Henan JinMa Energy Co. Ltd. Class H (HK:6885) has released an update.
Henan Jinma Energy Co. Ltd. warns of an expected loss of RMB 150 to 170 million for the first half of 2024, a significant drop from the RMB 44 million income in the same period of 2023. This decline is mainly due to a 30% reduction in the profit margin of their coke segment, as the cost of coal, the raw material for coke, remained high relative to the selling price of coke. Shareholders and potential investors are cautioned to be prudent when dealing with the company’s shares.
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