Xingfa Group (600141.SH) disclosed the 2023 annual results pre-reduction announcement. The company expects the reporting period to fall under...
According to Zhitong Finance App News, Xingfa Group (600141.SH) announced a pre-reduction in its 2023 results. The company expects net profit attributable to shareholders of listed companies to be 1.36 billion yuan to 1.46 billion yuan during the reporting period, a year-on-year decrease of 75.05%-76.76%. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 1.28 billion yuan to 1.38 billion yuan, a year-on-year decrease of 77.20% to 78.85%.
During the reporting period, due to changes in macroeconomics and market supply and demand, the market sentiment of the company's agrochemical sector and silicone sector declined markedly, while sales prices and production and sales volume of products such as glyphosate raw materials and silicone DMC also declined to varying degrees year-on-year, leading to a marked decline in the sector's profit level. However, since the third quarter, the agrochemical sector market has gradually picked up, and product profitability has increased, driving the company's business performance to achieve significant month-on-month growth for two consecutive quarters.