Zhejiang Youpon Integrated Ceiling (002718.SZ) issued a profit warning, expecting a net loss of 90 to 130 million yuan in 2024, turning from profit to loss year on year.

Zhejiang Youpon Integrated Ceiling (002718.SZ) has released its performance forecast for the year 2024, expecting a net loss attributable to shareholders of the listed company of 90 to 130 million yuan, a turn from profit to loss compared to the previous year. During the reporting period, the company expects to provision for credit and impairment losses totaling approximately 98 million yuan, of which about 21 million yuan has already been provisioned in the first three quarters. It is anticipated that a provision of about 77 million yuan will be made in the fourth quarter, mainly due to the conversion of some receivables into assets secured by properties, with some of these properties involved in litigation. As a precautionary measure, the company will make an additional provision for impairment losses of about 63 million yuan in the fourth quarter. During the reporting period, the company received a tax risk alert from the tax authorities and, after conducting a self-check, it paid more than 15 million yuan in enterprise income tax and over 9 million yuan in overdue fines. This tax payment is not related to previous accounting errors and does not require retrospective adjustments to previous financial data. It will be recognized as an expense in the current period, affecting the company's net profit for the year 2024. The company's sales scale and operating income have decreased compared to the previous year.