Xiangteng New Materials (001373.SZ) released its 2024 interim performance forecast, with an expected net income attributable to shareholders of the listed company of the first half of the year ranging from 75 million yuan to 100 million yuan, a year-on-year decrease of 59.84%-69.88%.

During the reporting period, the company continued to focus on its new display business, adhering strictly to product and process requirements, responding quickly to customer needs and expanding market share. However, due to increased competition in the industry, sales profits have declined, and the company has increased its expenses to actively develop the market. In addition, due to a smaller fluctuation in exchange rates compared to the same period last year, exchange gains have decreased, resulting in a decrease in the company's net income.