DONGGUANG CHEM issued a profit warning, expecting annual net profit to decrease by approximately 53% year-on-year
According to the Zhitong Finance APP, DONGGUANG CHEM announced that the group expects its net profit for the year ending December 31, 2024, to decrease by approximately 53% compared to the year ending December 31, 2023. The decrease in the group's net profit is mainly due to a decline in overall gross profit and gross profit margin. The decline in overall gross profit and gross profit margin is primarily due to a decrease in revenue from the sales of the group's main product, urea, which is mainly caused by a year-on-year decline in the average selling price of the product
According to the announcement from DONGGUANG CHEM (01702), the group expects its net profit for the year ending December 31, 2024, to decrease by approximately 53% compared to the year ending December 31, 2023. The decline in net profit is mainly due to a decrease in overall gross profit and gross profit margin. The decrease in overall gross profit and gross profit margin is primarily due to a reduction in revenue from the sales of the group's main product, urea, which is mainly caused by a year-on-year decline in the average selling price of the product
