Sanjin Chemical Industry (02198.HK)'s annual net profit decreased by 23.5% to HKD 407 million, with a final dividend of 5 HK cents per share.

Gelonghui March 27 | China Sanjiang Fine Chemicals (02198.HK) announced its annual results. For FY2025, the Group recorded revenue of approximately RMB 18,468.2 million, representing a year-over-year decrease of approximately 5.7%. Gross profit was approximately RMB 898.2 million, with a gross margin of approximately 4.9%, compared with gross profit of approximately RMB 1,110.6 million and a gross margin of approximately 5.7% in 2024. The year-over-year change was due to an increase in the contribution from ethylene glycol and surfactants, a decrease in the contribution from ethylene oxide, weakening polypropylene economics that were close to break-even, and gross profit losses in certain fuel and by-product lines (especially some cracking by-products).

In 2025, ethylene glycol became the Group’s largest revenue contribution source, accounting for approximately 22.2% of total revenue. Next were surfactants at approximately 19.6%, polypropylene at approximately 19.0%, ethylene oxide at approximately 10.5%, and methyl tert-butyl ether at approximately 6.5%. These five lines together accounted for approximately 77.8% of total revenue. Therefore, the product mix for 2025 remained concentrated on the Group’s ethylene oxide/ethylene glycol and surfactant platform; however, the contributions from methyl tert-butyl ether, butadiene, and other non-core by-products remained significant enough to affect the quality of consolidated profit.

For FY2025, profit before tax was approximately RMB 522.6 million, and profit attributable to owners of the parent company was approximately RMB 407.3 million, representing a year-over-year decrease of approximately 23.5%. Basic earnings per share were approximately RMB 35.2 cents, compared with approximately RMB 45.99 cents in 2024. The proposed final dividend is RMB 5 HK cents per share.