According to the Zhitong Finance App, Naquan Energy Technology (01597) announced that the group expects a loss of no more than RMB 8 million in the first half of 2023, while the net profit for the same period in 2022 will be RMB 3.218 million.
The announcement stated that losses during the period were mainly due to the group's subsidiary Jiangsu Naquan Zhenyuan Energy Storage Technology Co., Ltd. incurred related construction period expenses in mid-2023; at the same time, due to market competition, the gross margin of the Group's sales propeller control system products decreased.