Results Update: China Sunsine Chemicals (CSSC SP) 15 September 2021 Strong fundamentals to buffer upcoming price tailwinds Sunsine’s improving profit margins were in line with the buoyant rubber chemicals sector. Average selling price (ASP) could fall in 2H21 as macro conditions will not be as favourable as in 1H21. Capacity ramp-up in insoluble sulphur and anti-oxidant with a respective 30,000 tonnes each will offset the selling price correction. We maintain OUTPERFORM with an unchanged TP of $0.68 as we expect the increase in sales volume in FY22 and FY23 to offset the downswing in ASPs. Read More: https://www.kgieworld.sg/research/china-sunsine-chemicals/ - @kgisg 526 views05:20
