Ou Lilong increases investment in sustainable development, and CEO is optimistic about future growth prospects

Oilon recently announced that it has completed the upgrading and renovation of exhaust gas utilization and emission facilities, significantly improving the cleanliness of the production environment. Looking to the future, Mr. Corning Painter, CEO of the company, said Oerilon is entering a new stage of development and will further increase investment, focusing on driving earnings growth, reducing debt levels, and creating greater value for shareholders.

Mr. Pei Kangning further elaborated that as an important part of the company's growth strategy, Ou Lilong will continue to invest in various projects closely related to sustainable development. This includes but is not limited to the production of conductive materials required for lithium-ion batteries and the development of products that are consistent with circular economy concepts. These initiatives aim to promote the diversification of the company's business and actively respond to global environmental trends.

According to the Carbon Black Industry Network, due to the slow recovery of the end-user market and the impact of shutdown and production stoppage caused by the Environmental Protection Agency (EPA) upgrade project, Ou Lilong expects its operating results in 2023 to be at the lower end of the expected income range. Specifically, the company's adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is expected to be at a low level of $330 million to $340 million. Despite this, Mr. Pei Kangning emphasized that market demand is gradually recovering, although demand growth in some application markets is slower than expected.

Looking forward to 2024, Mr. Pei Kangning said that Oilon is expected to achieve profit growth for the fourth consecutive year, and the growth rate is expected to remain at a comparable level to 2023, that is, EBITDA profit will increase by approximately 5%. This positive expectation reflects the company's confidence in future development and the effectiveness of its strategic layout.