Sinostar PEC Holdings posted a net profit of RMB17.18 million for the nine months ended 30 September 2025, down 91.5 per cent year-on-year, as a scheduled plant-wide turnaround and weaker product spreads dented earnings.

Revenue fell 18.4 per cent year-on-year to RMB3.32 billion, while basic earnings per share declined to 1.79 RMB cents from 22.56 RMB cents a year earlier. The board did not declare an interim dividend, citing the need to preserve cash amid market uncertainty.

By segment, the gas separation business remained the main contributor with external sales of RMB3.02 billion and pre-tax earnings of RMB93.7 million, compared with RMB266.3 million a year ago. Transport and logistics services generated RMB300.8 million in revenue and RMB20.4 million in pre-tax profit, versus RMB34.6 million previously. Group profit before income tax slid 87.5 per cent to RMB32.4 million.

The sharp earnings contraction tracked a 137,500-tonne reduction in product sales volumes during the 28 July–15 September maintenance shutdown. Group gross profit margin narrowed to 2.7 per cent from 5.7 per cent a year earlier, reflecting softer market prices and higher average production costs. Logistics margin also compressed to 6.3 per cent from 14.2 per cent.

Administrative expenses more than doubled to RMB65.9 million, as fixed costs incurred during the shutdown were expensed instead of being absorbed into inventory. Distribution costs rose in tandem with higher door-to-door deliveries, while finance costs halved to RMB7.8 million following loan repayments.

During the period the company completed a 320 million-share rights issue, raising RMB242.9 million to fund business expansion and acquisitions. It also repaid a RMB50 million related-party loan and reduced bank borrowings to RMB250 million. Period-end cash and cash equivalents stood at RMB433.3 million.

Management said the outlook for the next 12 months will depend largely on market demand. The group will focus on developing higher value-added products, expanding sales beyond its home region, and maintaining prudent operations to safeguard stability and liquidity.