Kunming Yunnei Power (000903.SZ) announced a preliminary net loss of 900 million to 1.2 billion yuan for the full year of 2024.

Kunming Yunnei Power (000903.SZ) announced its performance forecast for the year 2024, expecting a net loss of 900 million to 1.2 billion yuan attributable to shareholders of the listed company. In 2024, the traditional commercial vehicle engine market was impacted by factors such as the continuous increase in the penetration rate of new energy markets, slow recovery in terminal markets, and inventory pressure for enterprises. Overall demand did not meet expectations, leading to a decrease in engine product sales volume and sales revenue compared to the same period. In order to further seize the consumer market, the company increased its investment in research and development of new products, resulting in an overall increase in R&D expenses compared to the previous year. Additionally, the high asset-liability ratio due to two consecutive years of losses led to higher financial expenses, and the company's operating profit could not cover daily operating expenses, resulting in a negative net profit.