On July 9th, GeLonghui reported that Shanghai Material Trading (600822.SH) estimated that the net income attributable to the mother company's owners in the first half of 2024 will be around 25 million yuan, a decrease of approximately 132.0738 million yuan, or a decrease of approximately 84.08% compared with the same period of the previous year, according to preliminary calculations by the financial department. It is expected that the net income attributable to the mother company's owners after deducting non-recurring gains and losses will be approximately 8.5 million yuan in the first half of 2024, a decrease of approximately 17.3216 million yuan or a decrease of about 67.08% compared with the same period of the previous year.
Affected by changes in supply and demand and price declines in the auto market, the company's automotive trade service industry has seen a decline in business climate. In addition, the overall demand in the warehousing and logistics industry has declined, resulting in a decrease in revenue and net income in the first half of 2024 compared to the same period of the previous year. In the same period of the previous year, the company generated investment income of about 0.126 billion yuan from the transfer of a 38.57% stake in Shanghai Aimi Meaning Electromechanical Equipment Chain Co., Ltd., a joint venture enterprise.