In its 1Q business update, the group adds that it is “optimistic” with its FY2021 financial performance.
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Sinostar PEC Holdings, which produces and supplies downstream petrochemical holdings within the Shandong Dongming Petrochemical Industrial Zone, announced earnings of RMB59.3 million ($12.2 million) for the 1QFY2021 ended March, 7,307.9% higher than earnings of RMB0.8 million in the year before.
The group reported net profit of RMB74.4 million, reversing from its net loss of RMB2.8 million in the 1QFY2020.
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