Shengxin Lithium Energy Forecasts Net Loss of CNY 130-190 Million in H1 2024, Swinging from Profit to Loss Year-on-Year

Shengxin Lithium Energy: Expected Net Loss of 130 to 190 Million Yuan in the First Half of the Year, Turning Profits into Losses Year on Year

Shengxin Lithium Energy announced on July 10 that it is expected to incur a net loss ranging from 130 million yuan to 190 million yuan in the first half of 2024, while the company reported a net profit attributable to shareholders of the parent company of 611 million yuan in the same period last year. The company's performance in the first half of 2024 has declined significantly compared with the same period last year, primarily due to the impact of the market environment in the lithium battery new energy industry during the reporting period, which has led to a significant decline in lithium salt prices compared with the same period last year, thus affecting the company's profits.