Tongling electric: The net profit for 2024 is expected to decrease by 45.45% to 59.99% year-on-year

Tongling Electric announced on the evening of January 20 that the net profit attributable to shareholders of the listed company for the year 2024 is expected to be between 66 million and 90 million yuan, a decrease of 45.45% to 59.99% compared to the same period last year. In 2024, due to the decline in downstream photovoltaic module prices, the prices of various upstream auxiliary materials have generally been adjusted downwards, putting pressure on the profits of the entire photovoltaic industry chain, with the average price of junction boxes significantly lower than in 2023; in 2024, as one of the main materials for the company's main products, copper prices have remained high and volatile, and the combination of these two factors has led to a decline in the company's profitability for 2024