Gelonghui, January 25, 丨 China's Hanwang (03788.HK) announced that compared with a loss of RMB 53.1 million during the year ending December 31, 2022, the Group expects to turn a loss into a profit in 2023 and record a profit of not less than RMB 140 million. This is mainly due to increased sales volume of iron concentrate products; as well as a reduction in the cost of a single ton product due to continuous stable production and increased production and sales volume, which in turn led to a year-on-year decrease in losses in the high-purity iron business.
In 2023, the Group produced 1.0 million tons of iron concentrate, an increase of 29.37% over the previous year; 881,000 tons of high-purity iron, an increase of 31.17% over the previous year. Continuous and stable production ensures an increase in the Group's revenue and a reduction in the cost of a single ton product.