China Starch (HKG:3838) expects a pre-tax profit of between 800 million yuan and 840 million yuan for 2024, up from 177 million yuan a year prior, a Tuesday bourse filing said.
The cornstarch manufacturer attributed the forecast mainly to lower market prices of raw material corn kernels, higher production and sales of lysine products, and a larger market share.
Shares of the company were up nearly 24% in recent trade.
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