Summary by Moomoo AI
China Graphite Group has released its performance forecast for 2024, expecting a net loss after tax for the year not to exceed 14 million yuan, whereas in the same period of 2023, a net profit after tax of approximately 21.3 million yuan was recorded. The slowdown in growth in the downstream negative electrode Industry and intensified competition in the graphite market have led to a further decline in the sales price of the group's graphite products and sales volume of spherical graphite compared to last year, causing both revenue and profit to decrease.The company stated that the above data is based on preliminary assessments of the unaudited consolidated management accounts by the management and has not yet been reviewed or audited by independent auditors and the audit committee. It is expected that the unaudited consolidated financial results for the year 2024 will be released by the end of March 2025, and the final data may differ from this forecast.
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