Wealth management online business revenue saw a significant year-on-year increase. ChinaLin (002945.SZ) is expected to see a tremendous surge in net profit in 2024, ranging from 973% to 1289%.

ChinaLin (002945.SZ) released its performance forecast for the year 2024, expecting a net profit attributable to shareholders of 340 million yuan to 440 million yuan, a year-on-year increase of 973.03% to 1288.62%. It is expected that the non-recurring net profit will be 362 million yuan to 462 million yuan, a year-on-year increase of 78.26% to 127.50%. The main reasons for the performance change are as follows: the company continues to promote its technology and finance transformation strategy, with a significant increase in online wealth management business income. The self-operated investment business actively seizes market opportunities, further enhances asset allocation capabilities, and significantly increases income. In addition, the company made a provision for an estimate liability of approximately 228 million yuan for the arbitration matter of the special plan backed by assets of the Red Expo Trust in 2023, leading to a significant decrease in related operating expenses in 2024 compared to the previous year. This operating expense is classified as non-recurring gains or losses.