On January 30, Gelonghui Technology (300477.SZ) announced that it expects a net loss of 530 million yuan to 75,000 yuan in 2023, after deducting non-net loss of 556 million yuan to 776 million yuan.

Affected by factors such as falling market prices, the price and gross profit of iron phosphate, the main product in the lithium battery cathode materials sector, declined, causing the net profit of the lithium battery cathode materials sector to drop sharply year on year, which in turn affected the company's net profit.