Shenyang Chemical Industry (000698.SZ) announces an expected net loss of 168 million to 231 million yuan for the year 2024.

Shenyang Chemical Industry (000698.SZ) has announced its performance forecast for the year 2024, expecting a net loss attributable to the shareholders of the listed company in the range of 168 million yuan to 231 million yuan, a decrease of 49.59% to 63.34% compared to the previous year. During the reporting period, the company's subsidiary Shenyang Paraffin Chemical Co., Ltd. entered bankruptcy proceedings, causing the company to lose control over it and therefore it is no longer included in the consolidated financial statements. The overall performance of the listed company decreased compared to the previous year. Following a prudent approach, the parent company made provisions for credit impairment losses, resulting in a decrease in the total profit of the parent company compared to the previous year. In terms of production and operation, the company and its subsidiary Sinochem East China (Zibo) Co., Ltd. optimized their personnel structure, deeply explored cost reduction potential, and implemented a series of management measures to improve the company's performance.