Henan Jinyuan Hydrogenation Chemical Co., Ltd. (Jinyuan Hydrogenation) issued a profit warning, projecting a drop in performance of approximately 40% in the first half of 2024 compared to the same period last year. This expected decline is mainly due to the narrowing of gross margins of the company's main product, hydrogenated benzene chemical, as the product price and the price of raw material crude benzene do not rise in the same proportion. Although the crude benzene price and the hydrogenated benzene chemical price in the first half of 2024 rose at a comparable rate to the second half of 2023 and gross profit has improved, it still cannot offset the overall decline. This estimate was based on a preliminary review of un-audited consolidated management accounts, and final performance will be disclosed at the end of August 2024. The company reminds shareholders and potential investors to exercise caution in trading.

Henan Jinyuan Hydrogenation Chemical Co., Ltd. (Jinyuan Hydrogenation) issued a profit warning, projecting a drop in performance of approximately 40% in the first half of 2024 compared to the same period last year. This expected decline is mainly due to the narrowing of gross margins of the company's main product, hydrogenated benzene chemical, as the product price and the price of raw material crude benzene do not rise in the same proportion. Although the crude benzene price and the hydrogenated benzene chemical price in the first half of 2024 rose at a comparable rate to the second half of 2023 and gross profit has improved, it still cannot offset the overall decline. This estimate was based on a preliminary review of un-audited consolidated management accounts, and final performance will be disclosed at the end of August 2024. The company reminds shareholders and potential investors to exercise caution in trading.