On July 22, Gelunhui reported that Zhejiang Tiantie Industry (300587.SZ) released its performance forecast for the first half of 2024, with a net income attributable to shareholders of the listed company of 79 million yuan to 83 million yuan, a year-on-year increase of 84.95% to 94.31%; and a net income of 33 million yuan to 37 million yuan after deducting non-recurring gains and losses, a year-on-year increase of 2.28% to 14.67%.
The company's revenue comes from vibration reduction/shock business, lithium business, other products, and other businesses. In the first half of 2024, some projects that were delayed, obstructed, or progressing slowly due to external factors such as the project phase were restored to normal construction, which had a positive impact on the revenue of the company's shock absorption business.
In 2023, due to the cyclical impact of the lithium industry, the growth rate of terminal demand slowed down, and the price of lithium salt products fell sharply. Therefore, at the end of 2023, the company made provisions for inventory depreciation of its lithium business products. In the first half of 2024, the price of lithium salt products rebounded, and with the production, consumption, and sale of the company's inventory, the provision for inventory depreciation will be reversed.
It is estimated that the impact of non-recurring gains and losses on the company's net income for the reporting period will be approximately 46 million yuan.