Coking coal and fine chemical producer China Risun Group (HKG:1907) expects an 88% to 93% year-over-year drop in net profit for 2024, a Friday filing with the Hong Kong bourse said.
The firm attributed the anticipated lower profit mainly to a decline in the average price of its coke, as well as higher finance costs and administrative and selling expenses contributed by Huhhot Risun China Gas Energy, which became a unit in May 2023.
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