CYG issued a profit warning, expecting a net loss of 600 million to 900 million yuan for the fiscal year 2024
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CYG expects a net loss of 600 million to 900 million yuan for the fiscal year 2024, with operating revenue declining compared to the same period last year. Revenue from smart grid equipment and services remains stable, but the revenue from new energy engineering contracting business has significantly decreased due to intense market competition. The performance of consumer electronics smart equipment and lithium battery cathode materials business has declined due to macroeconomic impacts. The company will increase R&D investment, leading to a heavier loss
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