BINHAI TEDA (08348) issued a profit warning, expecting the annual net profit attributable to shareholders to decrease by about 5 million yuan compared to the previous year.

BINHAI TEDA (08348) announces that the Board expects the Group to achieve a profit attributable to owners of the Company of approximately RMB 5 million for the year ending December 31, 2024, compared to approximately RMB 29.78 million for the same period in 2023. The Board believes that the main reasons for the decline in performance are: the decrease in production by automotive OEMs and lower prices for imported car services affecting Tianjin Toyota Logistics Co., Ltd., leading to a decline in business, coupled with the economic compensation paid for optimizing the personnel structure for the entire year, resulting in a significant decrease in performance; and Tianjin TEDA Alps Logistics Co., Ltd. and Dalian TEDA Alps Logistics Co., Ltd., joint ventures of the Company, affected by changes in the market environment, adjustments in business by upstream customers, and pricing pressures impacting performance.