Black cat post 276 mln deficit in 2019
On April 13, Jiangxi Black Cat released its annual report of 2019.
The company said that it posted 276 million yuan of deficit in 2019, year-on-year decreasing 168.89%, and predicted up to 8 million yuan of loss in the first quarter of 2020.
It is the sixth quarter that Black Cat has been in red since the fourth quarter of 2018.
The company contributed the loss to oversupplied capacity of carbon black in China, and slowing down economy growth.
In 2018, Black Cat realized 440 million yuan of net profit, yearly increasing 37.95%, but reported 39 million yuan of loss in the fourth quarter of 2018.
Since then, Black Cat showed succession deficit in every quarter of 2019, respectively lossing 74.25 million yuan、41.75 million yuan、10.51 million yuan and 149 million yuan.
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