JL Mag Rare-Earth (HKG:6680, SHE:300748) expects to record a net profit attributable to the shareholders between 270.6 million yuan and 326.9 million yuan for 2024, lower than 563.7 million yuan logged for 2023, a Monday Hong Kong bourse filing said.
The company attributed the expected decrease to a year-on-year decline in the price of rare earth raw materials and intense market competition.
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