Huayou Cobalt is a high-tech enterprise engaged in the mining, beneficiation, smelting and deep processing of non-ferrous metals such as cobalt, nickel and copper. The company's main products are ternary precursors such as cobalt, nickel and copper and ternary cathode materials. There may be the following reasons for the decline of Huayou Cobalt's share price:

1. Market factors: Affected by the global economic situation, industry competition and other factors, the prices of non-ferrous metals such as cobalt, nickel and copper fluctuated greatly, which affected the company's performance and the stock price fell.

2. Company factors: The company's performance decline, poor financial situation, management team changes and other factors may also lead to the stock price decline.

3. Investor sentiment: Investors' expectations of the company's future development prospects, market sentiment and other factors may also affect the stock price.