Nord shares 2024 performance forecast: net profit fell sharply

Nord shares released its 2024 performance forecast, and it is expected that the full-year net profit attributable to the parent company will be a loss of 310 million yuan, a sharp decline compared with the profit of 27.3135 million yuan in the previous year. The non-net profit is expected to be a loss of 375 million yuan, compared with a loss of 134 million yuan in the same period last year. The main reason is that due to the influence of the domestic macroeconomic environment and the international trade environment, the sales growth of new energy vehicles has slowed down, resulting in an oversupply in the lithium battery copper foil market, fierce competition, and a sharp drop in copper foil processing fees. In addition, the price of copper, the main raw material for copper foil products, will generally rise in 2024, increasing the company's production costs.