Northern Navigation (600435.SH) pre-cut sales. Net profit is expected to drop 72.43% to 77.11% in 2024 from 44 million yuan to 53 million yuan

According to the Zhitong Finance App, Northern Navigation (600435.SH) announced a pre-reduction in 2024 performance. Net profit attributable to owners of the parent company in 2024 was 44 million yuan to 53 million yuan, a year-on-year decrease of 72.43% to 77.11%.

The main reasons for this decline in performance are as follows: the parent company was affected by factors such as the client unit's overall contract signing schedule and technical status, and some of the clearly defined requirements were unable to generate revenue during the reporting period due to late contract signing, which led to a decrease in revenue for the reporting period compared to the same period of the previous year; although the revenue for the current period declined year-on-year, fixed expenses such as production preparation occurred normally, leading to a year-on-year decline in net profit due to the year-on-year decline in net profit to mother during the reporting period.