China XLX (01866.HK) 2024 Semi-Annual Results Conference Successfully Held

On 27 August 2024, the 2024 half-yearly results conference of China XLX Fertilizer Company Limited (01866.HK) was successfully held in Hong Kong. Mr. Zhang Qingjin, Ms. Yan Yunhua and Ms. Xu Hao, the executive directors and the director of strategic planning, attended the results conference.

At the meeting, the management team first introduced the company's first half-year operating results, and explained to investors the company's core development advantages and future strategic deployment. The management of the Company provided detailed answers to questions of interest to investors and the media.

In the first half of the year, the Group's profitability level rose steadily. Gross profit rose driven by the improvement in product scale and profitability, and the Company's net profit rose 21% year-on-year to RMB938 million. With the stable recovery of the domestic economy, the downstream demand is continuing to recover, and the sales volume of urea and compound fertilizer of the Group increased significantly.

With the smooth operation of the Company's three major bases, the Company's production capacity scale achieved a significant leap forward, process technology was comprehensively upgraded, the total asset scale continued to expand, the asset structure was further optimized, the corporate gearing ratio declined, and the financial risk was gradually reduced.

In his concluding remarks, Executive Director Zhang Qingjin said, “The company's steady development in recent years has been attributed to its grasp of market opportunities and strategic deployment of major bases, which has enabled us to be an industry leader in various aspects such as base layout, channel construction, and production and operating costs.”