Black Cat shoes huge deficit in H1' 2020
Jiangxi Black Cat Carbon Black Co., Ltd. released its first half year performance in 2020 on July 15.
The announcement said that there would be 65 million yuan to 75 million yuan of deficit in the first half year of 2020, compared to 1.16 billion yuan of deficit at the same period of last year.
The company explained that affected by COVID-2019, vehicle and tire industries showed largely decline in the world, which led to carbon black demand decrease too.
In April, Black Cat's production price decreased 698 yuan/ton, and its operation rate was no more than 60%, which showed largely loss.
With China's epidemic controlled since the middle of May, Tire manufactures' production were gradually recovering. In that case, carbon black price monthly increased from June, which helped the company's gross profit getting better.
The company predicted that its deficit would be further narrowed in the near future.
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