Shengtak New Materials (300881.SZ) expects a forecasted increase, with a net profit for the year 2024 of 2.25 billion yuan to 2.35 billion yuan, a growth of 86.72% to 95.01%.

Shengtak New Materials (300881.SZ) released its performance forecast for the year of 2024, expecting a net profit attributable to shareholders of the listed company of 2.25 billion to 2.35 billion yuan, a year-on-year increase of 86.72% to 95.01%. During the reporting period, the company's main focus was on the manufacturing of ultra-supercritical boilers for coal-fired power plants. Benefiting from a surge in downstream orders, the company's existing orders also increased accordingly. The output of stainless steel pipes increased by approximately 30.72% compared to the same period. The output of alloy steel pipes increased by 8.56% compared to the same period. The increase in the company's product gross profit margin drove the growth in profits.