Gelonghui, January 29丨Yuxing Co., Ltd. (300305.SZ) announced the 2023 annual results forecast. Net profit attributable to shareholders of listed companies during the reporting period was 6 million yuan to 9 million yuan, down 93.51% to 95.67% from the same period last year; net profit profit after deducting non-recurring profit and loss was 0.0 million yuan to 3 million yuan, down 97.68% to 100% from the same period last year.
The year-on-year decline in the company's 2023 performance is mainly due to: (1) Since the second half of 2023, the downstream photovoltaic backpanel industry has mainly removed inventory, and sales of the company's main product, polyester film for photovoltaics, declined, and operating income declined year-on-year; in addition, the functional polyester film industry increased production capacity investment, supply increased, and industry competition intensified, the average sales price of the company's polyester film products declined, and gross margin declined year on year. (2) Interest charges on convertible bonds increased during the reporting period, and financial expenses increased year-on-year.