Stock Name: ChinaSsine
Company Name: CHINA SUNSINE CHEM HLDGS LTD.
Phillip Securities Research in an Apr 30 research report says: "China Sunsine reported a decent set of results for 1Q12. The company achieved record revenue on the back of record sales volume. 1Q12 revenue was RMB324 million, an improvement of 27.1% over the same period a year ago.
"Net income doubled to RMB26.9 million. However on an adjusted basis, net income actually fell 14.1%. The strong growth in revenue was propelled by a marketing strategy that involves ASP reduction.
"Going down to the bottom line, this explains the drop in net income on an adjusted basis, which also highlights the competitiveness of the industry. We are now looking out for two issues. Customers’ response to 6PPD and positive accretion of “price reduction” strategy. Target price of 25 cents. MAINTAIN HOLD
Company Name: CHINA SUNSINE CHEM HLDGS LTD.
| Research House: Phillip Securities | Price Call: HOLD | Target Price: 0.25 |
Phillip Securities Research in an Apr 30 research report says: "China Sunsine reported a decent set of results for 1Q12. The company achieved record revenue on the back of record sales volume. 1Q12 revenue was RMB324 million, an improvement of 27.1% over the same period a year ago.
"Net income doubled to RMB26.9 million. However on an adjusted basis, net income actually fell 14.1%. The strong growth in revenue was propelled by a marketing strategy that involves ASP reduction.
"Going down to the bottom line, this explains the drop in net income on an adjusted basis, which also highlights the competitiveness of the industry. We are now looking out for two issues. Customers’ response to 6PPD and positive accretion of “price reduction” strategy. Target price of 25 cents. MAINTAIN HOLD
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