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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.