Wangneng Environmental's subsidiary will suffer losses in 2023

Wangneng Environment's holding subsidiary Zhejiang Lixin New Materials Technology Co., Ltd. had an operating income of 80.8187 million yuan in 2023, but an operating profit of -11.3596 million yuan and a net profit of -103.7539 million yuan, showing a loss situation. The first phase of Zhejiang Lixin's ternary battery recycling project was completed and put into production in early 2022.