On January 30, Gelonghui Electric Materials (300655.SZ) announced that net profit for 2023 is expected to be 12 million yuan to 18 million yuan, down 88.98% to 92.65% from the same period last year, after deducting non-net profit of 39 million yuan to 50 million yuan, down 54.01% to 64.13% from the same period last year.
Benefiting from the acceleration of the domestic substitution process in China's semiconductor materials industry, the company fully grasped the development opportunities of the industry and actively exploited the market. Shipments of major products such as photoresist and high-purity chemicals all increased, with shipments of high-purity hydrogen peroxide increasing by nearly 40% year on year; however, due to factors such as market environment, downstream demand and raw material price fluctuations, the price of NMP, the company's main lithium battery material product, and the price of sulfuric acid in industrial chemicals all dropped sharply year on year, leading to a year-on-year decline in the company's revenue and gross profit.