Huadong Heavy Machinery (002685.SZ) released the performance forecast for the first half of 2024, with a net profit attributable to shareholders of the listed company of RMB 20-30 million, compared with a loss of RMB 45.5145 million in the same period last year. After deducting non-recurring gains and losses, the net profit attributable to shareholders of the listed company is RMB 18-27 million, compared with a loss of RMB 55.9671 million in the same period last year, with a basic earnings per share of RMB 0.0198-0.0298 per share.
During the reporting period, the shipping market improved, and the company seized the opportunity of updating and transforming port machinery equipment. With the increase of the company's sufficient order backlog and the improvement of its market share both domestically and internationally, the delivery of key port machinery projects and customer services was done well, and the orders in hand during the reporting period were pushed forward on schedule.
The CNC machine tool business is a major asset sale business of the company in 2023, and the current restructuring is being implemented. During the reporting period, the company further increased the collection efforts of accounts receivables, collected some old debts, wrote off credit impairment losses, signed new orders and shipped them during the reporting period, and digested the discounted inventory.
During the reporting period, due to the overall decline and continuous decrease of PV industry chain prices and the continuous low price of solar cell prices, the company's photovoltaic cell module business incurred losses.