Tian Microelectronics (688511.SH) announced its 2024 interim performance forecast on July 30th. According to preliminary calculations by the finance department, it is estimated that the net income attributable to the owner of the parent company in the first half of 2024 will be around 1.3887 million, a decrease of about 94.96% year-on-year. The net income attributable to the owner of the parent company after deducting non-recurring gains and losses is about -3.8805 million yuan, a decrease of about 125.50% year-on-year.
As the main product of the company, the fire suppression and explosion suppression system as a subsystem of the vehicle is affected by the annual task of the vehicle, resulting in a significant decrease in revenue for the first half of 2024. At the same time, compared with the same period last year, the government subsidies received were reduced, research and development expenses and impairment losses increased, resulting in a significant decrease in net income attributable to the owner of the parent company in the first half of 2024.