*ST Suzhou THVOW Technology (002564.SZ) has announced its financial results forecast for the first half of 2024. Preliminary calculations by the finance department show that the net income attributable to shareholders of the listed company is expected to be CNY 16 million, compared to a loss of CNY 648.0544 million in the same period last year. After deducting non-recurring gains and losses, the net loss was CNY 27.5 million, compared to a loss of CNY 668.9756 million in the same period last year. Basic earnings per share were CNY 0.02.
Reasons for performance changes: In the same period last year, the company suffered a large amount of losses due to the performance of its subsidiary, Zhongji Guoneng Power Engineering Co., Ltd. (hereinafter referred to as "Zhongji Power"). At the end of 2023, the company carried out a major asset restructuring, and divested Zhongji Power which had continuously affected the company's performance in recent years. During this reporting period, the company no longer consolidated Zhongji Power's financial statements and was no longer affected by its performance. During this reporting period, the company has further improved the operating ability of each business sector through continuous operational improvements, continuously improved the company's cash flow by strengthening the recovery of overdue payments, and also made efforts to communicate and negotiate with financial institutions to reduce financing costs. It is expected that the operating performance in this reporting period will achieve a turnaround from losses to profits compared to the same period last year.