Intco Recycling Resources (688087.SH) has forecasted a net profit for 2024 of between 2.96 billion yuan and 3.3 billion yuan, an increase of 51.29% to 68.67%.

Intco Recycling Resources (688087.SH) announced that the company expects to achieve a net profit attributable to the owners of the parent company of 2.96 billion to 3.3 billion yuan in 2024, a year-on-year increase of 51.29% to 68.67%. The main reasons for the change in performance this period are as follows: 1. Significantly enhanced operating profit capability. As a high-tech manufacturer in the field of resource recycling, based on over 20 years of deep cultivation in the renewable plastic field, the company has established a strong competitive barrier by leveraging superior capital and scale advantages over its peers and strategically laying out six global research and production bases. During the reporting period, the overseas base in Quinhon, Vietnam (Phase 1) achieved full production and sales, playing a crucial enabling role. 2. The strategy of new product development and the expansion of new channels have helped drive steady revenue growth. In terms of new product development, the company focuses on innovative exploration of products with multiple materials and applications, precisely positioning the direction of new product research and development based on market dynamics and customer needs, creating explosive products in niche markets, especially maintaining high-speed growth in decorative building materials; in terms of sales channels, the company continues to deepen its presence in international markets, continuously increasing the sales share of retailers, and further enhancing the cohesion of cooperation with overseas retailers based on the rich and diversified product SKUs. 3. Deepening the implementation of lean innovation to improve operational efficiency. With lean improvement as the focus, the company promotes the digitalization, informatization, and intelligence transformation of the company comprehensively, continuously stimulating the innovation potential of employees, achieving comprehensive improvement and innovation in production manufacturing, technical processes, product quality, and market promotion, effectively improving the efficiency of systematic management of the company through data sharing, process tracing, and support for the back-office. 4. Strengthening the foundation for steady performance growth through organizational construction. The "student army" strategy recruits "Inco Young" graduates from domestic and foreign universities every year, continuously injecting fresh blood into the company. The "competition for promotion" mechanism breaks through traditional promotion barriers, creating a "horse race" model to foster a positive competitive environment, significantly enhancing the efficiency of organizational construction and management, injecting strong momentum into the company's vigorous development.