Minmetals Capital (600390.SH) issued a profit warning, expecting a net profit of 400 million to 550 million yuan in 2024, a year-on-year decrease of 76% to 82%.

Minmetals Capital (600390.SH) announced that the company expects to achieve a net profit attributable to the owners of the parent company of 400 million to 550 million yuan in 2024. This represents a decrease of 1.706 billion to 1.856 billion yuan compared to the same period last year, a year-on-year decrease of 76% to 82%. Compared to the financial statement data restated from the same period last year, the company expects a decrease of 1.732 billion to 1.882 billion yuan, a year-on-year decrease of 76% to 82%. In 2024, the company's operating performance was affected by multiple unexpected factors, leading to a certain decline in performance: firstly, the transformation of the trust business resulted in a decrease in fee and commission income; secondly, the fair value of financial assets held by subsidiary companies decreased during the period; thirdly, the subsidiary companies received less government subsidies compared to the same period last year.