CHINA XLX FERT (01866) announced its financial results for the first quarter of 2026. During the period, the company achieved revenue of 68.22 billion yuan, representing a year-on-year increase of 17%. Net profit attributable to owners of the parent company amounted to 2.996 billion yuan, a rise of 52% compared to the same period last year. Basic earnings per share were 24.1 fen.
In the first quarter of 2026, the overall operating environment of the fertilizer industry remained stable and improved, supported by the release of agricultural demand and the backing of raw material costs. The group seized the development opportunities within the industry by intensifying research and development of differentiated, high-efficiency fertilizers and optimizing its product mix. The increased proportion of high-value-added products in both production and sales contributed to a steady rise in the average product price. Additionally, the group accelerated the innovation and transformation of its marketing model, continuously expanded domestic and international sales channels, and capitalized on export opportunities in the global market, further increasing the scale of chemical product exports. This resulted in simultaneous growth in both volume and price of its core products.
Concurrently, the Phase II project in Jiujiang commenced operations smoothly, with new production capacity being released in an orderly manner. The scale effect gradually became prominent, leading to a further reduction in unit production costs. The combined impact of these factors drove a significant increase in overall gross profit, providing solid support for the group's performance growth.
Meanwhile, the group continued to optimize its equity structure and steadily advanced the acquisition of minority shareholdings. In the first quarter, it completed the acquisition of approximately 10.66 million shares from minority shareholders. The proportion of shares held by the parent company increased by 0.55 percentage points to 83.32%, further strengthening the parent company's ownership stake. This enhancement improves the group's governance efficiency and better safeguards the interests of all shareholders.