For the period of 9 months ending 30 September 2007, China Sunsine’s revenue grew 26.4% to RMB 440.0 million, while profit after tax grew 24% to RMB 53.3 million. Profit after tax margin remains even at 12.3%, despite the post-IPO costs.
Serving Existing Customers in More Regions
China Sunsine’s strategy of serving existing customers across more geographical regions has born fruits in 3Q07. Korea’s top tyre manufacturer, Kumho Tires, has started buying rubber accelerators from China Sunsine for its Korean operations. China Sunsine previously supplied Kumho only in their vast PRC operations. Pirelli, one of the top 10 international tyre manufacturers, has placed trial orders for its Brazil and Turkey operations for 3 rubber accelerator products. Trial orders are small orders made after a supplier is accredited, a process that takes from between 6 months
to 2 years’ time. Orders are usually ramped up after 2 to 3 months, after the trial orders have been satisfactorily used in the customer’s production process.
