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Jiutian Chemical Group posts record FY20 net profit of $35.5 mil on surge in gross profit, other income and absence of impairment losses

Felicia Tan
Felicia Tan2/23/2021 8:50 PM GMT+08  • 3 min read
Jiutian Chemical Group posts record FY20 net profit of $35.5 mil on surge in gross profit, other income and absence of impairment losses
As at end-December, cash and cash equivalents nearly doubled to RMB256.7 million.
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Jiutian Chemical Group has posted earnings of RMB173.7 million ($35.5 million) for the FY2020 ended December, reversing from losses of RMB248.4 million in the FY2019.

This is the group’s highest earnings yet due to a surge in gross profit, other income and absence of impairment losses.

Earnings per share (EPS) for the FY2020 stood at 9.39 RMB fen from loss per share of 13.66 RMB fen.

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