Ningbo Shenglong (603178.SH) Issues Profit Warning, Forecasts 2025 Net Loss Attributable to Shareholders of 181-219 Million Yuan

Stock News01-23 16:01

Ningbo Shenglong Automotive Powertrain System Co.,Ltd. (603178.SH) has released an annual profit warning for 2025, indicating an anticipated net loss for the year. Preliminary calculations by the finance department project the net profit attributable to shareholders of the listed company to be in the range of -181 million to -219 million yuan.

The primary reasons for the expected annual loss in 2025 are as follows: 1. A shift in product sales mix, with new energy products rapidly increasing their share; however, gross profit margins have been impacted by fluctuations during the mass production phase of new products and intense industry competition. 2. Significant additional expenses, including relocation and temporary storage costs, incurred due to the relocation of a new factory in North America this year. 3. A sustained increase in investment in new energy project development, with major projects like electronic pumps and high-pressure pumps maintaining substantial R&D expenditure; coupled with the impact of USD exchange rate fluctuations on financial expenses, this has led to higher period costs for the year. 4. In light of intensifying competition in the automotive market, and after a comprehensive assessment of profit expectations for certain products and the usage status of related assets, the company has prudently made impairment provisions for assets showing signs of减值.

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