According to the Zhitong Finance App, China Graphite (02237) announced its annual results for the year ended December 31, 2023. The Group's total revenue was RMB 202 million (same unit), a year-on-year decrease of 26.2%; gross profit of 73.66 million yuan, a year-on-year decrease of 45.8%; and net profit of 21.318 million yuan, a year-on-year decrease of 73%.

The announcement said that in 2023, growth slowed and competition from downstream customers intensified, leading to a corresponding increase in competition in the graphite industry, leading to a drop in the price of graphite products.