Ningbo Water Meter (603700.SH) issued a profit warning, with an estimated net profit of 46 to 54 million yuan in 2024, a year-on-year decrease of 58.86% to 64.96%.

Ningbo Water Meter (603700.SH) announced that the company expects to achieve a net profit attributable to the owners of the parent company of 46 to 54 million yuan in 2024, a decrease of 77.26 to 85.26 million yuan compared to the same period last year (according to statutory disclosure data), a year-on-year decrease of 58.86% to 64.96%. In 2024, due to factors such as the downturn in the real estate industry and tight local government fiscal funds, the growth of industry demand has slowed down, and the bidding pace in some regions has also been delayed accordingly, which has to some extent restricted the expansion of the company's business. The overall performance of the company has experienced a certain degree of decline. During the reporting period, the company's supply chain and cost side are still under pressure. Key raw materials such as copper parts have experienced significant fluctuations in prices, reaching new highs, directly squeezing the company's profit margin and increasing the difficulty of cost control.