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Guangzhou Great Power Energy to Swing to Profit in H1

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Guangzhou Great Power Energy and Technology (SHE:300438) expects to post first-half net profit attributable to shareholders of between 800 million yuan and 866 million yuan, according to a Wednesday disclosure on the Shenzhen bourse.

The Chinese lithium-ion battery manufacturer's shares slumped 10% at the close of Thursday's trade.

The attributable loss a year earlier was 88.2 million yuan.

The company attributed the forecast to higher production, orders and sales, leading to an increase in its operating revenues.

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