On Jun 9, Ace Sense acquired 77,200 shares of Anchun at an average price of S$0.377 apiece. This increased the deemed interest of Xie Ming, Anchun&rsquo s non-independent non-executive chairman, from 23.41 to 23.57 per cent.   This follows the acquisition of 124,200 shares of Anchun at S$0.318 apiece on Mar 3.

 

Anchun delivers integrated chemical and environmental engineering solutions, offering energy-efficient, eco-friendly technologies to support China&rsquo s petrochemical and chemical industries.

 

In FY2024, the group&rsquo s revenue grew by 32.7 per cent from the year before, to 177.4 million yuan (S$31.7 million), driven by a 45 per cent surge in demand for its chemical systems and components (CSC). Demand was slower in other segments. Anchun said its CSC segment is benefiting from China&rsquo s push for large-scale, modern chemical projects, and rising demand for integrated green hydrogen, ammonia and methanol solutions.

 

Anchun has enhanced its target and budget management, introduced a three- to five-year development road map, and adopted a phased dual-growth strategy for revenue and profit to drive return on equity. Strategic focus areas include large-scale domestic chemical projects, integrated green hydrogen, ammonia and methanol solutions and global partnerships, supporting growth across the CSC, engineering services and catalyst segments.

 

At the same time, its key challenges of domestic pricing pressure, aggressive competitor tactics and slower industry growth remain. To further prepare for new opportunities, the group is actively developing internal talent across geographies.

Anchun International

On Mar 3, Ace Sense acquired 124,200 shares of Anchun International at an average price of S$0.318 apiece. This increased the deemed interest of Xie Ming, Anchun&rsquo s non-independent non-executive chairman, from 23.14 per cent to 23.41 per cent.

 

Anchun specialises in integrated chemical and environmental systems engineering, and provides environmentally friendly and energy-efficient technology solutions to the petrochemical and chemical industries in China.

 

On Feb 27, it reported that its FY2024 revenue increased 33 per cent year on year to 177.4 million yuan (S$32.6 million). The growth was driven primarily by higher revenue from its chemical systems and components business, which rose 45 per cent to 151.3 million yuan due to a higher percentage of contract completions and an increase in the number of contracts during the fiscal year.

 

However, the gain was partially offset by declines in the remaining two segments, the catalyst business and the chemical engineering and technology engineering services. Nonetheless, Anchun&rsquo s FY2024 attributable net profit surged 358 per cent to 10.9 million yuan.