On July 10th, GeLongHui reports that Shenzhen Kingsino Technology (002548.SZ) announces its performance forecast for the first half of 2024, with a net income loss of RMB 39 million to RMB 43 million attributable to shareholders of listed companies, a decrease in net income loss of 81.92%-83.60% compared to the same period last year; after deducting non-recurring gains and losses, the net profit loss is RMB 37 million to RMB 41 million, a decrease in net income loss of 81.16%-83.00% compared to the same period last year; the basic earnings per share is a loss of RMB 0.048/share to RMB 0.053/share.
The significant reduction in net income compared to the same period last year is mainly due to the decrease in prices of fodder raw materials and continuous improvement of technical indicators in the company's pig production, resulting in a significant decline in breeding costs. Additionally, the market price of live pigs has rebounded in the second quarter, resulting in the company's profitability for the same period.
