Aowei (HKG:1370) expects an attributable loss of up to 350 million yuan for the year 2024, down from 549.1 million yuan a year prior, a Tuesday filing with the Hong Kong bourse said.

The iron ore firm attributed the anticipated loss mainly to an impairment loss of property, plant, and equipment, a lower production and sales volume of sand and gravel materials, and a decline in the selling price of gravel materials.

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