Changchai (000570.SZ) issued a pre-reduction announcement, with a net profit forecast for the year 2024 of 14-20 million yuan, a decrease of 81.57% - 87.10%.

Changchai (000570.SZ) released its 2024 annual performance forecast, with an expected net profit attributable to shareholders of the listed company of 14-20 million yuan, a year-on-year decrease of 81.57%-87.10%. Reasons for performance change: 1. Compared with the same period last year, the company's sales revenue increased year-on-year during the reporting period, with a higher proportion of sales of products with high gross profit margins, and the sales structure was optimized. 2. In the same period last year, the company signed a "Compensation Agreement for Housing Expropriation on State-owned Land in Zhonglou District, Changzhou" with the Housing and Urban-Rural Development Bureau of Zhonglou District, Changzhou, which increased the company's revenue in the same period last year. 3. At the end of the reporting period, as preliminarily calculated by evaluation agencies, the fair value of the company's equity in Jiangsu Housheng New Energy Technology Co., Ltd. has decreased compared to the beginning of the year. 4. At the end of the reporting period, the stock prices of Jiangsu Liance Electromechanical Technology (688113) and Kailong High Technology (300912) held by the wholly-owned subsidiary Changzhou Housheng Investment Co., Ltd. have decreased, leading to a decrease in fair value compared to the beginning of the period.