China Sunsine (SGX:QES
) has reported sales revenue of RMB890 million for 1QFY2026 ended March 31, up 6% y-o-y, driven by higher sales volume.
For 1QFY2026, China Sunsine sold 60,916 tonnes of products, 15% higher y-o-y and hits another record high for its quarterly sales volume.
Gross profit margin declined by 2.7 percentage points to 21.4% in 1QFY2026, mainly due to lower average selling price (ASP). Net profit for the same period was at RMB69.5 million.
Although the company adjusted upwards its ASP due to higher raw materials, it was constrained by pre-agreed lower quarterly prices which accounted for approximately half of 1QFY2026 orders.
As a result, ASP declined 7% y-o-y to RMB14,511 per tonne, despite increasing by 4% on a q-o-q basis. China Sunsine expects an increase in its ASP in the next quarter due to the recent increase in raw materials prices.
Looking ahead, beyond market expansion and enhancing internal efficiency, China Sunsine aims to maintain its market leadership position and remains confident on its profitability and future growth.
See also: Metro Holdings issues profit guidance for FY2026 results, expects overall net loss
Shares of China Sunsine closed 0.5 cents lower, or 0.72% down at 69 cents on April 30.
