IRICO Group New Energy (HKG:0438) expects to log a net loss attributable to the shareholders of the parent between 350 million yuan and 400 million yuan for 2024, 52% to 73% wider than 231 million yuan booked for the preceding year, a Thursday Hong Kong bourse filing said.

The solar photovoltaic glass manufacturer attributed the expected increase in net loss to a drop in prices of photovoltaic glass products during the second half of 2024, and provisions for impairment of certain assets of the photovoltaic glass during the reporting period.