Kingland Technology (000711.SZ) announced its 2024 interim performance forecast. The net income attributable to shareholders of the listed company during the reporting period was a loss of 40-68 million yuan, compared to a loss of 643.9403 million yuan in the same period last year. After deducting non-recurring profits and losses, the net income was a loss of 38.5-66.5 million yuan, compared to a loss of 604.0319 million yuan in the same period last year. Basic earnings per share were a loss of 0.01-0.02 yuan/share.
The main reason for the loss in performance was that after the company completed bankruptcy reorganization at the end of 2023, production and operation had gradually returned to normal. However, in the first half of 2024, the production capacity had not been fully released, including the bank accounts frozen during the bankruptcy reorganization period, which were not gradually unfrozen until May 2024. Moreover, the assets gradually acquired by the company in the first half of 2024 will only begin to contribute to the performance in the second half of the year. Therefore, the profit-making capacity of the company has not been reflected in the financial statements for the first half of the year. At the same time, during the first half of 2024, the aging of accounts receivable of the subsidiary increased, and the company strictly followed the accounting standards to increase the provision for bad debts as required.