Wuxi Acryl Technology (603722.SH) forecasts a pre-loss, with an estimated net loss of 19.5 million to 26.5 million in 2024.

Wuxi Acryl Technology (603722.SH) announced its performance forecast for the year 2024. According to preliminary calculations by the finance department, the company is expected to incur a net loss attributable to shareholders of the parent company of 19.5 million to 26.5 million yuan in 2024, compared to a profit in the same period last year. In 2024, the company's main product polyether amine will see a significant increase in new domestic production capacity, but lower-than-expected demand from downstream wind power customers will intensify market competition and continue to drive down product prices, leading to a continuous decline in gross profit margin.