Guangdong Songyang Recycle Resources (603863.SH) predicts a net loss of 150 million to 200 million yuan in 2024.

Guangdong Songyang Recycle Resources (603863.SH) announced that, according to preliminary calculations by the finance department, it is estimated that the net profit attributable to the shareholders of the listed company in 2024 will be between -200 million yuan and -150 million yuan. It is also expected that the net profit attributable to the shareholders of the listed company in 2024, excluding non-recurring gains and losses, will be between -200 million yuan and -150 million yuan. In 2024, due to factors such as overall market conditions, downstream demand for the company is weak, competition in the industry is intensifying, and the company's product prices continue to be lower than the cost price, resulting in a negative gross profit margin. This has led to the company experiencing a loss in its operating performance in 2024.