China Sunsine Chemicals' Net Profit Declines 6% in Q3
MT Newswires
Nov 20
China Sunsine Chemicals' (SGX:QES) net profit in the third quarter declined 6% to 87.5 million yuan, from 92.9 million yuan a year ago, according to a Wednesday filing with the Singapore Exchange.
Shares of the chemical company were up nearly 1% in Thursday trading.
Sales revenue declined 14% to 762.8 million yuan from 884.1 million yuan a year earlier.
The revenue moderation was mainly due to a lower average selling price of 13,861 per ton, dictated by a decrease in the prices of raw materials and the group's decision to adopt a flexible pricing strategy.
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