1. Hong Kong Stocks

  2. •

    Consumer non-durables

  3. •

    Food: major diversified
China Starch Holdings Limited

China Starch Holdings Limited

HHKEX:3838
0.17
HKD
+0.00
(+1.21%)
1.07BMarket Cap
China Starch Holdings Limited
HKEX:3838
(Hong Kong Exchange)

Recent

price

0.17

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
0.44
0.52
0.57
0.58
0.7
0.73
0.73
0.78
0.85
1.13
1.48
1.94
1.99
1.97
1.91
1.69
- -
Revenue per Share
0.03
0.04
0.04
0.02
0.01
0.02
0.04
0.06
0.04
0.02
0.03
0.06
0.06
0.02
0.08
0.03
- -
Basic EPS, GAAP
0.01
0.05
-0.01
-0.1
0.02
0.03
0.05
0.06
-0.08
-0.15
-0.01
0.12
0.02
- -
0.18
-0.01
- -
Free Cash Flow per Basic Share
0.01
- -
- -
- -
0.01
0.01
- -
0.01
0.01
0.01
0.01
0.01
0.02
0.01
0.01
0.01
- -
Dividend per Share
0.25
0.28
0.31
0.33
0.33
0.34
0.38
0.44
0.46
0.47
0.5
0.55
0.6
0.61
0.69
0.71
0.71
Book Value per Share
0.25
0.27
0.3
0.3
0.3
0.31
0.34
0.4
0.43
0.4
0.43
0.47
0.53
0.54
0.62
0.63
0.63
Tangible Book Value per Share
5,687
5,780
5,825
5,941
5,994
5,996
5,996
5,996
5,996
5,996
5,996
5,994
5,994
5,991
5,966
5,964
5,964
Basic Weighted Avg Shares
2,505
3,019
3,301
3,422
4,170
4,360
4,398
4,695
5,073
6,750
8,892
11,639
11,949
11,798
11,416
10,058
- -
Sales/Revenue/Turnover
6.08
9.97
7.23
3.86
3.64
2.41
6.53
10.84
5.27
1.59
2.92
4.43
5.07
1.24
7.02
2.37
- -
Operating Margin (%)
59
65
69
94
121
132
146
156
157
179
251
259
285
277
285
276
- -
Depreciation Expense
162
229
220
122
63
99
214
388
231
97
190
346
352
108
482
185
- -
Net Income, GAAP
14.02
27.08
23.1
23.75
20.98
27.33
30.55
25.45
24.42
20.42
23.67
21.24
20.24
10.99
25.36
21.4
- -
Effective Tax Rate (%)
6.46
7.59
6.65
3.57
1.5
2.27
4.86
8.27
4.55
1.43
2.14
2.97
2.95
0.92
4.22
1.84
- -
Profit Margin (%)
861
1,005
831
572
489
512
869
1,570
1,082
756
992
1,303
1,701
1,505
2,261
2,207
2,207
Working Capital
6
6
5
4
3
2
1
- -
- -
1
- -
3
- -
- -
59
73
73
LT Debt
1,458
1,656
1,866
1,979
2,014
2,083
2,302
2,747
2,926
2,961
3,134
3,492
3,822
3,937
4,494
4,651
4,651
Total Equity
12.11
13.66
10.87
4.91
2.24
3.83
8.86
14.11
6.93
2.69
6.13
11.4
12.22
3.2
11.48
3.5
- -
Return on Invested Capital (%)
12.63
14.38
12.22
5.87
3.25
4.59
9.29
15.02
7.83
3.18
5.51
8.5
5.46
1.45
6.58
2.41
- -
Return on Capital (%)
13.41
14.88
12.62
6.43
3.18
4.9
9.89
15.9
8.55
3.45
6.56
11.05
10.24
2.98
12.42
4.43
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
1,420
1,448
1,020
LT Borrowings
59
- -
61
LT Finance Leases
- -
- -
13
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5,964
5,964
5,964
Market Capitalization
1,065
1,034
965

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
4,419
4,469
4,136
Cash, Cash Equivalents & STI
2,210
1,999
1,859
Accounts Receivable, Net
83
157
87
Inventories
611
835
772
Total Current Liabilities
2,159
2,092
1,929
Payables & Accruals
- -
- -
- -
ST Debt
1,420
1,448
1,020
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.49%
8.3%
3.49%
Free Cash Flow
-1,472.46%
-2,908.7%
-106%
Net Income, GAAP
49.49%
59.87%
-61.65%
Sales/Revenue/Turnover
9.76%
3.43%
-11.89%
Total Cash Common Dividend
- -
41.76%
18.21%

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
11,798
2024
- -
- -
11,416
2025
- -
- -
10,058

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.02
2024
- -
- -
0.08
2025
- -
- -
0.03

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.01
2024
- -
- -
0.01
2025
- -
- -
0.01
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Business
China Starch Holdings Limited, an investment holding company incorporated in 2006 and headquartered in Wan Chai, Hong Kong, principally manufactures and sells cornstarch, lysine, starch-based sweeteners including glucose and maltose, modified starch, and ancillary corn-based and corn-refined products such as dextrin, food additives, animal feed additives, food-grade enzymes, bio-based materials, and lactate in the People's Republic of China through its Upstream Products and Fermented and Downstream Products segments. The company, a subsidiary of Merry Boom Group Limited, generates the majority of its revenue from upstream cornstarch and related products supplied to food, beverage, and animal feed industries primarily within China. In recent developments, the group through subsidiaries including Linqing Deneng Golden Corn Bio Limited and Golden Corn Biotech has pursued significant expansions, including multiple machinery acquisition contracts with Shanghai Senon announced between December 2024 and February 2025 and supplemented in May and June 2025 to enhance production capabilities; shareholder approval in October 2025 for a construction contract related to cornstarch production facilities; initiation in February 2025 of a cornstarch production project and thermal power plant at the Linqing site to boost annual cornstarch capacity from 1 million to 1.55 million tonnes and reduce energy reliance; and a November 2025 thermal plant construction contract with Juneng Construction for a dual boiler system and turbine generator set to commence in January 2026 and complete by March 2027.