On 23 February 2026, China Starch Holdings Limited (Stock Code: 3838) announced a profit warning for the year ended 31 December 2025. Preliminary data indicate total revenue of approximately 10.06 billion renminbi, compared with 11.42 billion renminbi in 2024. Profit before taxation is anticipated to drop by about 64.00% from 838.00 million renminbi in 2024.

According to the announcement, higher corn kernel costs during three consecutive quarters in 2025 and a persistent oversupply in China’s cornstarch and lysine markets contributed to the revenue and profit decline. In particular, lysine market prices fell in the second half of 2025, further affecting profitability. Several anti-dumping investigations against Chinese-made lysine during the year also pushed more supply into the domestic market, intensifying price pressure.

Additionally, a production expansion project at the Linqing complex reduced cornstarch capacity as one production line was demolished for construction works. The peak season for starch-based sweetener did not materialize as expected in 2025, further impacting revenue.

The company noted that this profit warning is based on unaudited consolidated management accounts and remains subject to final review. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares. The final annual results are expected to be published in March 2026.