Jiang Su Wujin Stainless Steel Pipe Group (603878.SH) issued a profit warning, with an expected net profit of around 145 million yuan in 2024, a decrease of about 58.76% year-on-year.

Jiangsu Wujin Stainless Steel Pipe Group (603878.SH) announced that it is expected to achieve a net profit attributable to shareholders of the listed company of approximately 145 million yuan in 2024, which is a decrease of approximately 206.6168 million yuan compared to the same period last year, a year-on-year decrease of approximately 58.76%. It is expected that the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses will be approximately 128 million yuan in 2024, which is a decrease of approximately 196.4619 million yuan compared to the same period last year, a year-on-year decrease of approximately 60.55%. In 2024, the company's main business income and gross profit margin both declined year-on-year, mainly due to intensified market competition, price competition, and more cost sharing in the situation of reduced total order volume, leading to a decrease in gross profit margin.