Farsoon Technologies (688433.SH) issued a profit warning, expecting a net profit of 55.67 million yuan to 82.48 million yuan for the year 2024, a decrease of 37.11% to 57.55% year-on-year.

Farsoon Technologies (688433.SH) announced that it is expected to achieve a net profit attributable to the parent company's owners of 55,678.2 million to 82,486.2 million yuan in 2024, a decrease of 48,674.9 million to 75,482.9 million yuan compared to the same period last year (statutory disclosure data), a year-on-year decrease of 37.11% to 57.55%. The main reason for the expected decrease in operating performance in 2024 compared to the same period last year is that certain downstream application industries will experience fluctuations in product demand due to industry cycles, and the impact of prolonged payment periods for orders in this industry. The company has decided not to recognize revenue for orders that do not meet the revenue recognition criteria, leading to a decrease in sales revenue compared to the same period last year. At the same time, the company will continue to increase research and development expenditures in 2024, resulting in an increase in research and development expenses compared to the same period last year, and an increase in operating costs, leading to a significant decrease in net profit attributable to the parent company's owners.