Xiangyang Automobile Bearing (000678.SZ) predicts a preliminary loss, estimating a net loss of 35 million yuan in 2024.

Xiangyang Automobile Bearing (000678.SZ) released its performance forecast for the year 2024, expecting a net loss of 35 million yuan attributable to the shareholders of the listed company for the whole year. During the reporting period, the company's performance showed a loss, but the magnitude decreased. One reason is the improvement in the performance of domestic companies, turning losses into profits. The domestic company has achieved significant results in the passenger car market and overseas market development, with operating income increasing year-on-year, especially the overseas market has shown continuous growth in recent years; the company's management efficiency has improved, cost reduction has achieved actual results, and benefits have significantly increased. Secondly, the losses of overseas subsidiaries have increased. The overseas Polish factory is continuously affected by geopolitical factors, with high costs and expenses and continued decline in profitability. The company has actively taken measures to adjust the leadership team of the Polish factory, formulate reform plans, implement rectification plans, and make every effort to reverse the unfavorable situation of the Polish factory.