Jiutian Chemical Group has reported earnings of RMB51.3 million ($10.5 million) for the 3QFY2020 ended Sept 30, a surge compared to the RMB2.4 million reported a year ago.

The spike in earnings were mainly attributable to the continued recovery of China’s economy, which resulted in stronger demand for the group’s main products of dimethylformamide (DMF) and methylamine, with significant and steady rise in prices across the board.

Earnings per share (EPS) for the period stood at 2.86 RMB cents compared to the 0.13 RMB cents reported in 1HFY2019.

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