Lanzhou Greatwall Electrical (600192.SH) has announced a forecasted net loss of 217 million yuan for the fiscal year 2024.

Lanzhou Greatwall Electrical (600192.SH) announced that the company is expected to continue to incur a loss in 2024, with a net profit attributable to shareholders of the listed company of approximately -217 million yuan, compared to a net profit of -110 million yuan in the same period last year (as per statutory disclosure data). The main reasons for the continuing operating loss in 2024 are: first, the company's main products' raw material prices such as copper and silver have remained high, leading to a decrease in gross profit margin. Second, the market conditions during the reporting period have resulted in a decrease in orders and revenue, with the decrease in costs being smaller than the decrease in revenue, causing the company to incur an operating loss.