CHINA SANJIANG Shares Surge Over 8% on Forecast of Up to 130% Profit Jump

Stock News07-20

Shares of CHINA SANJIANG (HKEX: 02198) surged more than 8%, rising 8.7% to HK$3.25 by the time of writing, with a turnover of HK$179.01 million.

The sharp increase follows the company's recent announcement forecasting a net profit between RMB 600 million and RMB 700 million for the six months ending June 30. This represents a significant year-on-year increase of approximately 100% to 130%.

The company attributed the expected profit surge to its strategic adjustments in response to the ongoing dynamics of the current commodity market. These adjustments include changes to procurement strategies and sources, raw material mixes, and production portfolios.

CHINA SANJIANG operates as an investment holding company primarily engaged in the production and supply of ethylene oxide, ethylene glycol, polypropylene, and surfactants.

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