JiuTian Chemical Group

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#1
Rainbow 
Trading halt@7:42am 16Oct2020
https://links.sgx.com/1.0.0/corporate-an...0faf8e0cd4

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#2
Rainbow 
Jiutian Chemical 1Q2021 Result
Rev RMB439m (vs 199m)
GP  RMB138m (vs  13m)
NP  RMB 90m (vs  2m)
Div S$0.0035 (vs NIL)

As China’s post Covid-19 economic recovery gathered momentum, we continued to experience strong demand for our main products of DMF and methylamine from the start of 2021. Customers from high growth sectors of EV batteries, electronics, pharmaceutical and animal feeds continued to benefit from strong growth in both domestic and export markets, despite a traditionally slow quarter when Chinese New Year was celebrated over a 20 days period.

Going forward, we will focus on continuing to operate efficiently, and moving our utilisation rates higher to take advantage of the current favourable operating margins of our main products. Barring any significant resurgence of COVID-19 in China, we anticipate the production operations of the Group to be smooth and product prices to remain stable for the rest of the financial year.

The Group has been constantly exploring potential investment opportunities including acquisition of synergistic businesses or manufacturing facilities, and plant expansion where the market demand for the product is expected to be strong and sustainable. On this front, we are in the process of finalising an expansion plan comprising a new 100,000 ton methylamine plant adjacent to our current 120,000 ton methylamine/ DMF facility. Details of the proposed expansion plan will be announced in due course.

https://links.sgx.com/FileOpen/1Q2021%20...eID=666446

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