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China Starch Holdings Limited ( (HK:3838) ) has provided an update.
China Starch Holdings Limited announced a positive profit alert, predicting a significant increase in profit before taxation for 2024, attributed to lower corn kernel prices and increased lysine production following facility expansion. The company achieved economies of scale and market share growth despite insufficient demand, highlighting a robust cost competition strategy. However, the industry faces challenges of oversupply and sluggish demand, which may impact long-term prosperity.
More about China Starch Holdings Limited
China Starch Holdings Limited operates in the starch industry, focusing primarily on the production and distribution of corn-refinery products. The company has expanded its production facilities and aims to increase its market share despite challenges in domestic demand.
YTD Price Performance: 5.79%
Average Trading Volume: 4,974,276
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$1.19B
For a thorough assessment of 3838 stock, go to TipRanks’ Stock Analysis page.