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China Sunsine Chemical
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wizager
Member |
16-May-2023 11:48
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Ongoing buybacks up to 0.42 over the last few weeks, hope management continues to increase the floor on the share price | ||||
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Catrade
Master |
10-May-2023 00:02
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The management should be more aggressive in buying back !
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wizager
Member |
09-May-2023 23:50
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Finally some movements to return increasing shareholder value - increasing dividends & share buybacks concurrently 
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sunview
Veteran |
15-Mar-2023 14:31
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Interesting on the chart. 100 shares done at $0.485. Total volume only 85k. $0.48 and $0.485 tested a few times already. Is it for real this time ? 
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chiachiawee
Elite |
01-Mar-2023 01:10
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Every stock has its up and down, coupled with its company performance, macro factors, etc. Who knows if it is on its good wave up on a major uptrend? Only time will tell. cheers. | ||||
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Catrade
Master |
28-Feb-2023 23:54
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Chinasine is a very solid company, growing year after year, n consistently making very good profit but its management is too conservative when comes to dividend. With no debt the company could afford to reward loyal investors with more quarterly dividends. This may be the reason why its share is trading at very low PE ratio now...
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HVRRVH
Elite |
28-Feb-2023 22:01
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EPS of sgd 12 cents!! 3 cents dividend and that' s yield of about 6.6% on current price. PE not even 4 times lol. Cash about sgd 27 cents per share. No debt. Despite all this, price only 45 cents. Why market can' t even give it a 5 to 6 times PE? I have said before it' s because the company always gave 1 cent dividend only, except in 2018 and perhaps 1 or 2 other years. Also to be fair, they have split their shares in 2019 and effectively since then, the dividend has double. Despite all this, it is still unloved by the market and that' s why I have divested all. They are still convervative, the ' normal' dividend is still 1 cent, the other 2 cents are special dividends. Time will tell whether they will make higher dividend a regular feature. | ||||
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jack_ng
Member |
05-Oct-2022 11:00
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Although the China lockdown is bad, but suprisingly the automotive sales is still climbing and it bodes well for CS lets have a little bit more patience (although its very thin now LOL) as i believe it will be another good Q for CS | ||||
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Catrade
Master |
31-Aug-2022 17:19
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Fully agreed with this" Rolling Stone" ! Its very sad for this ultra conservative company, its time for new management to take charge n think more for loyal investors n reward us with more quarterly dividends.... then this very good n growing stock will fly! Sunsine being the world' s largest producer of rubber chemicals as well as RA, and it has 29c cash per share, 69c NAV per share, and 10c EPS.
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HVRRVH
Elite |
31-Aug-2022 15:44
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https://www.nextinsight.net/story-archive-mainmenu-60/945-2022/14875-china-sunsine-a-closer-look-at-1h22-results This ' Rolling Stone' must be a die hard fan. Have to admire his in depth analysis though. If I can say a message to him, it is ' Move on' . After so many years of being conservative, I don' t think Sunsine will suddenly be generous with dividend payout. As a former investor in Sunsine, I really cannot understand why. Heck, even Nordic, the price is now 52 cents when during the pandemic crisis, it slumped to 30 cents region. Why? Because they are generous with dividend payout even though they are not exactly debt free! |
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HVRRVH
Elite |
18-Aug-2022 21:05
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It has been buying around 100k shares for the past few days but today when the price move up, it decided that it won' t buy beyond 48 cents! And buy back shares with almost 50% less in the quantity compare to past few days. It would have given investors more confident if they continue to buy back more shares and with higher price such as intraday high price.
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Catrade
Master |
18-Aug-2022 18:19
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China Sunsine started to move today n it?s volume also increases. Hope the company will continue its buyback till 55c | ||||
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HVRRVH
Elite |
12-Aug-2022 00:53
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Every quarter gave pessimistic guidance but every year eps around 10 SGD cents! Haiz, someone should question them during results briefing. I am sure if they are willing to give at least 2 cents dividend on regular basis, the stock price can easily stay above 65 cents.
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Catrade
Master |
12-Aug-2022 00:50
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Such fantastic set of H12022 result, only gives 0.5c. China Sunsine' s boss is a very very very stingy man !!!
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Everyday
Elite |
11-Aug-2022 19:41
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1 China Sunsine Chemical Holdings Ltd. 18 Cross Street #07-08 Cross Street Exchange Singapore 048423 Tel: (65) 6220-6686 Web: www.ChinaSunsine.com Company Registration No.: 200609470N NEWS RELEASE China Sunsine&rsquo s 1H2022 net profit records 61% growth to a new high of RMB 427.5 million 1H2022 revenue increased 15% y-o-y to RMB 2,022.5 million mainly due to the increase in overall Average Selling Price (&ldquo ASP&rdquo ) Sales volume declined 3%due to combined effects Production commencement of the two new projects boosted our total capacity by 62,000 tonnes in 2022 Special interim dividend of 0.5 Singapore cents per share declared in celebration of the Group&rsquo s 15th anniversary of its IPO on the Singapore Exchange SINGAPORE &ndash 11 August 2022 - China Sunsine Chemical Holdings Ltd (&ldquo China Sunsine&rdquo or the &ldquo Group&rdquo ), a specialty rubber chemicals producer and global leader in the production and supply of rubber accelerators, is pleased to announce the Group&rsquo s strong performance in the first half year ended 30 June 2022 (&ldquo 1H2022&rdquo ). Financial Highlights RMB&rsquo million Half Year Ended Change 30 June 22 30 June 21 Group Revenue 2,022.5 1,757.5 15% Gross Profit 694.0 552.3 26% Gross Profit Margin (GPM) 34.3% 31.4% +2.9 pts Profit before income tax 470.1 360.7 30% Net profit 427.5 265.2 61% Sales Volume (tonnes) 90,422 93,162 (3%) EPS (RMB cents) 44.061 27.32 61% NAV per share (RMB cents) as of the period 361.992 302.66 20% Cash and bank balances 1,206.43 1,335.7 - 1Based on weighted average number of shares 970,309,000 shares, equivalent to 9.15 SGD cents at the exchange rate of 4.8170 2Based on 969,901,000 shares, equivalent to 75.15 SGD cents at the exchange rate of 4.8170 3Equivalent to SGD 250.4 million at the exchange rate of RMB 4.8170 2 China Sunsine Chemical Holdings Ltd. 18 Cross Street #07-08 Cross Street Exchange Singapore 048423 Tel: (65) 6220-6686 Web: www.ChinaSunsine.com Company Registration No.: 200609470N In the first half of 2022, the increase in global commodities prices have led to an increase in the prices of our raw materials, and the Group was able to pass on such increase to our customers. As such, the Group&rsquo s revenue in 1H2022 grew by 15% to RMB 2,022.5 million, compared to RMB 1,757.5 million in 1H2021, due mainly to the higher ASP, partially offset by a lower sales volume. ASP increased by 18% to RMB 22,043 per tonne in 1H2022 from RMB 18,642 per tonne in 1H2021. Sales volume declined slightly by 3% from 93,162 tonnes in 1H2021 to 90,422 tonnes. A few factors had adversely impacted the sales volume in 1H2022: Chinese New Year holidays, tentative supply chain interruption during Winter Olympic Games, and Covid-19 control measures implemented in some affected areas in China. Gross profit lifted 26% from RMB 552.3 million in 1H2021 to RMB 694.0 million in 1H2022, and gross profit margin (&ldquo GPM&rdquo ) enlarged by 2.9 percentage points from 31.4% to 34.3%. As a result, profit before income tax (&ldquo PBT&rdquo ) rose by 30% from RMB 360.7 million in 1H2021 to RMB 470.1 million in 1H2022. The Group&rsquo s main subsidiary, Shandong Sunsine, received a formal letter of approval confirming its &ldquo High-tech Enterprise&rdquo status in May 2022, which entitles our subsidiary to a concessionary tax rate of 15% for 3 years with effect from 1 January 2021. Therefore, Shandong Sunsine received a refund of approximately RMB 36.1 million from the local tax authority during 1H2022 for the overpayment of tax expenses for FY2021. As a result, the Group&rsquo s net profit for 1H2022 surged 61% to RMB 427.5 million from RMB 265.2 million in the corresponding period of last year. 3 China Sunsine Chemical Holdings Ltd. 18 Cross Street #07-08 Cross Street Exchange Singapore 048423 Tel: (65) 6220-6686 Web: www.ChinaSunsine.com Company Registration No.: 200609470N Analysis of Sales and Volume In 1H2022, sales volume for Accelerators decreased by 8%, due to weak domestic demand and intensified competition. IS product sales volume remained stable, whereas sales volume of Anti-oxidant products increased by 6% as the new 30,000-tonne TMQ production line was put into commercial production. Sales volume in China&rsquo s domestic market dropped by 6%, due to the combined effects mentioned above, whilst international sales grew by 3% as the global economy was recovering gradually from the Covid-19 pandemic. The Group&rsquo s financial position remains healthy and robust with strong cash balances of RMB 1,206.4 million and no debt. Based on its latest six months&rsquo results, the Group&rsquo s earnings per share was 44.06 RMB cents (or 9.15 SGD cents) and its net assets per share amounted to 361.99 RMB cents (or 75.15 SGD cents) for 1H2022. In view of the good results achieved in 1H2022, and in celebration of the Company&rsquo s 15th anniversary of its listing on Singapore Exchange, the Board is pleased to declare a special one-tier tax exempt dividend of 0.5 Singapore cents per ordinary share. Sales Volume (Tonnes) Sales (RMB&rsquo million) 1H2022 1H2021 1H2022 1H2021 Rubber Chemical Accelerators 45,715 49,660 1,096.0 1,079.9 Insoluble Sulphur 17,066 17,076 144.3 146.5 Anti-oxidant 27,066 25,595 740.5 494.7 Others 575 831 12.4 15.6 Total 90,422 93,162 1,993.2 1,736.7 Local Sales 55,710 59,335 1,183.9 1,055.0 International Sales 34,712 33,827 809.3 681.7 Heating Power 41,911 38,498 11.9 7.4 Waste treatment 7,060 6,224 16.6 12.9 Hotel & Restaurant - - 0.8 0.5 4 China Sunsine Chemical Holdings Ltd. 18 Cross Street #07-08 Cross Street Exchange Singapore 048423 Tel: (65) 6220-6686 Web: www.ChinaSunsine.com Company Registration No.: 200609470N Commenting on the Group&rsquo s performance in 1H2022, Executive Chairman Mr Xu Cheng Qiu (徐 承 秋 ) said, &ldquo Our resilient performance in the first half of 2022 demonstrated the strength of our market leadership position, even though we were facing various challenges such as volatilities of raw materials prices, low utilisation rate of tyre manufacturers and intense competition in the rubber chemicals industry. In the second half of this year, we do not foresee any improvement in the overall operating environment. Conversely, we expect the challenges to remain or worsen due to the high inflation rate, greater geopolitical tension, weakening economic growth in China, as well as the uncertainties of and restrictive measures arising from the Covid-19 pandemic situation. Despite these headwinds, we are well-placed to face the difficulties. We strongly believe that capacity expansion will enhance our competitive advantage and further increase our market share. I am therefore pleased to share that our two new projects have commenced commercial production in 1H2022. We will continue to implement our strategy of &lsquo sales production equilibrium&rsquo . Given our strong balance sheet and financial stability, our market leadership position, our ability to provide high-quality products, economies of scale, a variety of rubber chemical products, and compliance with national environmental protection laws and regulations, we remain confident about the Group&rsquo s profitability in the next 12 months&rdquo Expansion Project Update 1. Phase 1, 30,000-tonne per annum IS project Commercial production has commenced in December 2021. 2. 30,000-tonne per annum Anti-oxidant TMQ and 2,000-tonne HTMQ project We have obtained approval to start commercial production in 1H2022. 5 China Sunsine Chemical Holdings Ltd. 18 Cross Street #07-08 Cross Street Exchange Singapore 048423 Tel: (65) 6220-6686 Web: www.ChinaSunsine.com Company Registration No.: 200609470N 3. Controlled Landfill Projects The construction of the main body work of phase 2 of 50,000-tonne capacity has been completed, and is undergoing auxiliary work. The project is expected to be completed by the end of 2022. Set out below is an overview of the Group&rsquo s production capacity: Tonnes FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023e Accelerators 87,000 87,000 97,000 117,000 117,000 117,000 117,000 Insoluble Sulphur 20,000 30,000 30,000 30,000 30,000 60,000 60,000 Anti-oxidant 45,000 45,000 45,000 45,000 45,000 77,000 77,000 Total 152,000 162,000 172,000 192,000 192,000 254,000 254,000 - End - About China Sunsine Chemical Holdings Ltd. Listed on SGX-ST on 5 July 2007, China Sunsine Chemical Holdings Ltd. (&ldquo China Sunsine&rdquo ) is a leading specialty chemical producer selling rubber accelerators, insoluble sulphur and antioxidant and other vulcanizing agents. It is the largest rubber accelerator producer in the world and biggest insoluble sulphur producer in the PRC. It continues to serve more than 65% of Global Top 75 tire makers, such as Bridgestone, Michelin, Goodyear, Pirelli, Sumitomo, Yokohama, Hankook, Cooper, Kumho Tire as well as PRC Tyre giants such as Hangzhou Zhongce, Giti Tyres and Shanghai Double Coin Tyre. China Sunsine distributes its products under its own " Sunsine" brand, a brand which has been accredited as a &ldquo Shandong Province Famous Brand&rdquo . In January 2017, China Sunsine&rsquo s main subsidiary, Shandong Sunsine Chemical Co., Ltd was listed in the First Batch of National Champion Manufacturing Enterprise by the Ministry of Industry and Information Technology of the PRC. Riding on the robust growth of the auto and tire industries in the PRC, China Sunsine has been able to expand its production capacity, deliver superior products and services, and implement stringent environmental protection measures to stay ahead of the competition. It has achieved ISO9001:2008 standard for quality, ISO14001:2004 standard for environment, and GB/T28001-2011 standard for occupational health and safety management system. For more information, please contact: Tong Yiping, CFO, [email protected] Jennie Liu, IR manager, [email protected] Tel: (65) 6220 6686 Fax: (65) 6223 0605 |
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jack_ng
Member |
05-Aug-2022 15:05
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Sincerly hope that you are right and it jump higher after the 1H result is announced in the early day before the stock split it was at around 40cts for a long time too Cheers !!!
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HVRRVH
Elite |
03-Aug-2022 12:09
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There you go. Back to 45 cents and in imminent return to 44.5 cents. In the upcoming results release, despite the stellar earning and production expanstion mostly in place, expect the company to offer statements like ' ... operatoin environment remain challenging.. aim for production and sale equilbrium...' . Unfortunately, the company will not go on the lines such as ' ...with no immediate capex anticipated, and with large cash in hands and no debt, we are please to announce dividend policy of at least 50% of annual eps...' . Also, till date, the director whose wife sold his shares by ' mistake' has yet to buy back his shares. Make one wonder, if the sale of shares is a mistake, wouldn' t you buy back immeidately upon realising the ' mistake' ? | ||||
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Catrade
Master |
02-Aug-2022 01:53
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China Sunsine price movement is still v much at the mercy of the BBs, even with good guidance n business prospects from the company . If the management is more proactive in more share buybacks then it will create more interest in this SGX market which had been wounded badly by many China S-chip. | ||||
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HVRRVH
Elite |
01-Aug-2022 17:20
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Yes highest price was at open. Then 700k shares distributed downward. Even at 45.5 also got people willing to let go. Let' s see how it fare tomorrow. Cash rich, industry leader, no debt, I won' t be surprised that this full year the eps will be over sgd 10 cents again but share price can' t even command 8x PE. That' s the reason I have to liquidate my holding in this. Even holding valutronic is better. Similarly cash rich no debt making reasonable eps but the only difference is they willing to pay higher dividends. | ||||
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brchkho1
Master |
01-Aug-2022 10:52
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This mornimg jumped 3 cts.
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