Jiutian Chemical Group Limited provided financial guidance for the first half ended 30 June 2023. The Group is expected to report a net loss for the first half of 2023. This was mainly due to a decline in the average selling prices of main products Dimethylformamide and Methylamine arising from the double effect of industry wide softening of demand and significant production capacity added by a new competitor since fourth quarter ended 31 December 2022.

The foregoing reasons are consistent with the Company's 12 months outlook provided in its first quarter ended 31 March 2023 results announcement made on 12 May 2023 which has guided that the business environment will remain challenging for the financial year ending 31 December 2023.