On March 6, GLONGHUI | Natsuan Energy Technology (01597.HK) announced that the Group expects to record a net loss of no more than RMB 15 million for the year ended December 31, 2023 (“Fiscal Year 2023”), compared with a net profit of RMB 5.374 million for the year ended December 31, 2022.
According to the announcement, the Group's losses for the 2023 fiscal year were mainly due to the energy storage business's related construction expenses in the 2023 fiscal year; at the same time, the gross margin of sales pitch control system products decreased due to market competition.