Zhitong Financial APP News, Jiuyuan Group (00827) issued an announcement that it is expected to make a net loss of about 103 million yuan (the same unit below) in the six months ending June 30, 2023, a decrease of about 329 million yuan compared with a net profit of about 226 million yuan in the same period last year.
The announcement said that the group's loss was mainly due to the decline in the gross profit margin of the group's products. The gross profit margin of the Group's products fell as natural gas prices rose and the average sales prices of chemical and fertilizer products fell in the first half of 2023 compared with the same period last year. For the six months ended June 30, 2023, the average gross margin of the group's products is expected to be about 8.8%, compared with an average gross margin of about 30.9% for the same period last year.