SANFER ELECTRIC(605336)2025-01-15 11:20Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 53 million and 79 million yuan, a decrease of 110.67 million to 136.67 million yuan compared to the previous year, representing a decline of 58.35% to 72.06%[2] - The net profit excluding non-recurring gains and losses is projected to be between 43 million and 64 million yuan, down by 104.56 million to 125.56 million yuan year-on-year, reflecting a decrease of 62.03% to 74.49%[2] - The total profit for the previous year was 217.86 million yuan, with a net profit attributable to shareholders of 189.67 million yuan[4] Market Conditions and Challenges - The decline in profit is primarily due to a slowdown in market demand for integrated stoves and increased competition, leading to lower sales volume and fewer new orders[5] - Changes in consumer behavior, including a shift towards more cost-effective products, have resulted in a decrease in average product prices[5] Strategic Initiatives - The company is actively expanding its product line to include integrated washing kitchen appliances and is investing in whole-house customization, although this has not fully compensated for the revenue decline[5] - The company has made adjustments to control fixed operating costs, but the weakening of scale effects has led to an increase in expense ratios despite a reduction in total expenses[5] Forecast Accuracy and Adjustments - There are no significant uncertainties affecting the accuracy of this earnings forecast[6] - The forecast data is preliminary and subject to change pending the audited annual report for 2024[7]