China Sunsine Chemical Holdings - CGS-CIMB Research 2021-11-12: ASP Uptrend Points To A Stronger 4Q21

China Sunsine Chemical Holdings - ASP Uptrend Points To A Stronger 4Q21

CHINA SUNSINE CHEM HLDGS LTD (SGX:QES) | SGinvestors.ioCHINA SUNSINE CHEM HLDGS LTD (SGX:QES)
  • 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
SGX Stock Analyst Report ADD MAINTAIN ADD 0.78 UP 0.770




Read also CGS-CIMB's most recent report:
2022-04-29 China Sunsine Chemical - Solid Performance But Uncertainties Arise

Relevant links:
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





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