Guangzhou Tinci Materials Technology (SHE:002709) forecasts its attributable profit will plunge 72.5% to 76.73% to between 440 million yuan and 550 million yuan in 2024 from 1.89 billion yuan in the year-ago period, according to a Wednesday filing with the Shenzhen Stock Exchange.
Earnings per share are seen to fall to between 0.23 yuan and 0.27 yuan from 0.99 yuan a year earlier.
The foreseen decline is attributable to lower demand from the lithium battery material industry chain and low unit profits, especially from electrolyte products, the filing said.
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