Guocheng Mining (000688.SZ) issued a profit warning, expecting a net loss of 85 million to 116 million yuan for the year 2024, turning from profit to loss compared to the previous year.

Guocheng Mining (000688.SZ) has released its performance forecast for the year 2024, expecting a net loss attributable to the shareholders of the listed company of 85 million to 116 million yuan, a year-on-year change from a profit to a loss. Reasons for the performance change: 1. The company's wholly-owned subsidiary Inner Mongolia Guocheng Resources Comprehensive Utilization Co., Ltd. started production during the reporting period, with high production costs during the ramp-up period, coupled with the low sales prices of the titanium dioxide industry during the reporting period, leading to a significant impact on the company's performance. 2. During the reporting period, the overall decline in lithium product market prices affected the performance of the company's equity invested subsidiary, Markang Jinxin Mining Co., Ltd., causing a significant decrease in investment income for the company.