Jiutian Chemical Group Limited (SG:C8R) has released an update.
Jiutian Chemical Group Limited reported a significant decline in their financial performance for Q1 2024, with revenues plummeting by 81% to RMB 44.91 million, compared to the same quarter last year. This decrease is attributed to falling sales volumes and reduced average selling prices for their key products, DMF and Methylamine, driven by a weaker demand in China’s economy. Consequently, the Group faced a substantial net loss of RMB 48.06 million for the quarter.
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