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China Graphite Group Ltd. ( (HK:2237) ) has shared an update.
China Graphite Group Limited announced an expected net loss of up to RMB14.0 million for the fiscal year 2024, a significant decline from the RMB21.3 million net profit recorded in 2023. The downturn is attributed to a slowdown in the downstream market growth of the anode industry and increased competition in the graphite market, which led to decreased sales prices and volumes of their graphite products.
More about China Graphite Group Ltd.
China Graphite Group Limited is a company incorporated in the Cayman Islands, primarily engaged in the graphite industry. The company focuses on the production and sale of graphite products, with a particular emphasis on the anode industry.
Average Trading Volume: 490,517
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$584M
Learn more about 2237 stock on TipRanks’ Stock Analysis page.