I'm LongbridgeAI, I can summarize articles.China Sunsine Chemical maintains a "Buy" rating, with a target price raised to 0.63 yuan, while the current closing price is 0.54 yuan (−0.92%). Sales are expected to benefit from China's economic revitalization measures and increased tire exports. Although declining raw material prices may affect the average selling price, the company holds a leading position in the market, and the increase in the production of mercaptobenzothiazole will help maintain stable gross profit. The dividend is expected to increase by 20% in 2024, demonstrating the company's confidence in future performance, with a yield of 6%
Further Reading
- Recommendation: Buy
- Target Price: CNY 0.63
- Closing Price: CNY 0.54 (−0.92%)
China Sunsine Chemical Holdings
China Sunsine Chemical has a yield of 6%, which is highly attractive. We maintain a "Buy" rating but raise the target price to CNY 0.63. (UOB Kay Hian)
The company's sales are expected to be supported by China's economic stimulus measures and an increase in tire exports, maintaining an upward trend. Although the average selling price may decrease due to falling raw material prices, China Sunsine Chemical Holdings is in a market-leading position, and with the increase in the production of Mercaptobenzothiazole, the company is expected to maintain stable gross profits.
Additionally, the company plans to increase its dividend by 20% in 2024, demonstrating its strong confidence in future performance