On July 11th, Gelunhui reported that Shenghe Resources Holding (600392.SH) estimated that the net income attributable to shareholders of the listed company in the first half of 2024 would be between -48 million yuan and -72 million yuan, according to preliminary calculations by the finance department. The net income deducted for non-recurring losses and gains attributable to shareholders of the listed company in the first half of 2024 is expected to be between -53 million yuan and -77 million yuan.
During the reporting period, the sales volume of the company's main products increased, but due to the significant year-on-year decline in the market price of the main rare earth products, the relatively weak operation of the market price of zirconium and titanium products, and the lagging changes in import rare earth concentrate, coastal sand and other raw material costs, the average selling price and gross margin of the company's main products decreased significantly compared with the same period last year, resulting in a decline in the company's profit in this reporting period compared to the same period last year.