China Sunsine Chemical Holdings - ASP Uptrend Points To A Stronger 4Q21
- China Sunsine Chemical (SGX:QES)'s 3Q21 net profit of RMB100m (-29% q-o-q, +47% y-o-y) was above expectations on stronger than expected sales volume.
- Rubber accelerator prices have seen a strong uptick over the past three months. This should bode well for China Sunsine’s profit spread in 4Q21F.
- Valuation is attractive at 2.5x FY22F P/E (ex-cash). We reiterate our ADD rating on China Sunsine with a slightly higher target price of S$0.78.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
ONG Khang Chuen CFA CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-12 2021-11-12
Previous report by CGS-CIMB:
2021-10-20 China Sunsine Chemical - ASP Uptrend Points To A Stronger 4Q21
China Sunsine Analyst Report,
China Sunsine Target Price,
China Sunsine Share Price History,
China Sunsine Announcements,
China Sunsine Dividends/ Corp Actions,
China Sunsine News Articles