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SINGAPORE : Jiutian Chemical Group has issued a profit warning.
In a stock exchange filing on Tuesday, the Singapore-listed firm said it expects to report a loss of not more than 4 million yuan for the third quarter.
Jiutian said it was forced to cut down on production at one of its plants because of the high costs of methanol, a key feedstock used in its production process.
The bottomline was also hurt by a tax charge on its subsidiary unit Anyang Jiutian Fine Chemical. - CNA/ms
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