On January 27, Jinpu Titanium released its 2023 annual results forecast. During the reporting period, it is estimated that the net profit loss attributable to shareholders of listed companies will be 146 million yuan to 168 million yuan.
Regarding changes in performance, Jinpu Titanium said: "First, the Chinese market is affected by the real estate industry, and demand is weak. In the first half of 2023, sales prices dropped significantly compared with the same period last year; Second, in the first quarter of 2023, subsidiaries Nanjing Titanium Dioxide and Xuzhou Titanium Dioxide reduced production and maintenance, and the total titanium dioxide output decreased by about 6000 tons. The raw and auxiliary materials and energy consumption costs of titanium dioxide products increased, and the fixed costs of products increased, resulting in titanium dioxide production costs per ton have increased, and the gross profit margin has dropped significantly; third, the company's subsidiary Nanjing Titanium Dioxide lost approximately 60 million yuan on investment in the joint-stock company Nanjing Jinpu Dongyu Investment Co., Ltd.
