Anada: The net profit for 2023 is expected to be 54.9831 million yuan to 80.463 million yuan, a year-on-year decrease of 70% to 79.5%

Anada (SZ 002136) released its performance forecast on January 31. It is estimated that the net profit attributable to shareholders of listed companies in 2023 will be 54.9831 million yuan to 80.463 million yuan, a year-on-year decrease of 70% to 79.5%; basic earnings per share will be 0.2557 yuan to 0.3742 yuan. The main reason for the change in performance was that during the reporting period, the price of iron phosphate continued to decline during the year, with a large year-on-year decline. The corresponding part of inventories also showed signs of impairment. The impairment loss accrued for inventories increased in the current period, and the gross profit of iron phosphate products dropped significantly. The significant year-on-year decrease in profits of subsidiaries iron phosphate products was the main factor leading to the decline in performance for the current period. During the reporting period, the market demand for titanium dioxide products was weak, the sales price of products decreased compared with the same period last year, and the gross profit margin of titanium dioxide products decreased slightly.