Gelonghui, January 26 | Bafang Co., Ltd. (603489.SH) announced the 2023 annual results forecast. The company expects to achieve net profit attributable to shareholders of listed companies of 120 million yuan to 150 million yuan in 2023. Compared with the same period last year, it will decrease by 362.1302 million yuan to 392.112 million yuan, a year-on-year decrease of 70.71% to 76.57%. The company expects to achieve net profit of 10 million yuan to 130 million yuan after deducting non-recurring profit and loss attributable to shareholders of listed companies in 2023. Compared with the same period last year, it will decrease by 381.0532 million yuan to 41.0532 million yuan, a year-on-year decrease of 74.56% to 80.43%.
Affected by factors such as geopolitical conflict and inflation, overseas terminal market sentiment is generally weak. Consumer demand is insufficient, high inventory within the channel is not digested as fast as expected, and the company's business situation has been adversely affected accordingly.