Results Announcement :: China Sun BioChem

Another set of expected good results announced from China Sun Biochem. The challenge now is to utilise its expanded production capacity and gain more market share from its competition. The highlight regarding the issuance of the ethanol should be regarded as a potential growth driver however exercise against over excitement.

For corn starch production, the major competitors are:-
1. Changchun Dacheng Corn Development Company Limited;
2. Yellow Dragon Food Industry Company Limited;
3. Shandong Zhucheng Xingmao Corn Developing Company Limited; and
4. Jiliang Cerestar Corn Industry Company Limited

For modified starch production, the major competitors are:-
1. Cargill, Incorporated;
2. National Starch and Chemical Company; and
3. Changchun Dacheng Corn Development Company Limited;

For other corn-based products, the competitors are:-
1. Yellow Dragon Food Industry Company Limited; and
2. Shandong Zhucheng Xingmao Corn Developing Company Limited





Highlights:-

* Group revenue jumped 45% on increased sales volume and enhancement of sales mix.

* Gross profit increased 27% and profit before tax increased by 24% despite rising material prices and administrative overheads.

* Positive outlook well-supported by increasing utilisation of Group’s expanded corn starch facilities.

* New ethanol plant to be completed within this year will be one of Group’s key performance drivers.


SGX Announcement - Financial Statement
SGX Announcement - Press Release





Cheers
Niversphere.