Guangdong Tianhe Agricultural Means Of Production (002999.SZ) expects a net profit of 17-25.2 million yuan for the year 2024, a year-on-year growth of 75-83%.

Guangdong Tianhe Agricultural Means Of Production (002999.SZ) released its 2024 annual performance forecast, expecting a net profit attributable to shareholders of the listed company of 17-25.2 million yuan for the whole year, a year-on-year growth of 75%-83%. During the reporting period, Shenzhen Agricultural Power Group and the low prices of upstream raw materials caused a downturn in the terminal demand for agricultural commodities, leading to a continuous weakening of the agricultural input market. Sales prices continued to fall, despite a stable increase in the year-on-year sales volume of the company's fertilizers and pesticides. However, due to further pressure on the gross profit margin of agricultural commodities, the company's main business revenue and product gross margin still showed varying degrees of decline, resulting in an overall decline in performance.