tiprankstipranks
Trending News
More News >

China Sunsine Reports Profit Growth Amid Challenges

China Sunsine Reports Profit Growth Amid Challenges

China Sunsine Chemical Holdings Ltd. (DE:CHMN) has released an update.

Don’t Miss TipRanks’ Half-Year Sale

China Sunsine Chemical Holdings Ltd. reported an 8% increase in product sales volume in Q1 2024 compared to Q1 2023, despite a slight decrease in sales revenue due to lower average selling prices driven by reduced raw material costs and a flexible pricing strategy. The company’s gross profit margin improved, and net profit rose to RMB 85 million, amidst a 10.6% increase in China’s automaker sales, with new energy vehicles making up 31.1% of the total. Facing an intensifying competitive landscape and global economic challenges, China Sunsine remains committed to its ‘Sales and Production Equilibrium’ strategy and is confident in its market leadership and profitability for the upcoming year.

For further insights into DE:CHMN 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