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China Sunsine’s 1Q earnings nearly double to $11.6 million on revenue surge

Michelle Zhu
Michelle Zhu4/27/2017 06:19 PM GMT+08  • 2 min read
China Sunsine’s 1Q earnings nearly double to $11.6 million on revenue surge
SINGAPORE (April 27): China Sunsine Chemical Holdings, one of the largest producers of rubber accelerators in the world, reported earnings of RMB57.2 million ($11.6 million) for the first quarter ended March 31, nearly double from the RMB33.6 million post
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SINGAPORE (April 27): China Sunsine Chemical Holdings, one of the largest producers of rubber accelerators in the world, reported earnings of RMB57.2 million ($11.6 million) for the first quarter ended March 31, nearly double from the RMB33.6 million posted in the same quarter a year ago.

Group revenue for the quarter grew 29% on-year to RMB574.6 million, backed by strong growth in sales volume and higher overall average selling price (ASP) for all products, which registered an increase both y-o-y and q-o-q due to the group passing on the increased costs in its raw material prices to its customers.

Sales volume from rubber accelerators, insoluble sulphur and anti-oxidants increased across the board, with higher demand for rubber chemicals products being driven by increased production by China’s tire-makers.

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