According to Zhitong Finance App News, Yiqiu Resources (601388.SH) released its 2023 annual performance forecast. It is expected to achieve net profit of 121.4071 million yuan to 196.4071 million yuan in 2023. Compared with 381.4.071 million yuan in the same period last year, it will decrease 18.5 million yuan to 260.01 million yuan, a year-on-year decrease of 48% to 69%.

Net profit attributable to the owners of the parent company is expected to be between RMB 13,3213 million and RMB 20.3213 million in 2023. Compared with RMB 36,3213 million in the same period of the previous year, it will be reduced by RMB 16.0000 million to RMB 230,0000 million, a decrease of 44% to 64% year-on-year.

Affected by macroeconomic factors during the reporting period, downstream demand was weak, and the sales price of the company's main products, aluminum alloy ingots, ferrous metals and non-ferrous metals fell, leading to a decline in sales scale. Although the price of raw materials for the products declined, the decline was less than the magnitude of the finished product, leading to a decline in the company's overall profit; the domestic Taicang plant was discontinued during the reporting period due to improved technical processes. However, the Group's overall production of aluminum alloy ingots declined over the same period, leading to a decline in the company's sales revenue and profit.