Jinpu Titanium Industry (000545.SZ) posted a pre-loss, and is expected to turn from profit to loss in the first half of the year from 75.4832 million yuan to 88.0637 million yuan

Jinpu Titanium Industry (000545.SZ) released its semi-annual results forecast for 2023. It expects a net loss attributable to shareholders of listed companies in the first half of the year to be 75.4832 million yuan to 88.0637 million yuan, turning from profit to loss year-on-year. It is expected to lose 84.002 million yuan to 94.2879 million yuan after deducting non-recurring gains and losses, turning from profit to loss year-on-year.
Reasons for changes in performance: 1. Affected by China's economic downturn, the market demand for titanium dioxide is weak, and the sales price has dropped significantly compared with the same period last year;2. In the first quarter of 2023, subsidiaries Nanjing Titanium Dioxide and Xuzhou Titanium Dioxide reduced production and maintained, and titanium dioxide output was compared with last year. The total decrease was about 6000 tons. The cost of raw and auxiliary materials and energy consumption per ton of titanium dioxide products increased, and the fixed cost of products increased, resulting in a significant increase in the production cost per ton of titanium dioxide.