Tangshan Sanyou Chemical Industries(600409.SH) issued a profit warning, expecting a net profit of around 490 million yuan in 2024, a decrease of about 13% year-on-year.

Tangshan Sanyou Chemical Industries (600409.SH) announced that, according to preliminary calculations by the finance department, the company is expected to achieve a net profit attributable to the owners of the parent company of approximately 490 million yuan in 2024, a decrease of around 76 million yuan compared to the same period last year (as disclosed by law), representing a year-on-year decrease of approximately 13%. It is also expected to achieve a net profit attributable to the owners of the parent company after deducting non-recurring gains and losses of around 422 million yuan in 2024, a decrease of around 133 million yuan compared to the same period last year (as disclosed by law), representing a year-on-year decrease of approximately 24%. The main reasons for the decrease in this period's performance are the severe and complex external circumstances such as the continuous expansion of capacity in the soda ash and organic silicone industries, high raw material prices, and insufficient downstream demand. The company's leading products are experiencing a weak adjustment market, with a significant decrease in profits in the soda ash sector compared to the same period last year. While there has been some improvement in the polyester sector, the chlorine-alkali sector, and the organic silicone sector compared to the same period last year, their profitability remains inadequate, leading to a year-on-year decrease in net profit attributable to the owners of the parent company in this reporting period.