Domestic sales volumes however, saw a marginal 1% y-o-y decline, to which Mo and Cheong expect to improve as China’s target stimulus measures are to aid consumption recovery.
UOB Kay Hian analysts Heidi Mo and John Cheong are maintaining their “buy” call on China Sunsine Chemical along with a raised target price (TP) of 63 cents from 58 cents previously.
In 2024, the group achieved a record sales volume of 214,094 tonnes, driven by an 11% y-o-y increase in international sales volume on robust demand from Southeast Asia-based tyre manufacturers.
