Guang Dong Hua Feng New Energy Technology (002806.SZ) has forecasted a net profit of 70 million to 90 million yuan for the year 2024, turning a profit from a loss year-on-year.

Guang Dong Hua Feng New Energy Technology (002806.SZ) has released its performance forecast for the year 2024, expecting a net profit attributable to shareholders of the listed company of 70 million to 90 million yuan, turning a loss into a profit year-on-year. In terms of the new energy vehicle electronic control system, the company's largest customer's light and heavy trucks saw a significant increase in orders during the reporting period, with production increasing significantly compared to the previous year. The company's supporting quantity and sales revenue also increased accordingly. After years of market expansion and follow-up on new projects, the light truck models of another important customer saw a significant increase in orders during the reporting period. The company's new energy vehicle business saw a year-on-year increase in sales revenue of approximately 55% during the reporting period. As for the electrode foil business, sales of electrode foil increased due to the continuous recovery of demand in the electronic components industry, resulting in a sales revenue growth of approximately 30% compared to the same period last year. The increase in orders led to a significant increase in capacity utilization rate, a decrease in unit costs, and an increase in gross profit margin. The growth in revenue and gross profit margin resulted in a substantial increase in profit for the electrode foil business.