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Jiutian Chemical reduces 2Q2009 loss to RMB 16.4 million over 1Q2009 (12 Aug 09)

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  • Revenue: -47% (2Q09), -49% (1H09)
  • Net Profit: NM (2Q09), NM (1H09)
  • Press Release: Capacity utilization at its first DMF plant improved from 55% in 1Q2009 to 84% in 2Q2009 which helped reduced unit costs despite higher raw material costs
  • Average selling prices improve marginally in 2Q2009
  • Outlook: As expected, recovery of orders from the Group's downstream customers has been slow as exports orders continued to be weak.
  • Te ‘green shoots’ that have been reported in some major economies would need to be translated to improve consumer confidence and purchase before they can be translated to improvement in export orders for its downstream customers.
  • This improvement has been felt but is expected to be gradual.
  • Management is expecting to see such orders to gradually improve in 2H2009 and is in the midst of preparing to resume production at the Group’s second DMF plant to increase its production output.
FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 38,795 40,547
2008 80,212 75,834 59,284 37,156 252,486
2007 66,847 59,662 55,965 119,194 301,668
2006 51,665 50,035 63,324 71,748 236,772
2005 NA NA 47,750 46,016 188,221
2004 NA NA NA NA 167,644
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 (20,993) (16,406)
2008 5,591 7,028 (3,192) (58,763) (50,819)
2007 20,003 18,685 14,328 8,278 61,294
2006 14,291 13,027 19,290 21,038 67,646
2005 NA NA 9,541 9,192 41,354
2004 NA NA NA 20,566
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA NA NA
2007 NA 0.00177 NA
2006 NA 0.0107 NA
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Bonus / Rights / Stock Split

Date Type Details
2007-10-10 Bonus BONUS WARRANT OFFER OF 1 FOR 5
2007-09-26 Stock Split STOCK SPLIT OFFER OF 5 FOR 1
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Share Data (RMB)

NAV = $0.4044
EPS = $(0.0226) (6M FY09)
No of Shares = 1,655,444,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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