Gelonghui October 17?Jinshang Machine tool China (01651.HK) announced that the Group expects to record a profit attributable to the owners of the company for the six months ended 30 September 2023 of approximately RMB 220 million, which is approximately 27% less than the profit attributable to the owners of the company for the six months ended 30 September 2022 of approximately 300 million yuan (unaudited).
Based on the information currently available, the Board is of the view that the deterioration in the Group's financial performance is mainly due to a number of macroeconomic uncertainties, including the intensification of international geopolitical conflicts and the domestic macroeconomic downturn, resulting in reduced demand for CNC high-precision machine tools ("CNC high-precision machine tools") produced by the Group. In addition, the Board is of the view that the performance of the machine tool industry continues to undergo fluctuating adjustments in cyclical changes, and it is not unexpectedly that it has the opportunity to reduce the expected profit attributable to the company's owners for the six months ended September 30, 2023.
Nevertheless, the company will continue to improve its production efficiency, reduce costs, broaden the use of CNC high-precision machine tools and further expand its sales network in order to increase sales in China. In the context of the poor market environment, the company will try its best to maintain a stable dividend policy taking into account the interests of all shareholders.