China XLX Reports 80% Surge in Nine-Month Profit for 2024

China XLX Fertiliser Ltd. has announced a significant rise in profit for the first three quarters of 2024, with net profit jumping 75.8% year-over-year to RMB 2.031 billion. Profit attributable to shareholders soared 80.7% to RMB 1.534 billion, driven by strategic efficiency improvements, cost reductions, and resource optimization.

The company's basic earnings per share increased by 85.3%, reaching RMB 1.26, while the gearing ratio improved to 59.4%, indicating a stronger financial position. Revenue for the nine-month period was approximately RMB 17.42 billion, bolstered by increased urea sales and stable product demand.

The group achieved a 33% rise in urea sales volume, an 8% increase in melamine sales despite price declines, and a robust DMF sales volume increase of 33%. Additionally, the disposal of Tianxin Coal resulted in an investment gain of RMB 790 million.