Baiyang Investment Group, Inc. (002696.SZ) announced a forecasted net loss of 8-15 million yuan for the year 2024.

Baiyang Investment Group, Inc. (002696.SZ) has released its performance forecast for the year 2024, expecting a net loss attributable to shareholders of 8-15 million RMB, and a non-recurring net loss of 18-25 million RMB. In the first half of the year, the company's overall operations did not meet expectations due to factors such as the rise in domestic raw material fish prices and shipping costs, a decrease in fish meal prices, and a decline in the company's aquaculture feed sales. In the second half of 2024, the company adjusted its management team, optimized its strategic direction and operating strategies in a timely manner, and saw significant improvement in its operating performance. In terms of exports of aquatic food products, the overseas demand for tilapia steadily increased, and with the decline in raw material fish prices and the appreciation of the US dollar in the second half of the year, the company's tilapia product exports increased in volume and value, and its market share improved. Feed sales also showed a steady recovery in the second half of the year, stabilizing the company's operating performance. Additionally, in accordance with the Enterprise Accounting Standards and company accounting policies, the company plans to set aside impairment provisions for some assets that may be impaired during the reporting period.