Jiutian Chemical’s FY2007 net earnings dipped 9.4% yoy to RMB 61.3 million
• Net earnings would have grown 11% yoy when adjusted for tax effects
• High and volatile methanol cost affected ramping up of new 120,000 DMF plant in 4Q2007.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4CA8025A9916C84E482573FD0034FD88/$file/4Q2007_Press_Release_final.pdf?openelement
2 comments:
hello Kit,
Any news update on Jiutian? The share price is keep on drop until 0.155 as I write to you. Are you still holding it? Would it be a long term investment? would you optimist to this company future? How do you think about this Company basis fundemental? Would be grateful you could let us know when you are free to find out.
Thank & Regards,
Roden
Roden,
If you are looking to buy and hold short term, I suggest that you stay away from the current market. Bottom is still a long way to go. I personally expect the STI to drop to 2,000 and Dow 8,000.
Jiutian's lower than expected FY07 results and the plant shut down plus slower start of the new plant make it a perfect target for kateks to short.
Personally, I made more than 50% from Jiutian before the share splits. The current shareholdings I have are just a fraction of the profit. Therefore I have little to lose in this sense.
I will only be seriously adding more shares if it goes below 10 cents.
In the longer term, the production expansion plan is still intact and industrial demand will continue to be strong amid the strong China Economy.
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