KMCL announced that it expects a net profit attributable to the parent company for the fiscal year 2024 to be between RMB -2.719 billion and RMB -1.82 billion. The net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be between RMB -3.018 billion and RMB -2.02 billion. The company anticipates that the net assets attributable to the parent company at the end of the fiscal year 2024 will be between RMB 1 billion and RMB 2 billion. The main reason for the company's losses during the reporting period is the continuous losses of its important subsidiary, Luxembourg, and its subsidiary KM Group, affected by external adverse factors, weak market demand for some products, intensified industry competition, high raw material prices, increased personnel placement costs, high financial expenses, and asset impairment losses, which are also one of the reasons for the annual losses