The Zhitong Finance App learned that Naquan Energy Technology (01597) fell more than 24% and fell 24.19% at the time of publication to HK$4.92, with a turnover of HK$20,700.

According to the news, on August 3, the company announced that it expects to lose no more than RMB 8 million in the first half of 2023, while 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.