ChinaSunsine

Positive Profit Alert

China Sunsine: Expected To Report A Substantial Increase In 4Q2017 Consolidated Net Profit

HIGHLIGHT

China Sunsine expects 'substantial increase' in 4Q and FY17 earnings

By: 

Michelle Zhu

12/02/18, 06:59 pm

SINGAPORE (Feb 12): China Sunsine Chemical Holdings, the world’s largest producer of rubber accelerators, has issued a positive profit alert saying it expects to report a substantial increase in net profit for 4Q17 and the full year period.

See: China Sunsine — Price up 20.8% since we bought two weeks ago and we bought more

In a Monday filing to the SGX, the group says its expected profit growth is mainly due to the increase in both average selling price (ASP) and sales volume of its products – especially with the Chinese government now placing more emphasis on environmental protection while conducting more environmental protection inspections more frequently.

As a result, some players in the rubber chemical industry which failed to meet the relevant environmental regulations were forced to suspend their productions, which resulted in a shortage of supply in the market, enabling China Sunsine to sell more products and increase its ASP.

China Sunsine is due to release its results announcement for 4Q17 and FY17 on Feb 28, 2018.

Shares in the group closed 3 cents higher at $1.14 on Monday 12th Feb 2018.