According to Zhitong Finance App News, Gengxing Co., Ltd. (600753.SH) disclosed a pre-loss announcement for the 2023 annual results. The company expects a net loss attributable to the owner of the parent company during the reporting period of about 52.7095 million yuan, which changed from profit to loss over the previous year. The net loss attributable to the owner of the parent company after deducting non-recurring profit and loss was approximately $54.647 million.

In 2023, the company actively promoted business strategy transformation and actively reduced the scale of traditional business. Combined with market factors such as large fluctuations in current coal prices and insufficient overall demand in the black industry chain, the company's original commodity trading business scale was drastically reduced. At the same time, the new business is still in its infancy and has not yet generated large-scale revenue. In addition, due to the company's strategic transformation and new business development needs, the company's various costs and expenses such as human resources administration, office space leasing, marketing development, and IT investment have risen sharply.