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Bought too late at 46 sia
China Sunsine posts 11% growth in 2H20 earnings of RMB136.4 mil
China Sunsine Chemical Holdings has reported 11% high earnings for the 2HFY2020 ended December of RMB136.4 million ($27.9 million), compared to earnings of RMB123.0 million in 2HFY2019.
For the full-year, earnings fell 44% to RMB218.8 million from RMB388.9 million in FY2019 due to lower revenue arising from lower average selling prices (ASPs).
The lower ASPs were a result of lower raw material prices and the impact of Covid-19.
Earnings per share (EPS) for the 2HFY2020 grew 12% y-o-y to 14.04 RMB cents and 43% lower y-o-y for the FY2020 to 22.50 RMB cents.
Group revenue for the 2HFY2020 increased 1% y-o-y to RMB1.29 billion due to the higher sales volume, but was offset by the lower ASP.
ASP fell 9% y-o-y to RMB13,579 per tonne, from RMB14,877 per tonne a year ago, mainly due to the lower raw material prices and higher competition in the rubber chemicals industry.
Profit before tax for the FY2020 fell 34% y-o-y to RMB300.5 million mainly due to the lower revenue arising from lower ASP, especially in 1HFY2020.
As at end-December, cash and cash equivalents stood at RMB1.32 billion.
For the 2HFY2020, a final dividend of 1 cent per share has been proposed, same as last year.
&ldquo As we enter 2021, we are seeing positive signs from the downstream demand the rubber chemicals industry is further consolidating and raw material prices are increasing. All these factors will provide support for our ASP. With our two major expansion projects slated for completion in 2021, we will be able to strengthen our market leadership position further. Coupled with our other competitive advantages, such as our strong balance sheet and financial position, ability to provide high-quality products, large-scale production, a variety of product range of rubber chemicals, and compliance with national environmental protection laws and regulations, we are confident about the group&rsquo s profitability in the next 12 months," says executive chairman Xu Cheng Qiu.
Hope the market is forward looking since the ASP of their product had been steadily recovering month over month and the economy & demand is getting stronger following the global recovery.
Good luck!
Good luck!
" The significant decrease in FY2020 profit is mainly contributed by the significant decrease in the profit for the 1 st half year ended 30 June 2020 (&ldquo 1H2020&rdquo ) (please refer to the Company&rsquo s announcement dated 12 August 2020 for 1H2020 results announcement). While the profit for the 2nd half year from 1 July 2020 to 31 December 2020 (&ldquo 2H2020&rdquo ) has improved as compared to the corresponding period from 1 July 2019 to 31 December 2019 (&ldquo 2H2019&rdquo ), such improvement is not sufficient to overcome the significant decrease in profit for 1H2020. "
1st half 2020 profit was 82mil.. 2nd half 2019 profit was 123mil.. so if 2nd half 2020 profit was better than 2019 2nd half, that means profit for full year 2020 is expected to be at least 82+123= RMB 205mil, which is a drop from RMB 388.9mil in 2019
1st half 2020 profit was 82mil.. 2nd half 2019 profit was 123mil.. so if 2nd half 2020 profit was better than 2019 2nd half, that means profit for full year 2020 is expected to be at least 82+123= RMB 205mil, which is a drop from RMB 388.9mil in 2019
powermikeln ( Date: 21-Feb-2021 06:07) Posted:
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Profit Guidance just issued Friday. Any thoughts?
https://links.sgx.com/1.0.0/corporate-announcements/DE34P69XUPKA8BN2/648839_20210219%20CSCH%20-%20Profit%20Alert%20for%20FY2020%20-Final.pdf
https://links.sgx.com/1.0.0/corporate-announcements/DE34P69XUPKA8BN2/648839_20210219%20CSCH%20-%20Profit%20Alert%20for%20FY2020%20-Final.pdf
QES??? WHATS THE CODE FOR SGX???
Temporary forget about Jiutian now, this gem has more room to run and is cash rich
Uptrend slowly but surely moving up... Too bad low volume...
0.525 breakout!!! Nice!!
0.515 holding well...
CS broke 50c resistance now moving to break 55c resistance.
CHINA SUNSINE: Grows market share amid Covid-19, stock price +41%
From 35 cents at the start of 2H2020, the share price of China Sunsine has recently risen to 49.5 cents.UOB Kay Hian recently set a target price of 58 cents (see: CHINA SUNSINE: On recovery mode, 46% net profit growth in 2021?)
https://www.nextinsight.net/story-archive-mainmenu-60/943-2020/13907-china-sunsine-grows-market-share-amid-covid-19-stock-price-41?idU=1
Slowly but surely moving up!!! Huat ah! )
with car sales picking up strongly in china. qes reported strong 3q20 update. 4q20 likely to report even stronger result. qes share price could break new high.
Nice breakout!!
long accumulation, should see 52 at least
ryanlimbk ( Date: 18-Nov-2020 14:01) Posted:
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big move coming soon...think should go 50cents soon...BIG PLAYERS collecting 47 475...
CHIONG ARH CIMB upgrade to 55cents....UOB upgrade to 58cents....4TH QUARTER earnings revision up ASF price
Any TP for this Trademaster?