Shinelong (01930) announced that the group expects that the profit attributable to owners of the company for the first half of 2024 (ending on June 30, 2024) will decrease by no less than 40% compared to the first half of 2023 (6 months ending on June 30, 2023), which was about RMB 13.8 million.
Futu Securities App News: Shinelong (01930) announced that the profit attributable to owners of the company for the first half of 2024 (6 months ending on June 30, 2024) is expected to decrease by no less than 40% compared to the first half of 2023 (6 months ending on June 30, 2023), which was about RMB 13.8 million.
The board of directors believes that the main reasons for the decline in profit in the first half of 2024 are the comprehensive effects of the following factors: decreased revenue from a major customer of the group, whose gross margin on automotive molds is relatively high compared to other automotive mold customers, resulting in a decrease in the gross margin of automotive mold sales; increased costs of factory and equipment relocation; increased provision for impairment of inventories of automotive mold finished products; increased R&D and consulting expenses, and increased provision for impairment of accounts receivable, resulting in general and administrative expenses increasing.
