tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

China Starch Reports Significant Mid-Year Profit

China Starch Reports Significant Mid-Year Profit

China Starch Holdings Limited (HK:3838) has released an update.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

China Starch Holdings Limited has issued a positive profit alert, expecting a significant turnaround with a profit before taxation of approximately RMB350 million for the first half of 2024, contrasting sharply with a loss in the same period of 2023. This encouraging financial forecast is attributed to improved market sentiment for their major products, increased production and sales of lysine following expansion, and lower corn kernel prices. However, the company maintains a cautious outlook for the latter half of the year and advises shareholders and investors to exercise caution.

For further insights into HK:3838 stock, check out TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1