Shanghai Flyco Electrical Appliance (603868.SH) issued a profit warning, with an estimated net profit of 464 million yuan for the full year of 2024, a decrease of 54.45% year-on-year.

Shanghai Flyco Electrical Appliance (603868.SH) announced that the company expects to achieve a net profit attributable to the owners of the parent company of 464 million yuan in 2024, a decrease of approximately 54.45% year-on-year. Due to the dual impact of the market transition period of the company's dual-brand structure strategic adjustment and changes in the consumer environment, the company's operating conditions are under significant pressure in this reporting period. The government subsidies received by the company in the reporting period have decreased significantly compared to last year.