Zhongtai Cryogenic(300435)2025-01-20 10:00Financial Performance - The company expects a net profit attributable to shareholders of between ¥22,800 million and ¥25,300 million, which represents a decrease of 27.73% to 34.87% compared to the previous year[3]. - After accounting for goodwill impairment, the company anticipates a net loss attributable to shareholders of between ¥8,500 million and ¥6,000 million, reflecting a decline of 124.28% to 117.14% year-on-year[3]. - The urban gas segment is expected to experience a significant decline in net profit, with a drop of over 60% compared to the previous year, primarily due to a 23% decrease in gas sales volume[7]. - The previous year's net profit for the urban gas segment was ¥14,700 million, indicating a significant decline in performance for the current year[7]. Goodwill Impairment - The company plans to recognize a goodwill impairment of approximately ¥31,300 million due to the significant decline in performance of Shandong Zhongyi Gas Co., Ltd.[8]. Revenue and Costs - The manufacturing segment did not see revenue growth due to extended delivery cycles from increased overseas projects, while labor costs rose due to an increase in staff[7]. - The company reported a bad debt provision of approximately ¥1,900 million for accounts receivable related to the "village-to-village" coal-to-gas conversion project[7]. Future Outlook - The company emphasizes the uncertainty in predicting future operating conditions due to potential fluctuations in gas procurement prices and residential gas price adjustments[9]. - The company will disclose detailed financial data in the 2024 annual report, scheduled for April 18, 2025[10]. - The company has communicated with the accounting firm regarding the performance forecast, and there are no significant disagreements[6].