Kan Specialties Material (002012.SZ) announced its performance forecast for the first half of 2024. The net profit attributable to shareholders of the listed company during the reporting period was between 13 million yuan and 17 million yuan, a decrease of 78.85%-72.34% compared to the same period last year; the net profit after deducting non-recurring gains and losses was between 8 million yuan and 12 million yuan, turning losses into gains compared with the same period last year; basic earnings per share were between 0.03 yuan/share and 0.04 yuan/share.
Reasons for performance changes: (1) Different scope of consolidation. The operating entity for this reporting period is Kaifeng New Material. The same period last year included several operating entities such as Kaifeng New Material, Kaifeng Special Paper, and Kane New Material. Subsequently, due to asset disposals, the scope of consolidation and revenue decreased, and the monetary funds from asset sales increased. (2) Different profit compositions. During the same period last year, the company formed a large amount of investment income due to the disposal of subsidiary equity and other factors, and the non-recurring gains and losses amounted to 82.84 million yuan, resulting in a larger net profit base for the same period last year. This year, there was no disposal of asset income, so the net profit decreased year-on-year. (3) Continuous optimization of operations. The company continued to implement refined management, cost reduction, and efficiency enhancement measures. The net profit of the main business, paper-based functional materials, increased significantly compared with the same period last year, so the net profit after deducting non-recurring gains and losses increased significantly.