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China Sunsine, listed on the SGX, is a leading specialty chemical producer known for manufacturing rubber accelerators, insoluble sulfur, and anti-oxidants. It holds the title of the largest producer of rubber accelerators globally and is the largest rubber chemicals enterprise in the People’s Republic of China. The company serves over three-quarters of the world's top 75 tire makers, including industry giants like Bridgestone, Michelin, Goodyear, and Pirelli. As shown in the image below, China Sunsine has a vast customer base, with more than 1,000 clients worldwide, and exports 40% of its output, highlighting its strong global presence.
Its market share is also increasing both domestically and globally very steadily. The business is able to maintain its foothold in various countries despite the competitive landscape that it has reported.
China Sunsine has production facilities located in Shanxian, Weifang, and Dingtao in Shandong Province, PRC. Its current total production capacity is 254,000 tonnes per annum, which includes 117,000 tonnes of rubber accelerators, 60,000 tonnes of insoluble sulfur, and 77,000 tonnes of anti-oxidants, as shown in the picture below. Additionally, the company operates a centralized heating plant in Shanxian that generates both steam and electricity. China Sunsine’s products are marketed under the “Sunsine” brand, primarily catering to tire manufacturers, which are heavily reliant on the automobile industry.
The table below provides a detailed breakdown of China Sunsine's sales and sales volume of rubber chemicals. All its products experienced an increase in sales volume. Domestic sales rose by 9% to 130,547 tonnes, while international sales grew by 16% to 76,449 tonnes overall. This indicates that the company is increasingly focusing on international expansion to alleviate pressure from the competitive domestic market. Currently, most of its sales growth is concentrated in the rest of Asia, which accounts for about 34% of total sales, compared to 56% from China. However, its expansion efforts have yet to gain significant traction in the U.S. and Europe, where sales have remained relatively stable over the past few years.
