Keda Industrial Group (600499.SH) issued a profit warning, with an expected net profit of 900 million to 1.1 billion RMB in 2024, a year-on-year decrease of 47.42% to 56.98%.

Keda Industrial Group (600499.SH) announced that it is expected to achieve a net profit attributable to the shareholders of the listed company of 900 million to 1.1 billion yuan in 2024, a decrease of 992 million to 1.192 billion yuan compared to the same period last year, a year-on-year decrease of 47.42% to 56.98%. It is expected to achieve a net profit attributable to the shareholders of the listed company excluding non-recurring gains and losses of 800 million to 1 billion yuan, a decrease of 879 million to 1.079 billion yuan compared to the same period last year, a year-on-year decrease of 46.78% to 57.42%. During the reporting period, Blue Lithium Industry achieved good growth in production and sales, but due to the impact of the low lithium carbonate market prices, the performance of Blue Lithium Industry decreased by over 80% compared to the same period last year, leading to a decrease of approximately 1 billion yuan in net profit attributable to the shareholders of the listed company, compared to the previous year. In addition, the company's ceramic machinery business accelerated its globalization layout, deepened localization services, and promoted product innovation, achieving sustained growth in overseas income and steady performance improvement. In terms of overseas building materials, the subsidiary's new production capacity release has driven stable growth in tile product production and sales volume. However, due to intensified market competition in the first half of the year and the short operation period of the new glass project in the second half, as well as increased expenses from the establishment of the overseas building materials business headquarters management structure, the profitability of the overseas building materials business has weakened in the current period.