Hainan Jingliang Holdings (000505.SZ) issued a profit warning, predicting a decrease of 76%-84% in net profit for the year 2024 to between 16.5 million and 24.5 million yuan.

Hainan Jingliang Holdings (000505.SZ) released its 2024 annual performance announcement, with an estimated net profit attributable to shareholders of the listed company of 16.5 million to 24.5 million yuan, a year-on-year decrease of 76% to 84%. The company expects a decrease in performance compared to the reporting period mainly due to the following reasons: oversupply in the oil sector leading to a decrease in product prices and increase in processing costs; intense competition in the branded packaged oil market resulting in lower sales volume and decreased profits in the oil sector; decreased sales volume and lower gross profit in the food sector due to market competition and sluggish traditional channels, impacting the profitability of the food sector.