China Sunsine posts stronger Q2 earnings

Singapore

HIGHER revenue helped specialty rubber chemicals producer China Sunsine Chemical Holdings' net profit rise from RMB74.5 million (S$14.88 million) in Q2 2017 to RMB239.7 million in Q2 2018 as both selling prices and sales volumes picked up pace.

Revenue for the three months ended June 30 jumped 34 per cent year-on-year to RMB880.6 million due to the spike in average selling price (ASP), which increased 23 per cent to RMB23,334 per ton. Total sales volume was also higher, rising 9 per cent to 37,567 tons.