China Starch Reports Significant Mid-Year Profit

China Starch Holdings Limited (HK:3838) has released an update.

China Starch Holdings Limited has issued a positive profit alert, expecting a significant turnaround with a profit before taxation of approximately RMB350 million for the first half of 2024, contrasting sharply with a loss in the same period of 2023. This encouraging financial forecast is attributed to improved market sentiment for their major products, increased production and sales of lysine following expansion, and lower corn kernel prices. However, the company maintains a cautious outlook for the latter half of the year and advises shareholders and investors to exercise caution.

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