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Jiutian Chemical posts RMB162 mil loss for 1HFY2023, ending three years of profits

Jovi Ho
Jovi Ho • 2 min read
Jiutian Chemical posts RMB162 mil loss for 1HFY2023, ending three years of profits
Jiutian’s chairman, Han Lianguo, says, “We regret to announce a loss in 1HFY2023 after three years of continuous profits from FY2020.”
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Jiutian Chemical Group (SGX:C8R) has recorded a loss of RMB162 million ($30.32 million) for the 1HFY2023 ended June, down from a net profit of RMB385.5 million this time last year.

Total revenue for 1HFY2023 fell 73% y-o-y to RMB393.1 million, while cost of sales fell 40% y-o-y to RMB540.3 million, “mainly due to lower sale volume”, says Jiutian.

Compared to earnings per share of 19.39 RMB cents this time last year, 1HFY2023 loss per share is 8.16 RMB cents.

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