Jizhong Energy Resources (SHE:000937) expects to record a net profit attributable to parent of between 900 million yuan and 1.30 billion yuan in 2024, dropping up to 82% from 4.94 billion yuan a year earlier, according to a Shenzhen Stock Exchange disclosure on Wednesday.

Earnings per share will be between 0.25 yuan and 0.37 yuan, compared to 1.40 yuan in the previous year.

The coal mining and washing services provider attributed the forecast to the decline in the company's coal sales price as a result of the influence of supply and demand.

The company's shares fell more than 4% in recent trade.