Guangdong KinLong Hardware Products (002791.SZ) issued a profit warning, with the net profit for the fiscal year 2024 expected to decrease by 62.96% to 72.22% to between 90 million and 120 million yuan.

Guangdong KinLong Hardware Products (002791.SZ) issued a performance forecast for the year 2024, expecting a net profit attributable to shareholders of the listed company of 90 million to 120 million yuan, a year-on-year decrease of 62.96% to 72.22%. The construction industry is still in a deep adjustment in 2024, with further decline in domestic demand for building hardware products. Although there is some growth in overseas markets, the overall volume of overseas business is still relatively small. The company's operating income for 2024 is expected to decrease by about 14%-15% year-on-year. At the same time, the company's operating expenses cannot be effectively diluted, and the company has made provisions for impairment losses on various assets that may occur in accordance with enterprise accounting standards, leading to an expected decrease in net profit attributable to shareholders of the listed company for the year 2024.