Tonze New Energy Technology (002759.SZ) issued a profit warning, expecting a net loss of 1.25 billion to 1.5 billion for the fiscal year of 2024, a change from profit to loss compared to the previous year.

Tonze New Energy Technology (002759.SZ) announced its performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of 12.5 billion to 15 billion yuan for the whole year, turning from profit to loss compared to the previous year. Due to the fierce competition in the market of its main product, lithium hexafluorophosphate, there has been a significant decrease in prices. As a major enterprise in the lithium hexafluorophosphate industry, the company has a large production and sales scale, and all three subsidiaries that mainly produce lithium hexafluorophosphate products recorded losses, with a total loss exceeding 3 billion yuan and a net loss of approximately 2.5 billion yuan. The corresponding industry of the company's main product lithium hexafluorophosphate is still in a downturn, with temporary excess production capacity in the industry, forecasting a decrease in future profitability. The goodwill of the corresponding assets was tested to be impaired, with an estimated impairment amount of around 1 billion yuan. After this impairment provision, the remaining carrying value of goodwill for lithium hexafluorophosphate assets is approximately 4.4 billion yuan. The company's wholly-owned subsidiary, Changshu Xintehuacheng Chemical Co., Ltd. (hereinafter referred to as "Xintehuacheng"), is expected to not meet its performance commitments for 2024 due to factors such as production stoppage for technical upgrades and price declines in major products during the first half of 2024. The goodwill of the corresponding assets was tested to be impaired, with an estimated impairment amount of around 0.5 billion yuan. After this impairment provision, the remaining carrying value of goodwill for Xintehuacheng assets is approximately 2.8 billion yuan.