Shanghai Huitong Energy (600605.SH) released a forecasted increase, with an estimated net profit of 90-100 million yuan in 2024, representing a year-on-year increase of 59.42% to 77.14%.

Shanghai Huitong Energy (600605.SH) announced that the company expects to achieve a net profit attributable to the owners of the parent company of 90-100 million yuan in 2024, an increase of 33.546 to 43.546 million yuan compared to the same period last year (as per statutory disclosure data), representing a year-on-year increase of 59.42% to 77.14%. During the reporting period, the company received compensation for the requisition of property at 624 Pingliang Road, with the reward expenses included in non-operating income, resulting in a significant increase in non-recurring gains and losses for the current period compared to the previous year. The company also disposed of its real estate business at the end of the previous reporting period, leading to a decrease in selling expenses and an increase in bank interest income for the current period compared to last year.