Huayou Cobalt Industry Addresses Revenue and Profit Growth Stagnation Due to Declining Metal Prices

Published: Jun 28, 2024 20:29

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On the evening of June 26th, Huayou Cobalt Industry responded to investors' questions about "why the company's revenue and profit growth have stagnated" on the investor interaction platform. It said that with the gradual release of the company's new production capacity, the shipment volume of its main products had increased to varying degrees year-on-year. However, since last year, the prices of energy metals such as nickel, lithium, and cobalt have fallen to varying degrees, resulting in a decline in product sales prices and a compression of profit margins. Therefore, revenue growth has been limited, and net profit attributable to shareholders has declined accordingly.

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