Kelvin Technology Expects Deficit in 2023 Net Profit, Decreased Gross Margin on Lithium Battery Materials

Telah Terbit: Mar 19, 2024 10:04

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Kelvin Technology: Expected net profit for 2023 to be in deficit, company's gross margin on lithium battery materials products decreased. Kelvin Technology stated that, according to the preliminary calculation by the financial department, it is expected to achieve a net profit attributable to the shareholders of the listed company of -70 million to -35 million yuan in 2023, resulting in a deficit. The large investment in the lithium battery business and the decrease in the gross margin of the products are the main factors. During the reporting period, the company has made a significant investment in the layout of lithium battery materials business, including the expansion of lithium mines and the construction of lithium carbonate production lines, while also being affected by the decline in the lithium carbonate market, leading to a decrease in the gross margin of the company's lithium battery materials products.

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