 72.5% to 76.73% year-on-year.

Guangzhou Tinci Materials Technology (002709.SZ) disclosed the performance forecast for the year 2024, with a net profit attributable to shareholders of the listed company of 440 million to 520 million yuan, a decrease of 72.5% to 76.73% year-on-year; the net profit after deducting non-recurring gains and losses is 380 million to 460 million yuan, a decrease of 74.78% to 79.16% year-on-year. In recent years, due to the slowing growth of downstream demand and changes in the supply-demand relationship of the new energy vehicle industry chain, the lithium battery material industry chain has been operating in the bottom range of the industry. Although the company has actively adjusted its product structure, customer structure, and sales strategy, increased the sales volume of new products such as structural adhesives, reduced the losses of businesses such as positive electrode materials, and ensured stable raw material prices through a prudent hedging strategy, the price of electrolyte products has undergone a significant adjustment compared to 2023, leading to reduced unit profitability. In addition, losses on inventory write-downs of certain products, impairment of assets, credit impairment, and other matters have contributed to the year-on-year decline in profits compared to last year.