It's entirely possible. For more than 3,000 listed companies, it is not uncommon for profits to increase or decrease substantially. Don't say that there is still a net profit of 200 million yuan, and things from positive to negative abound. The reasons are different:

1, the huge loss of performance of subordinate branches led to the drag of the parent company;

2. The failure of M&A leads to bad assets and losses;

3. Due to major changes in national policies or industrial policies, the company's performance has dropped significantly;

4, export-oriented companies, due to trade wars, costs have risen sharply, and performance has fallen sharply.

5, epidemic or major accidents, floods, earthquakes and other force majeure caused the enterprise can not normal production, resulting in a sharp drop in profits or even losses.

6. The company's own reasons, poor management, major personnel adjustment, sharp rise in raw material costs, sharp increase in expenses and other reasons.

7, financial statements fraud, financial personnel, accounting firm personnel statistical errors and other wonderful reasons occur from time to time.

This is the reason that can be thought of for the time being. I believe there should be more reasons for the sharp drop in profits.