Is it significantly easier to make money in the U.S. stock market than in China’s A-share market?

The biggest recent impression from trading U.S. stocks has been earnings reports. If a U.S. company’s earnings report beats expectations—or if its earnings call provides an upbeat forward-looking guidance—the stock typically opens higher and continues rising afterward. In contrast, A-share stocks tend to rally in advance: prices often start climbing one month before the earnings release and begin declining subtly during the week leading up to it. It’s unclear where these early market moves originate—perhaps from insider information—but it’s truly frustrating.

Spice and fragrance companies are surging dramatically! Have the four global giants made a fortune? Are domestic firms rushing to go public?

To this day, people’s passion for fragrance remains as strong as ever. As one user noted, the report ‘Insights into 2024 Online Perfume & Fragrance Consumption Trends’ shows that between September 2023 and August 2024, perfume and fragrance-related topics generated a total of 116 million mentions on social media—a year-on-year surge of 99.64%. Engagement volume also reached 1.401 billion, up 10.14% year-on-year. Meanwhile, online sales of perfume and fragrance products remain robust: the trailing twelve-month (MAT) sales through August 2024 totaled RMB 17.963 billion, up 7.11% year-on-year. The rise of the ‘olfactory economy’ has brought perfumes and fragrances increasingly into the public spotlight. Yet their upstream industry—spice and fragrance ingredients—has long remained under the radar. It was only in 2024, when the four global industry giants released their financial results, that the true developmental trajectory of this sector became visible. Against this backdrop, this analysis focuses on the global spice and fragrance ingredients industry to unveil its long-hidden dynamics. Recovery and IPOs The Spice and Fragrance Ingredients Industry Enters a ‘New Phase’ RMB 1.475 billion! Stellar Financial Performance by the Four Global Giants By U.S. Eastern Daylight Time on August 6, the first-half 2024 financial reports of the world’s four leading international spice and fragrance ingredients companies—DSM-Firmenich, Givaudan, IFF, and Symrise—had all been published. Notably, the combined revenue from their spice and fragrance ingredients businesses exceeded RMB 4.75 billion in the first half of 2024, reflecting strong commercial momentum [1]. According to the reported data: DSM-Firmenich’s Perfumery & Beauty (P&B) division achieved the highest revenue at €629.8 million (approximately RMB 1.57 billion) [2]; Symrise’s Fragrance & Care division saw revenue rise 12.1% year-on-year to €993 million (approximately RMB 7.8 billion) [3]; Givaudan’s Fragrance & Beauty division posted revenue of CHF 1.826 billion (approximately RMB 1.51 billion), up 9.2% year-on-year [4]; and IFF’s Home & Personal Care fragrance and flavor division generated USD 1.248 billion (approximately RMB 8.9 billion) [5]. The phrase ‘water and fire intertwined’ aptly describes the situation faced by the four global spice and fragrance ingredients giants in 2023—a year overshadowed by ‘weak growth.’ Financial data for fiscal year 2023 showed Symrise’s profits fell short of expectations; DSM-Firmenich confronted simultaneous declines in both revenue and profit; and IFF’s overall operational performance deteriorated [1]. Nonetheless, despite modest fluctuations in overall performance, the specialty spice and fragrance ingredients business demonstrated resilience, bucking the trend to maintain profitability. Fortunately, after weathering cyclical volatility—and even crises—in the broader chemical industry, these giants finally achieved a recovery and growth in their first-half 2024 results. This positive momentum continued into their most recently released third-quarter financial reports. Givaudan’s Q3 2024 sales rose 10.2% to CHF 1.907 billion (approximately RMB 1.574 billion); its cumulative group sales for the first three quarters reached CHF 5.644 billion (approximately RMB 4.618 billion), up 13% year-on-year. Its Fragrance & Beauty division posted quarterly revenue of CHF 956 million (approximately RMB 782.5 million), with total sales for the first three quarters reaching CHF 2.782 billion (approximately RMB 2.276 billion)—a 15.6% increase at constant exchange rates.

IFF Stock Trades Higher Ahead of November 3 Earnings Report

Oct 15, 2026

International Flavors & Fragrances Inc stock rose 1.73% ahead of its Q3 earnings report scheduled for November 3, 2026. Investors are monitoring the upcoming results following a 29% revenue decline in the previous quarter.

ad-hoc-news.de

2026-04-07

BNP Paribas Exane Lowers Price Target for International Flavors & Fragrances (NYSE:IFF)

2026-04-07

International Flavors & Fragrances Inc. Stock Underperforms on Tuesday

2026-04-08

International Flavors & Fragrances Inc. Given Consensus Recommendation of "Moderate Buy" by Analysts

2026-04-09

OFI Invest Asset Management Reduces Stake in International Flavors & Fragrances

2026-04-10

Douglas Lane & Associates LLC Sells 39,607 Shares of International Flavors & Fragrances Inc.