Shandong Cynda Chemical (603086.SH) announced that, according to preliminary calculations by the company's finance department, it is expected to achieve net income attributable to shareholders of listed companies of 3 million yuan to 8 million yuan in the first half of 2024. Compared with the same period last year (statutory disclosure data), it will decrease by 43.5536 million yuan to 48.5536 million yuan, a year-on-year decrease of 84.48% to 94.18%. The company expects to achieve a net profit after deducting non-recurring gains and losses attributable to shareholders of listed companies of -2.9 million yuan to 2.1 million yuan in the first half of 2024; compared with the same period last year (statutory disclosure data), it will decrease by 45.489 million yuan to 50.489 million yuan, a year-on-year decrease of 95.59% to 106.09%.
In the first half of 2024, due to the continuous low product prices in the pesticide industry, the company's profitability showed a significant decline compared with the same period last year. In the face of a fierce market competition environment, we actively responded by increasing the intensity of technological transformation and upgrading, accelerating the development of overseas markets to improve production capacity utilization, and strengthening domestic marketing efforts to improve profitability. In the second quarter, the export volume of some of the company's main products and sales in the domestic formulation market increased year-on-year. At the same time, we continue to work on reducing costs and increasing efficiency, and the overall production and operation remain stable.