Core Viewpoint - China Starch (03838) experienced a significant decline of over 8% in its stock price, attributed to disappointing mid-term results for 2025, which showed a decrease in both revenue and profit [1] Financial Performance - The company reported a revenue of 5.115 billion RMB for the period, representing a year-on-year decrease of 9.4% [1] - The profit attributable to the company's owners was 151 million RMB, down 29.47% compared to the previous year [1] Market Conditions - The decline in revenue was primarily due to a decrease in the average selling price of the company's products and a reduction in total sales volume [1] - The price of corn kernels, a key raw material, has significantly increased, adding pressure on the company's cost structure [1] - The company faced challenges from both product price reductions and substantial increases in raw material costs, leading to a decrease in gross profit and significant pressure on profit margins [1]

Core Viewpoint - China Starch (03838) reported a revenue of 5.115 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 9.4% [1] - The company's attributable profit was 151 million RMB, down 29.47% year-on-year, with basic earnings per share at 0.0254 RMB [1] Revenue and Profit Analysis - The decline in revenue was primarily due to a decrease in the average selling price of products and total sales volume [1] - The significant increase in the market price of corn kernels, a key raw material, contributed to the financial pressures faced by the company [1] Margin and Cost Pressure - The company experienced downward pressure on product prices and a substantial rise in raw material costs, leading to a reduction in gross profit [1] - The gross profit for the six months ending June 30, 2025, was 429 million RMB, compared to 507 million RMB in 2024 [1]

Core Viewpoint - The corn starch market is experiencing slight price increases, with the benchmark price rising to 2944.00 CNY/ton, reflecting a 0.14% increase compared to the beginning of the month [1] Price Overview - As of July 3, 2023, various corn starch prices are reported, with edible grade starch priced at 2900 CNY/ton in Henan province and food-grade starch at 3000 CNY/ton in Zhengzhou [2] - The futures market shows the main corn starch contract closing at 2731.00 CNY/ton, with a slight decline of 0.15% [2] Production and Processing Data - From June 26 to July 2, 2023, the total corn processing volume reached 544,700 tons, a decrease of 0.15 million tons from the previous week, while corn starch production increased to 264,900 tons, up by 0.02 million tons [3] - The operating rate for corn processing plants is reported at 51.2%, an increase of 0.05% from the previous week [3] Market Analysis - According to Nanhua Futures, the corn starch market is currently stable, with companies primarily fulfilling previous orders and maintaining a watchful stance on raw material prices [4]