The Wall Street Journal reported on July 22 that about a quarter of Chinese listed companies are now losing money, compared to just 7% ten years ago.
For example, Jiangsu Lopal Tech, which supplies lithium iron phosphate for making power batteries, reported a loss of $169 million in 2023, wiping out profits from the past three years. The company blamed overcapacity in the Chinese lithium iron phosphate market and a slowdown in demand from domestic battery manufacturers.
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1/4 of China’s Listed Firms Don’t Profit: Rejected Dumping Abroad, Sluggish Local Demand
