Jinneng Science & Technology (603113.SH) releases a forecast for an expected net loss of 49-59 million RMB in the fiscal year 2024, which will result in a shift from profit to loss.

Jinneng Science & Technology (603113.SH) announced that the company expects a net loss of 49-59 million yuan attributable to shareholders of the listed company in 2024. The company had a profit of 137 million yuan in the same period last year. In 2024, due to the impact of the macroeconomic environment and weak demand in the downstream product market, the company's product gross profit level has declined, leading to a loss in annual profit. In the face of a challenging situation, the company will actively promote cost reduction and efficiency enhancement, fully leverage the competitive advantages of the industrial chain and product differentiation, and ensure the stable operation of the company's production and operation.