Gelonghui August 7th 丨Dongguang Chemical (01702.HK) announced that the Group's net profit for the six months ending June 30, 2023 is expected to decrease by about 50% compared to the same period up to 2022.
The decline in the Group's net profit was mainly due to the decline in overall gross profit and gross margin. The decline in overall gross profit and gross margin was mainly due to a decrease in revenue from sales of urea, the Group's main product, and mainly due to a year-on-year decline in the average sales price of related products.