DONGGUANG CHEM expects its annual net profit to decrease by approximately 53% year-on-year
DONGGUANG CHEM (01702.HK) announced that it expects the 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 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 sale 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
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