Jiutian Chemical Group Limited provided group earnings guidance for the financial year ended 31 December 2023. For the year, the company expects to report a net loss for financial year 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 of 2022.

The foregoing reasons are consistent with the Company's 12 months outlook provided in its first half ended 30 June 2023 results announcement made on 3 August 2023 which has guided that the business environment will remain challenging for the financial year ended 31 December 2023.