Xiamen XGMA Machinery (600815.SH) announced on July 9th that according to preliminary calculations by the finance department, it is expected to achieve a net income attributable to the owners of the parent company of 5 million to 7.5 million yuan in the first half of 2024 and turn losses into profits. The expected net income attributable to the owners of the parent company after deducting non-recurring gains and losses in the first half of 2024 is expected to be -17 million to -25 million yuan.

During the reporting period, the company's sales revenue increased year-on-year; optimized and adjusted the product structure, implemented cost reduction measures to improve the operating margin; increased efforts to collect accounts receivable, recovered some overdue accounts receivable, and promoted the turnaround from loss to profit of the current period. During the reporting period, the company earned investment income using temporarily idle funds, recovered some overdue accounts receivable and reverted corresponding provision for impairment of accounts receivable written off to other income, and received government subsidies included in other income, which increased the profit of the current period.