China Sunsine to report hefty increase in third-quarter profits

SINGAPORE - China Sunsine said that its third quarter profits will show a substantial increase.

The Singapore-Exchange listed company said on Monday morning that the surge is due to the increase in both average selling price and sales volume of the group's products.

The expected profit growth is consistent with the recent trend of increased average

selling price and sales volume of the group's products already seen in the last two quarters. The results will be released before Nov 14.

Its last traded price on Friday was 40.5 cents.

China Sunsine is a specialty chemical producer selling accelerators, anti-oxidant, vulcanising agent and anti-scorching agent. It is the largest producer of rubber accelerators in China and serves manufacturers such as Bridgestone, Michelin and Goodyear as well as Chinese firms such as Hangzhou Zhongce, GITI Tire and Shanghai Double Coin Tyre.