China Sanjiang (02198) announced its interim results for the six months ended June 30, 2025. The group achieved revenue of RMB9.106 billion, representing a decrease of 1.5% year-on-year. Net profit attributable to equity holders of the parent company reached RMB301 million, a significant increase of 95.5% compared to the same period last year. Earnings per share stood at 26.01 cents.
Compared to the same period in 2024, the company's net profit attributable to equity holders surged approximately 95.5% to RMB301 million. This impressive performance was primarily driven by the favorable market conditions for several key products, particularly ethylene glycol, combined with the group's flexible operational strategies. Sustained downstream demand from the polyester industry led to significant increases in both the average selling price and gross margin of ethylene glycol.
Meanwhile, the group dynamically adjusted its procurement strategies, raw material mix, and production portfolio in response to external market changes, including the impact of comprehensive tariffs imposed by the US government on ethane exports to China. These adjustments ensured the group maintained competitive advantages in terms of cost efficiency and product pricing.
Despite the challenging market environment, the group's overall gross margin improved by approximately 0.9 percentage points to about 5.1% compared to the same period in 2024. Additionally, the group benefited from favorable price movements of silver, a key component of catalysts used in its production facilities, which contributed approximately RMB81.3 million to profit during the period.
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