On January 12, Ge Longhui Group (600408.SH) announced that according to preliminary estimates by the company's finance department, net profit attributable to owners of the parent company is expected to be around -630 million yuan in 2023; net profit attributable to owners of the parent company after deducting non-recurring profit and loss is expected to be around -638 million yuan in 2023.

The company achieved net profit attributable to the owner of the parent company as a loss in 2023, mainly due to market fluctuations in the steel and coking industry. The sales prices of the company's main products, coke and steel, decreased year-on-year, while the purchase prices of the main raw materials, coal and steel billets, fell less than the sales price of its products.