Between Aug 18 and 21, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired 424,300 shares at S$0.146 apiece. This increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 69.56 to 69.61 per cent. 

 

This follows his acquisitions of 1.8 million shares in May and 880,000 shares in April. Since the end of 2019, he has raised his deemed interest from 57.80 per cent, primarily through a rights issue earlier this year.

 

On Aug 14, Sinostar PEC Holdings reported a H1 FY2025 net profit of 57.81 million yuan, a decrease of 67 per cent from 175.35 million yuan in H1 FY2024. The decline in net profit was primarily attributable to insufficient market consumption demand. 

 

The group maintains that in the coming year, the Chinese polyolefin industry is expected to face intensified competition because of a mismatch between rising production capacity and slower downstream demand, which may pressure the group&rsquo s gross profit margins. In response, the group will focus on high-end product development, invest in technology, and refine its portfolio to meet growing demand in, for example, the new-energy vehicles and green consumption sectors.

 

Between May 23 and 29, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired one million shares at S$0.147 apiece. This increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 69.46 per cent to 69.56 per cent. This follows his acquisition of 800,000 shares at S$0.142 apiece between May 19 and 21, and 880,000 shares acquired in April. Since the end of 2019, he has raised his deemed interest from 57.80 per cent, primarily through a rights issue earlier this year.

 

Between May 19 and 21, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired 800,000 shares acquired at S$0.142 apiece. This increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 69.38 to 69.46 per cent. In April, Li acquired 880,000 shares. Since the end of 2019, he has raised his deemed interest from 57.80 per cent, primarily through a rights issue earlier this year.

 

On May 12, Sinostar PEC Holdings reported a Q1 FY2025 (ended Mar 31) net profit of 45.1 million yuan (S$8 million), representing a decrease of 48.9 per cent from Q1 FY2024, primarily attributable to less market demand for its products. In addition, the preceding Q1 FY2024 net profit maintained a high base of 88.4 million yuan, compared to 13.2 million yuan in Q1 FY2023 and 50.3 million yuan in Q1 FY2022.

 

The group noted that while China&rsquo s polyolefin sector faces pressure from rising supply and slower demand, which may squeeze margins, it believes demand for high-end polypropylene is expected to grow, driven by electric vehicle, green consumption and supportive policies.

 

The group maintains it will remain focused on premium products, tech investment and adapting to market shifts.