China XLX reports 26% profit increase and reduced debt-to-asset ratio, driven by higher urea, compound fertilizer, and methanol sales.
China XLX, a fertilizer and fine chemical company, reports a 0.02% revenue increase YoY to RMB 12.061bn, driven by a 26% jump in profit. Debt-to-asset ratio has decreased for four consecutive years and gearing ratio fell to 62.7%. Urea, compound fertilizer, and methanol sales increased due to a stable domestic economy and downstream demand recovery. Urea sales volume rose 25%, boosting the gross profit margin to 31%. Compound fertilizer sales volume increased by 13%, upping the gross profit margin to 18%.
August 25, 2024
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