SINOHYTEC (02402) issues profit warning, expecting a net loss attributable to shareholders for 2024 of approximately 370 million to 520 million yuan, an increase in loss of 52.14% to 113.81% year-on-year.

SINOHYTEC (02402) announced that it is expected to achieve a net loss attributable to the owners of the listed company of approximately RMB 370 million to 520 million in 2024, an increase of 52.14% to 113.81% compared to the previous year. The net loss attributable to the owners of the listed company after deducting non-recurring gains and losses is approximately RMB 470 million to 630 million, an increase of 63.29% to 118.87% compared to the previous year. The announcement stated that the fuel cell industry is still in the early stages of commercialization, and the overall market size is relatively small. In addition, the domestic sales volume of fuel cell vehicles in 2024 is showing a year-on-year decline, leading to a decrease in the company's operating income compared to the same period last year. Furthermore, the credit impairment loss amount related to accounts receivable provisions increased compared to the previous year. These factors have further exacerbated the company's operating losses.