The board of directors of Jiangxi Black Cat Carbon Black Co., Ltd. released the financial report for the first half of this year on August 25, 2023. The report shows that the company's revenue fell slightly in the first half of the year and its profits suffered a serious loss. From January to June this year, operating income was 4.423 billion yuan, a year-on-year decrease of 4.98%; net profit loss reached 236 million yuan, a year-on-year decrease of 445.79%. The company's main businesses include carbon black, tar refining and white carbon black, of which the revenue from the carbon black business accounts for 85.60% of the total revenue. During the reporting period, the revenue of the carbon black business was 3.784 billion yuan, a year-on-year decrease of 5.55%; the gross profit margin was -0.96%, a year-on-year decrease of 7.15 percentage points. Black Cat Carbon Black Company's business revenue in the domestic market reached 3.974 billion yuan, a year-on-year increase of 6.23%; however, the gross profit margin was -4.31%, a year-on-year decrease of 8.38 percentage points. The revenue of overseas business was 449 million yuan, a year-on-year decrease of 50.88%; the gross profit margin was 10.59%, a year-on-year decrease of 3.46 percentage points. Black Cat Carbon Black said that in the first quarter of this year, the price of coal tar required for carbon black production continued to be high, coupled with weak downstream market demand, leading to a decline in gross profit. In the first half of the second quarter, the price of coal tar fell sharply, which in turn drove the price of carbon black products down; in order to digest high-priced inventory of raw materials and products, the gross profit of each subsidiary fell sharply from the previous quarter.