另外，预计扣除非经常性损益的净利润为-1.6亿元到-1.4亿元，与上年同期约-1.64亿元相比，减亏金额在400万元到2400万元之间。① Youon Technology expects a pre-loss of 80 million to -55 million yuan in 2024, potentially leading to a situation where there are consecutive three years of Net income losses; ② The company has set aside approximately 0.1 billion yuan for bad debts, but at the same time, hydrogen energy business revenue has seen significant growth, resulting in an overall reduction in losses; ③ After acquiring Zhejiang Kaibo at the beginning of 2024 to boost performance, Youon Technology has now set new goals for Lian Shi Technology.
According to a report on January 17 by Caixin News (Reporter Wu Chao), based on the performance forecast released by Youon Technology (603776.SH) last night, the company is likely to experience consecutive three years of Net income losses since 2022.
According to the performance forecast, Youon Technology expects to achieve a Net income attributed to shareholders of the listed company of -80 million to -55 million yuan in 2024, compared to approximately -0.127 billion yuan in the same period last year, representing a reduction in losses between 46 million to 71 million yuan.
Additionally, it is expected that the Net income excluding non-recurring gains and losses will be -0.16 billion to -0.14 billion yuan, which is a comparison to approximately -0.164 billion yuan in the same period last year, with a reduction in losses between 4 million to 24 million yuan.
Youon Technology explains that the main reason for the performance loss is primarily the impact of accounts receivable. The company states that the public bicycle business in its main business has not received timely payments due to some customers delaying payment, resulting in the company's bad debt provision of approximately 0.1 billion yuan, causing a significant decline in profits for 2024.
Secondly, the impact of the main business is significant. In 2024, the company's public bike project lacked incremental growth and saw a reduction in existing stocks, leading to a decrease in current revenue. Meanwhile, the company's hydrogen energy business revenue has increased significantly compared to the previous year, resulting in a rise in current profits compared to last year, overall reducing losses.
Caixin News reporters noticed that after facing performance pressure, Youon Technology began frequently making external acquisitions starting in 2024. Among these, at the beginning of 2024, Youon Technology acquired 88% of the shares of Zhejiang Kaibo Pressure Vessel Co., Ltd. (referred to as "Zhejiang Kaibo") for 0.167 billion yuan. This is a hydrogen energy Industry Chain enterprise, primarily focused on composite material-wrapped gas cylinders.
In the first half of 2024, Zhejiang Kaibo achieved revenue of 35.5 million yuan and a Net income of 16 million yuan. In the performance forecast, the company also mentioned that the growth of the hydrogen energy business in 2024 contributed to a reduction in profit losses.
After gaining performance support through acquisition, Youon Technology now has new goals. By the end of November 2024, Youon Technology announced plans to acquire 65% of Shanghai Lianshi Navigation Technology Co., Ltd. (hereinafter referred to as "Lianshi Technology") through the issuance of shares and cash payments.
Due to the unique aspects of the acquisition target in terms of technology and operation, this transaction quickly attracted widespread market attention. After resuming trading on December 5, Youon Technology's stocks hit the ceiling for three consecutive days. However, it fell sharply afterward, and from December 10 to the present, the company's stock has cumulatively dropped by about 39%.
According to data, Lianshi Technology had previously applied for an IPO on the Star but was unsuccessful. It is a company mainly engaged in Asia Vets, with outstanding performance in the field of Self-Driving Cars, and its core product, the Beidou Agricultural Machinery Autopilot System, has ranked among the top in market share for many years.
The acquisition plan shows that Lianshi Technology's revenue for the fiscal years 2022, 2023, and the period from January to June 2024 were 0.315 billion yuan, 0.422 billion yuan, and 0.236 billion yuan respectively, with net income of 52.87 million yuan, 63.27 million yuan, and 27.31 million yuan respectively.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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