对于业绩下降的主要原因，公司表示，风电行业竞争加剧及产品价格下降，对公司业绩影响较大。On the evening of the 21st, Tongyu Heavy Industry announced that it expects a significant decline in performance of about 80% in 2024. According to the company's forecast data, there will be losses in the normally busy fourth quarter. The company stated that intensified competition in the wind power industry and falling product prices have greatly impacted its performance.
On January 21, the Financial Associated Press reported (by journalist Xiao Lianghua) that the competition in the wind power industry has extended to the component sector. On the evening of the 21st, Tongyu Heavy Industry (300185.SZ) issued an announcement predicting a significant decline of about 80% in performance for 2024. According to the company's forecast data, a loss was recorded in the fourth quarter, which is usually a peak season.
Tongyu Heavy Industry announced that it expects the net income attributable to shareholders for the 2024 fiscal year to be between 40 million yuan and 50 million yuan, which is a decrease of about 80.41% to 75.51% compared to 0.204 billion yuan in the same period last year. The net income after excluding non-recurring gains and losses is expected to be between 20.86 million yuan and 30.86 million yuan, reflecting a decrease of about 88.66% to 83.23% compared to 0.184 billion yuan in the same period last year.
Regarding the main reasons for the decline in performance, the company stated that intensified competition in the wind power industry and declining product prices have significantly impacted its performance.
Journalists from the Financial Associated Press tracked the industry and learned that the bidding prices for complete wind power systems continue to decline. In 2024, there have been multiple instances of bids below cost price. The complete wind power systems segment is not profitable, suppliers face significant pressure to reduce prices, and across the entire Industry Chain of wind power, except for a few segments with favorable competitive landscapes such as subsea cables, gross margins and performance are generally under pressure.
In the first three quarters of 2024, Tongyu Heavy Industry achieved revenue of 4.276 billion yuan and a net income of 54.68 million yuan. Based on this calculation, the company recorded a net loss of about 5-15 million yuan in the fourth quarter last year. In terms of the wind power industry, the fourth quarter is typically the peak season.
In this context, the company is also responding proactively. Tongyu Heavy Industry stated that despite challenges in the main business of wind power products, the market expansion for its marine forged products is positive against the backdrop of an improving global shipbuilding industry. Furthermore, in December 2024, the company successfully delivered its first 14MW wind power rotor room and signed related orders for Nuclear Power projects, promoting product structure upgrades.
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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