Asia
Satellite Chemical Expect Up to 155% Surge in H1 Profit; Shares Rise 10%
Satellite Chemical (SHE:002648) forecasts its attributable profit to soar 119% to 155% to between 6 billion yuan and 7 billion yuan in the first half from 2.74 billion yuan in the year-ago period, according to a Tuesday filing with the Shenzhen bourse.Earnings per share are seen to rise to between 1.78 yuan and 2.08 yuan from 0.81 yuan a year earlier.The chemical company attributes the foreseen increase to the use of its integrated industrial chain advantages, cost optimization, and stable operation of facilities, among others.Shares surged 10% during afternoon trading on Tuesday.
SHE:002648