Kingenta Ecological Engineering Group (002470.SZ) disclosed its preliminary earnings, expecting a net profit of 48-70 million yuan for the full year of 2024, reversing the loss to profit compared to the previous year.

Kingenta Ecological Engineering Group (002470.SZ) released its performance forecast for 2024, expecting a net profit attributable to the shareholders of the listed company of 48-70 million yuan for the whole year, turning losses into profits compared to the previous year. During the reporting period, the company continued to improve its operational management level, promote channel and brand construction, and implemented measures such as optimizing production-supply-sales synergy and strengthening cost management to reduce costs and increase efficiency. The company's product gross margin steadily increased, leading to a year-on-year growth in net profit. During the reporting period, the company reached debt restructuring agreements with multiple financial institutions. In accordance with enterprise accounting standards and relevant accounting policies, gains from debt restructuring are included in non-recurring gains and losses; as the statute of limitations for shareholder lawsuits approaches an end, the estimated liabilities provisioned are reversed in this period based on the judgment and included in non-recurring gains and losses. The above-mentioned matters have a significant impact on the company's net profit after deducting non-recurring gains and losses.