China Sunsine Chemical Holdings Ltd. · SGX:QES
China Sunsine Chemical — FY2025 Earnings Presentation
37 slides from China Sunsine Chemical's earnings presentation, Mar 2, 2026
Slide 1: 2H2025 & FY2025 Results Briefing
2H2025 & FY2025 Results Briefing 2 Mar 2026 CHINA SUNSINE CHEMICAL HOLDINGS LTD. 中国尚舜化工控股有限公司 1
Slide 2: Disclaimer
Disclaimer 2 The information contained in this presentation is provided for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to purchase, securities of CHINA SUNSINE CHEMICAL HOLDINGS LTD. (“CHINA SUNSINE”). This presentation includes certain forwar
Slide 3: Presentation Outline
Presentation Outline 3 Our Financial Key Industry Info 01 Company 02 Overview 03 Developments 04 and Outlook
Slide 4: Our Company
4 Our Company
Slide 5: About China Sunsine
About China Sunsine 5 China’s #1 Rubber Chemical producer World’s #1 Rubber Accelerators producer Top Insoluble Sulphur producer Key player in anti-oxidants production Premium products with comprehensive range Accredited by global leading tyre makers Committed to stringent environmental standards
Slide 6: Our Products: Rubber Chemicals
Our Products: Rubber Chemicals 6 Essential Additives in the production of rubber products Insoluble Sulphure (IS) Rubber Accelerators (RA) Improves tyre strength, structural integrity, and resistance to heat Reduce curing time, improve tyre and tyre wear strength, elasticity, and durability, and opt
Slide 7: Rubber/Rubber Chemicals Consumption
Rubber/Rubber Chemicals Consumption 7 Global Rubber Consumption by Applications Rubber Chemicals Consumption in Tyre Manufacturing Others 2% Anti-oxidants Industrial 2.2% 8% Footwear Vulcanizing 7% agents 2.0% Accelerators Non-tyre 1.7% automotive 13% Tyre 70% Rubber www.fortunebusinessinsights.com
Slide 8: Our Production Bases
Our Production Bases 8 5 production bases in Shanxian, Weifang, Shandong province, P.R.China China Sunsine – Leading rubber chemical producer in China Production capacity: • RA : 135,000 tonnes p.a. • IS : 60,000 tonnes p.a. • AO : 77,000 tonnes p.a. Supporting facilities: • Centralised heating plan
Slide 9: Our Strong Customer Base
Our Strong Customer Base 9 Over 1,000 customers worldwide Serves > 3/4 of the global top 75 tyre makers (e.g., Bridgestone, Goodyear, Michelin) >40% output exported
Slide 10: World Largest Accelerators Producer
World Largest Accelerators Producer 10 Group’s market share of our rubber accelerators products 40% 36% 34% 35% 35% 35% 31% 33% 33% 33% 33% PRC * 29% 30% 30% (Est) 30% 28% 24% 24% 25% 24% 22% 23% 23% 25% 22% 19% 20% 20% 20% Global* 20% 18% 14% 16% 17% 17% (Est) ● 15% ● 11% 12% 12% ● 10% 7% 5% ● ● 0%
Slide 11: Financial Overview
11 Financial Overview
Slide 12: Financial Highlights
Financial Highlights 12 RMB ’mln 6 Months Ended 12 Months Ended 31/12/25 31/12/24 Change 31/12/25 31/12/24 Change Group Revenue 1,587.2 1,766.4 (10%) 3,277.4 3,515.5 (7%) Gross Profit 354.5 416.4 (15%) 770.3 850.0 (9%) Gross Profit Margin 22.3% 23.6% (1.3 pts) 23.5% 24.2% (0.7 pts) Pre-tax Profit 19
Slide 13: Revenue Growth
Revenue Growth 13 RMB ’mln 4,000.0 3,725.2 3,825.1 3,490.5 3,515.5 3,283.3 3,277.4 3,000.0 2,738.4 2,691.7 2,333.7 2,036.9 1,766.4 2,000.0 1,859.1 1,587.2 1,000.0 0.0 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 2H24 2H25 • FY2025 revenue dropped 7% YoY mainly due to lower Average Selling
Slide 14: Sales Segments Analysis
Sales Segments Analysis 14 Sales By Products in FY2025 Sales By Region in FY2025 IS 9% China 56% Rest of Asia Anti- 34% Accelerators oxidant 62% 28% Europe 6% Others 1% US 2% Others 2%
Slide 15: Sales Volume Growth
Sales Volume Growth 15 Tonnes 240,000 222,243 214,094 206,996 195,405 200,000 186,153 Record High 169,876 167,455 160,000 151,486 140,476 135,791 120,000 114,572 80,000 40,000 0 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Slide 16: Capacity Utilisation
Capacity Utilisation 16 Capacity Utilisation Rate FY2025 FY2024 Sales Capacity Utilisation Sales Volume Capacity Utilisation Volume (Tonnes) Rate (Tonnes) (Tonnes) Rate (Tonnes) RA 108,773 117,000 93% 107,426 117,000 92% IS 46,371 60,000 77% 40,583 60,000 68% AO 64,689 77,000 84% 64,285 77,000 83%
Slide 17: Overall ASP vs Major Material Price
Overall ASP vs Major Material Price 17 RMB/Tonne 25,000 21.5K 20.2K 20,000 19.4K 18.8K 16.6K 16.2k 16.2K 15.0K 16.0K 14.5K Overall 15,000 13.6K ASP 10.2K 10.0K 9.5K 9.5K 10,000 7.8K 8.3K Aniline 7.1K 5.2K 5.5K 4.8K 5.0K 5,000 0 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 • FY2025 ASP decr
Slide 18: Net Profit
Net Profit 18 RMB ’mln 700 641.3 642.4 600 506.3 500 388.9 423.9 404.9 400 341.3 372.5 300 221.7 218.8 235.1 195.2 200 162.2 100 0 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 2H24 2H25 • Net profit decreased by 4% YoY due to lower revenue
Slide 19: Margin Analysis
Margin Analysis 19 40.0% 34.3% 35.0% 28.8% 30.4% 29.0% 28.1% 30.0% 26.9% 26.5% 25.7% 24.2% Gross Profit 25.0% 22.9% 23.5% Margin (GPM) 19.5% 20.0% Net Profit Margin 16.8% 14.4% 13.6% (NPM) 15.0% 12.1% 12.4% 10.9% 12.5% 10.5% 9.4% 10.7% 10.0% 5.0% 0.0% FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY2
Slide 20: Balance Sheet Highlight
Balance Sheet Highlight 20 31/12/2024 31/12/2024 31/12/2023 Current Assets (RMB’mln) * 3,684.7 3,574.0 3,314.8 Current Liabilities (RMB’mln) 444.6 470.3 459.2 Current Ratio 8.29 7.60 7.22 Shareholders’ Equity (RMB’mln) 4,437.6 4,208.7 3,926.6 D/E ratio 0 0 0 ROE 9% 10% 9% NAV per share (RMB cents) 4
Slide 21: Key Developments
21 Key Developments
Slide 22: Expansion Projects in Progress
Expansion Projects in Progress 22 Project Schedule CapEx Notes 60,000-tonne Insoluble Sulphur • Adopts continuous production method, the highest standard of production technology, which Commercial was developed in-house Phase 2 of 30,000-tonne capacity production • Awarded “First Prize of Scientific
Slide 23: Expansion Projects in Progress
Expansion Projects in Progress 23 Project Schedule CapEx Notes 60,000-tonne Continuous production of High-Quality MBT (“Hengshun MBT project”) Commercial Phase I of 20,000-tonne capacity production in • MBT self-sufficiency helps lower RMB 200 mln unit production costs 4Q2024 Commercial • Adoption o
Slide 24: Capacity Expansion History
Capacity Expansion History 24 Tonnes per annum 160,000 135,000 140,000 117,000 120,000 RA 77,000 100,000 IS 80,000 AO 60,000 ● 39,000 60,000 40,000 ● ● 20,000 ● ● 5,000 ● ● ● 0 ● ● ● ● 2007 2008 2009 2010 2011 2012 2013 2014-17 2018 2019 2020-21 2022-25 2026e ● ● ● Note: Annual capacity refers to th
Slide 25: A Journey of Remarkable Growth and Success
A Journey of Remarkable Growth and Success 25 2025 254,000 5.8X Capacity (tonnes) 2007 44,000 2025 222,243 Sales Volume (tonnes) 7.1X 2007 31,281 2025 3,277 Revenue (RMB’ mln) 5.3X 2007 620 2025 404.9 Net Profit (RMB’ mln) 5.3X 2007 76.0 2025 4,437.6 Equity (RMB’ mln) 9.5X 2007 469.0
Slide 26: Industry Info and Outlook
26 Industry Info and Outlook
Slide 27: PRC New Car Sales
PRC New Car Sales 27 million units 40 20.0% 34.4 35 31.4 30.1 15.0% 30 28 28.9 28.1 25.8 26.3 26.9 24.6 25.3 10.0% 25 Total Car Sales 20 5.0% NEV Sales 15 0.0% Car Sales yoy growth 10 -5.0% 5 0 -10.0% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Source: China Association of Automobile Manu
Slide 28: PRC Vehicle Population
PRC Vehicle Population 28 PRC Motor Vehicle & Car Population (中国机动车保有量和汽车保有量） In mln units 500 469 453 435 417 395 400 372 366 348 353 327 336 310 319 290 302 300 279 281 260 240 217 194 200 172 100 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Car Population Motor Vehicle Population Sour
Slide 29: Tyre Industry Info
Tyre Industry Info 29 PRC Vehicle Tyre Production million units 1400 1,187 1,207 1200 947 988 1000 925 926 899 816 842 818 856 800 600 400 200 China is world's 0 largest tyre producer, 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 with more than 40% Source: www.stats.gov.cn of the global ou
Slide 30: Operating Environment & Industry Outlook
Operating Environment & Industry Outlook 30 • Greater challenges and uncertainties. Rising geopolitical tensions, escalating regional conflicts and growing trade protectionism heightened volatility in the global economic environment, affecting demand visibility and cross-border trade flows. • Intens
Slide 31: Group's Strategy
Group’s Strategy 31 Production & Sales Equilibrium Enhancing efficiency GOAL through operation Expanding capacity Increase market to meet growing demand improvement, waste share & reduction, and cash flow for our products. Strengthen market management. leadership position Achieving Long-term Sustain
Slide 32: Competitive Strengths
Competitive Strengths 32 - World largest RA and China’s top IS - Early adopter of Environmental protection producer initiative - Our RA products capture 35% of PRC - 1/3 of capex invested in environmental market and 23% of global market Environmental protection and safety - Listed in the first batch
Slide 33: Listed On SGX Mainboard
Listed On SGX Mainboard 33 SHARE PERFORMANCE • Since IPO, no new share placement and rights issue
Slide 34: Dividend Payment History
Dividend Payment History 34 Net Profit 1 to 2 share split Dividend (in RMB ’mln) in Nov 2019 (in SGD cents) 700 641.3 642.4 7 6.5 600 6 5.5 506.3 5.5 500 5 423.9404.9 4.5 388.9 372.4 400 341.3 4 3.5 300 3 3 3 3.23 220.2 221.7 218.8 2.5 2.5 195.2 200 2 2 76.1106.7 88.3 115.3 99.4 76.7 1.5 1.5 1.5 1.5
Slide 35: Investment Merits
Investment Merits 35 Market Leadership Position Robust Capacity Financial Expansion Position, Low P/B Ongoing Continuous share Dividend buyback Payment
Slide 36: Chairman's Message
Chairman’s Message 36 “While the global economic environment remains uncertain amid geopolitical tensions and rising trade protectionism, we are confident in the underlying fundamentals of our core markets. Domestically, although oversupply and intensified competition continue to place pressure on s
Slide 37: Q&A
37 Q&A MEDIA/INVESTOR CONTACT Tong Yiping, CFO, tongyiping@ChinaSunsine.com Jennie Liu, IR Manager, jennieliu@ChinaSunsine.com 16 Raffles Quay #15-08 Hong Leong Building, Singapore 048581 Tel:(65) 6220 6686 www.ChinaSunsine.com
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