Jiutian Chemical Group expects net loss for Q3
CATALIST-LISTED Jiutian Chemical Group expects to report a net loss for the third quarter ended Sept 30, after a preliminary review of its unaudited results, the group announced in a profit guidance filing on Tuesday after the market closed.
It said the losses are mainly due to lower profit margins resulting from a substantial increase in raw material costs, along with the low production level of its sodium hydrosulfite facility, arising from strict industry-wide environmental controls and poor product prices.
Further details will be available in the company's Q3 results, to be announced by Nov 14. Jiutian advised shareholders and potential investors to exercise caution when dealing in its shares.
Jiutian shares closed unchanged at 3.1 Singapore cents on Tuesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Li Auto sales disappoint amid tepid demand for electric cars
CapitaLand Ascendas Reit issues S$300 million green notes due 2034 at 3.73%
Apple slashes iPhone prices in China amid fierce Huawei competition
Gold hits high as Iran shock triggers haven support
Google invests one billion euros in Finnish data centre to drive AI growth
MAS issues 5-year prohibition order against ex-DBS representative for dishonest conduct