Beijing BDStar Navigation (002151.SZ) issued a forecast of a pre-losing, with an estimated net loss of 328 million to 398 million yuan in 2024, turning from profit to loss year-on-year.

Beijing BDStar Navigation (002151.SZ) released its performance forecast for the year 2024, expecting a net loss attributable to the shareholders of the listed company of 328 million to 398 million yuan, a turnaround from profit to loss compared to the previous year. Reasons for the performance change: 1. In the year 2023, the company sold 15% of its equity in Beidou Zhilian Technology Co., Ltd, realizing an investment income of 440 million yuan, a decrease of about 390 million yuan compared to the previous year. 2. The special chip and information equipment business was affected by project delays and cancellations, leading to a decrease in net profit attributable to the parent company of about 100 million yuan compared to the same period last year. The income from international agent products in the navigation product business decreased due to domestic substitution, resulting in a decrease in net profit attributable to the parent company of about 30 million yuan. 3. Based on the principle of prudence and in accordance with market conditions and accounting standards requirements, the company plans to make provisions for credit impairment losses and asset impairment losses of 165-190 million yuan in 2024, which is expected to reduce the net profit attributable to the shareholders of the listed company by 165-190 million yuan. The impact of impairment matters on net profit attributable to the parent has not changed significantly compared to the same period last year.