Shenzhen WOTE Advanced Materials (002886.SZ) forecasts an increase in net profit in 2024 by 374.89% - 552.97% year-on-year.

Shenzhen WOTE Advanced Materials (002886.SZ) has announced its annual performance forecast for 2024, expecting a net profit attributable to shareholders of 28-38.5 million yuan, representing a year-on-year growth of 374.89%-552.97%. In 2024, the company will continue to adhere to its platform strategy for special high-performance polymer materials, actively expanding into areas such as high-frequency communication, computing servers, new energy vehicles, low-altitude economy, and semiconductors. Despite challenges such as industry cyclicality, depreciation of new production capacity, and expenses related to employee stock ownership plans, the company aims to achieve double-digit growth in net profit attributable to shareholders of the listed company and net profit excluding non-recurring gains and losses. It is expected to achieve an operating income of approximately 1.85 billion yuan, with a year-on-year increase of around 20%, and achieve consecutive quarterly growth in operating income. Among these, the increased sales of special high-performance polymer materials such as Liquid Crystal Polymer (LCP), special nylon, and Polyphenylene Sulfide (PPS) will play a positive role in improving the operating performance.