GLONGHUI July 19丨Everbright Securities's research report on the 18th pointed out that the downturn in the economy has put pressure on Zhongxin Fluorimaterial (002915.SZ)'s Q2 performance. In the second quarter, the company expects to achieve net profit of 2,106 to -1.65 million yuan, down 139% to 142% year on year and down 172% to 177% month on month. In the first half of 2023, due to weak macroeconomic demand, prices and sales of the company's main products, such as pesticide intermediates, all declined, and corresponding profit weakened, resulting in a sharp decline in the company's performance over the same period last year. Considering that the current prices of the company's main products are still relatively low, plus the production and sales volume of newly built projects is yet to rise, the company's 23-24 year profit forecast was lowered, and the company's 25-year profit forecast was added. The company's net profit from parent is estimated to be 0.54 (down 76.8%) /1.24 (down 54.4%) /183 million yuan in 23-25, respectively. At present, the prices of the company's main products have gradually stabilized, and the profit situation is expected to improve. In addition, the company's new projects, such as fluorobenzene and fourth-generation refrigerants, have been completed and entered trial production. With the release of new projects, the company's performance is expected to grow, maintaining the company's “increase in holdings” rating.