China Graphite Group Limited (the "Company") announced its interim performance for the six months ended June 30, 2024. During the period, the Group's total revenue was approximately RMB 3.64 billion, a year-on-year decrease of 22.8%. The gross profit was approximately RMB 0.29 billion, with a gross margin of 8.0%, compared to 35.8% in the same period last year. The net loss was approximately RMB 1.62 billion, compared to a net loss of approximately RMB 0.33 billion in the same period last year. Zhao Liang, Chairman, Executive Director and CEO of the Company, stated that in the face of a challenging business environment, the Group has actively resumed production and promoted cost reduction and efficiency improvement. However, due to the impact of industry structure and market environment...Show More

China Graphite Group Limited (the "Company") announced its interim performance for the six months ended June 30, 2024. During the period, the Group's total revenue was approximately RMB 3.64 billion, a year-on-year decrease of 22.8%. The gross profit was approximately RMB 0.29 billion, with a gross margin of 8.0%, compared to 35.8% in the same period last year. The net loss was approximately RMB 1.62 billion, compared to a net loss of approximately RMB 0.33 billion in the same period last year. Zhao Liang, Chairman, Executive Director and CEO of the Company, stated that in the face of a challenging business environment, the Group has actively resumed production and promoted cost reduction and efficiency improvement. However, due to the impact of industry structure and market environment, the company's revenue and profit performance in the first half of the year have both declined. On February 21, 2024, the Company obtained the official approval from the National Forestry and Grassland Administration to use a forest land near the Beishan Mine to build a new beneficiation plant and processing plant, and plans to increase graphite production to ensure supply and provide security for future development. The Company's shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 2237.