Sanergy Group Ltd. (HK:2459) has released an update.
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Sanergy Group Limited has issued a profit warning for the first half of 2024, anticipating a net loss of up to $16.5 million, a significant increase from the $4.2 million net loss in the same period the previous year. This expected loss is largely due to suppressed market prices for graphite electrode, increased unit costs of sales, and investment in the development of a new graphite anode materials business expansion, particularly in the European market. Investors are cautioned to seek advice and exercise caution when dealing with the company’s shares, with detailed interim results to be published in late August 2024.
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