On March 5, Ge Longhui | Huajin International Holdings (02738.HK) announced that for the year ended December 31, 2023, the Group is expected to record an unaudited comprehensive net profit of about RMB 80 million to RMB 90 million as of the year ended 31 December 2022, while an audited consolidated net loss of approximately RMB 106.5 million was generated for the year ended 31 December 2022.
The Board believes that the Group's anticipated net profit up to the year is mainly due (i) to the increase in revenue and sales volume of the Group's products; (ii) an increase in the average processing costs of the Group's cold-rolled steel products and galvanized steel products (that is, the difference between sales price and raw material cost); and (iii) a decrease in unit sales costs.