**Star News, Tianma New Materials released a performance forecast, and it is expected that the annual attributable net profit in 2023 will be about 1223770,000 yuan.
The announcement explained the reasons for the change in performance:
During the reporting period, the company's performance decreased compared with the same period last year, mainly due to the fact that the company's litigation case with Hebei Jinli New Energy Technology Co., Ltd. (hereinafter referred to as "Jinli Co., Ltd.") is currently in the first instance judgment, and the second instance has not been adjudicated. For details of the case, please refer to the "Announcement on the Progress of Litigation Involved" (Announcement No.: 2023-119) disclosed by the company. In accordance with the provisions of the Accounting Standards for Business Enterprises of the People's Republic of China, in accordance with the principle of prudence, the Company made a separate provision for litigation matters during the reporting period, and after preliminary accounting by the Company's financial department, it was proposed to accrue non-operating expenses of approximately 1,828270,000 yuan, the full provision for bad debts of 3.9 million yuan owed by Jinli and its Tianjin subsidiary, affecting the net profit attributable to shareholders of the listed company of about 1,852380,000 yuan, the final amount of withdrawal needs to be determined after audit by the accounting firm. In response to the above cases, the company attaches great importance to it, hires a team of professional lawyers, asserts its legitimate rights and interests in accordance with the law, and obtains the first-instance judgment in favor of Tianma New Materials in the lawsuit with Hubei Jiangsheng New Materials *** Jinli Co., Ltd.'s wholly-owned subsidiary, and the second-instance judgment upholds the fair ruling of the original judgment, and the amount owed is 7$80,000 and interest have been recovered. The company will adhere to the original intention, and constantly upgrade the production line and production process on the premise of ensuring the best high-quality products of downstream customers, and will also positively, legally and compliantly advocate and safeguard the legitimate rights and interests of the company, and protect the rights and interests of the company and investors. Excluding the above-mentioned litigation matters, the net profit attributable to shareholders of the listed company in the reporting period was 3,076140,000 yuan, down 1368%;Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 2,580810,000 yuan, a year-on-year decrease of 1662%。The main reason: Affected by the changes in downstream market demand, the product sales structure has changed, which has affected the comprehensive gross profit margin to a certain extent. With the steady release of downstream consumer electronics demand and the completion and operation of new production lines, the company will continue to optimize the product structure, continue to promote the research and development and sales of high-end products, and form a multi-level product structure.
Tianma New Material's third quarter report for 2023 shows that the company's main revenue is 13.6 billion yuan, down 589%；Net profit attributable to the parent company was 233250,000 yuan, a year-on-year decrease of 2689%；Deduct non-net profit of 1912360,000 yuan, a year-on-year decrease of 3123%；In the third quarter of 2023, the company's single-quarter main revenue was 5407810,000 yuan, an increase of 29 year-on-year44%；The net profit attributable to the parent company in a single quarter was 892290,000 yuan, a year-on-year decrease of 2111%；The non-net profit deducted in a single quarter was 769030,000 yuan, a year-on-year decrease of 2049%；The debt ratio is 1248%, investment income 241280,000 yuan, financial expenses - 58620,000 yuan, gross profit margin of 2676%。
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