China Sunsine Q2 net profit falls 35% on lower average selling price

SPECIALTY rubber chemicals producer China Sunsine Chemical Holdings on Tuesday posted a net profit of 155.8 million yuan in the second quarter, down 35 per cent from the same period a year earlier.

ASP in the second quarter slipped by 29 per cent from the same period a year earlier to 16,633 yuan per tonne. On a quarter-on-quarter basis, ASP fell 6 per cent. The group said in its results filing:"China's economic growth is continuing to slow down. Raw material prices are still hovering at low levels, and as such, the group's ASP for rubber chemicals is under pressure.

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