Summary by Moomoo AI
NANJING PANDA ELECTRONICS CO., LTD. RELEASED ITS 2023 ANNUAL RESULTS FORECAST THAT NET PROFIT ATTRIBUTED TO ITS PARENT COMPANY OWNERS FOR THE YEAR WILL FALL 40% TO 60% COMPARED TO THE SAME PERIOD LAST YEAR, TO APPROXIMATELY 1,619.43 MILLION YUAN TO 2,429.15 MILLION YUAN. NET LOSS IS EXPECTED TO RANGE FROM A NET LOSS OF $327.29 MILLION TO A NET PROFIT OF $482.43 MILLION, DOWN APPROXIMATELY 56.67% TO 129.40% YOY, AFTER EXCLUDING NON-RECURRING LOSSES. In addition, due to special tax adjustments, Nanjing Erichin Panda Communications Co., Ltd. (ENC), paid taxes and interest totaling $1,424,241,068, affecting the company's results. The Company anticipates that the long-term equity investment in ENC could be reduced to 0, and the net loss attributable to its parent owners in 2023 could be approximately $23,233.48 million to $24,043.20 million. The Company emphasizes that the above results announcement data has not been audited and the final data will be based on the audited annual report.