Shanghai Yanpu (605128.SH) is forecasting an increase. Net profit for the first three quarters is expected to increase by about 68% year-on-year to around 107 million yuan

According to the Zhitong Finance App, Shanghai Yanpu (605128.SH) disclosed a pre-increase in results for the first three quarters of 2024. The company expects to achieve net profit attributable to shareholders of listed companies in the first three quarters of 2024 of about 107 million yuan. Compared with the same period last year, it is expected to increase by about 444 million yuan, and is expected to increase by about 68% year on year. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss is expected to be about 101 million yuan in the first three quarters of 2024. Compared with the same period last year, it is expected to increase by about 400.3 million yuan, and is expected to increase by about 67% over the same period last year.

According to the announcement, the company began mass production of more new projects in 2024, the number of market orders was sufficient, the company's capacity utilization rate increased, and costs were reduced accordingly. The company continues to improve lean production and processes, continuously improve production efficiency, and reduce costs. New customer orders for the company's rail transit products - special railway containers increased month by month in the 3rd quarter. Capacity utilization increased rapidly, costs were reduced accordingly, and product profitability increased.