Summary by Moomoo AI
China Graphite Group Limited ("China Graphite") announced on August 16, 2024 that it is expected to record a net loss of no more than 17.5 million yuan in the first half of 2024. In contrast, the net loss in the first half of 2023 was about 3.3 million yuan. The company pointed out that the increase in losses was mainly due to the slowdown in downstream market growth in the negative electrode industry, fierce competition in the graphite market, and the graphite export control measures implemented in December 2023. These factors led to a decrease in the sales price of graphite and the sales volume of spherical graphite, and further affected the company's revenue and profits. Despite the challenges, China Graphite stated that the company has...Show More