2021 Annual Results Highlights:
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Revenue increased by 61% YoY to approximately RMB16,815 million.
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Gross profit increased by 98% YoY to approximately RMB4,389 million.
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Profit for the year increased by 238% YoY to approximately RMB1,769 million.
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Profit attributable to owners of the parent increased by 272% YoY to approximately RMB1,294 million.
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The Board recommended the payment of a final dividend of RMB19 cents per share for the year ended 31 December 2021.
HONG KONG, CHINA / ACCESSWIRE / March 26, 2022 / China XLX Fertiliser Ltd. ("China XLX" or the "Company", together with its subsidiaries collectively known as the "Group") (HKSE:01866.HK) announced the annual results for the year ended 31 December 2021 (the "Period"). The Group's revenue amounted to RMB16,815 million, representing an increase of 61% YoY. Gross profit increased by 98% YoY to approximately RMB4,389 million. Profit for the year increased by 238% YoY to approximately RMB1,769 million, with profit attributable to owners of the parent increased by 272% YoY to approximately RMB1,294 million. The Board recommended the payment of a final dividend of RMB19 cents per share for the year ended 31 December 2021.
Along with the ongoing and evolving pandemic, stoked by global supply chain disruption, surging energy prices and food prices, demand and prices for domestic fertilisers and petrol chemical related products increased in 2021. The Third Production Base in Jiangxi Jiujiang was successfully put into operation in February 2021, and the fixed-bed renovation and upgrading project of the Group's second and third plant in Henan Xinxiang were also completed and put into production in the fourth quarter of 2021. The Group's production capacity and efficiency reached a new milestone, leading to a record high in revenue and profitability.
During the Period, revenue derived from the sales of urea increased by 61% to approximately RMB4,959 million. This was mainly due to the increase in sales volume and average selling price of urea products of the Group by approximately 16% and 39% YoY, respectively. Revenue derived from the sales of compound fertilisers increased by 19% to approximately RMB3,754 million, mainly due to the increase in average selling price. Revenue derived from the sales of methanol increased by 242% to approximately RMB1,759 million, as a result of the increase in average selling price and sales volume of the Group by 53% and 124% YoY, respectively. The increased sales volume of methanol was mainly attributable to the new capacity from the Third Production Base in Jiujiang. Revenue derived from the sales of DME increased by 92% to approximately RMB1,439 million, which was mainly due to the sharp rise in international energy prices, leading to an increase in average selling price and sales volume of DME by 39% and 38% YoY, respectively. Revenue derived from the sales of melamine increased by 94% to approximately RMB1,206 million, mainly due to an increase in average selling price resulting from the strong rebound in demand and prices of the domestic chemical products. Revenue derived from the sales of furfuryl alcohol products increased by 59% to approximately RMB835 million, mainly due to the increase in average selling price.