On July 20, | Songfa Co., Ltd. released a performance forecast in the evening. It expects a net profit loss of 43.8 million yuan to 37.5 million yuan for the first half of the year, and a net profit loss of 39.5096 million yuan for the same period last year. The main reason for the advance loss of performance in the current period was the decline in operating income in the first half of the year due to the economic downturn in domestic and foreign economies, shrinking demand, and insufficient orders; a decrease in gross profit due to the increase in common costs of amortization of products per unit of underutilization of production capacity; and the decline in gross profit due to processing of some long-storage inventory products at the beginning of the year.