China Graphite Group Co., Ltd. ("China Graphite") announced on August 16, 2024 that it is expected to record a net loss of no more than RMB 17.5 million in the first half of 2024. In contrast, the net loss in the first half of 2023 was about RMB 3.3 million. The company pointed out that the increase in losses was mainly due to the slowing down of the downstream market growth in the negative electrode industry, intense competition in the graphite market, and the graphite export control measures implemented in December 2023. These factors led to a decrease in the selling price of graphite and the sales volume of spherical graphite, which in turn affected the company's revenue and profit. Despite facing challenges, China Graphite stated...Show More

China Graphite Group Co., Ltd. ("China Graphite") announced on August 16, 2024 that it is expected to record a net loss of no more than RMB 17.5 million in the first half of 2024. In contrast, the net loss in the first half of 2023 was about RMB 3.3 million. The company pointed out that the increase in losses was mainly due to the slowing down of the downstream market growth in the negative electrode industry, intense competition in the graphite market, and the graphite export control measures implemented in December 2023. These factors led to a decrease in the selling price of graphite and the sales volume of spherical graphite, which in turn affected the company's revenue and profit. Despite facing challenges, China Graphite stated that the company has its own mines to ensure a natural graphite supply and will adapt to the industry's competitive landscape and strive to improve its operating performance. The company emphasized that unaudited financial performance will be released by the end of August 2024 and may differ from the preliminary assessment. Shareholders and potential investors should act cautiously.