Miracle Automation Engineering (002009.SZ) forecasts a net loss of 230 million to 260 million yuan in 2024, with a narrowing loss.

Miracle Automation Engineering (002009.SZ) has released its annual performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of 2.3 billion to 2.6 billion yuan, narrowing compared to the previous year. After deducting non-recurring gains and losses, the net loss is forecasted to be between 2.7 billion and 3 billion yuan, also showing improvement. In 2024, the lithium battery recycling industry continued to face challenges, with the volume of old lithium batteries entering the recycling market falling short of expectations, leading to a relative shortage in the supply of recycled materials and intense competition in purchasing scrap materials. Prices of key products such as lithium, cobalt, and nickel remained low throughout the year. These factors have resulted in the company's lithium battery recycling business operating at a low capacity utilization rate, significantly increasing fixed costs per unit product, impacting business gross profit, and causing a year-on-year decline in operating income and continued gross profit loss in the lithium battery recycling business.