JIANGNAN CHEMICAL(002226) 证券时报网·2025-01-23 02:32Core Viewpoint - Jiangnan Chemical (002226.SZ) expects a significant increase in net profit for 2024, driven by stable performance in the civil explosives industry and strategic capacity adjustments [1][2] Group 1: Financial Performance - The company forecasts a net profit attributable to shareholders of between 866 million yuan and 1.098 billion yuan for 2024, representing a year-on-year growth of 12.02% to 42.02% [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between 793 million yuan and 1.024 billion yuan, with a growth rate of 0.05% to 29.33% [1] - Basic earnings per share are anticipated to rise to between 0.3269 yuan and 0.4145 yuan [1] Group 2: Industry Insights - The civil explosives industry is showing signs of recovery, with production and sales values in December increasing by 5.13% and 4.19% year-on-year, respectively [1] - The total tax revenue for the industry reached 1.167 billion yuan in December, marking a substantial year-on-year increase of 55.74% [1] - For the entire year, the cumulative blasting service revenue was 35.311 billion yuan, reflecting a year-on-year growth of 4.26% [1] Group 3: Strategic Positioning - Jiangnan Chemical is recognized as a leader in the civil explosives sector, with a strong presence in Xinjiang and overseas markets, benefiting from infrastructure recovery [2] - The company has secured contracts worth 2.747 billion yuan for blasting service projects scheduled for execution from July to December 2024, with a significant portion located in the western regions of China [2] - The company’s capacity in Xinjiang is projected to reach 170,000 tons by June 2024, positioning it to capitalize on the favorable market conditions [2]