CHINA XLX FERTILISER LTD. Press Release
(For immediate release)
China XLX Announces Strong 1H'2015 Profit Forecast
(6 July 2015, Hong Kong) China XLX Fertiliser Ltd. ("China XLX Fertiliser" or the "Company") (HKSE: 01866.HK) is pleased to announce that the Company's profit for the six months ended 30 June 2015 (the "Period") is expected to rise up to 260-290%.
The strong increase in profit is primarily attributable to the strong increase in sales of the high-efficiency fertilizer, which increased the overall profitability and the market competitiveness. Secondly, the Plant IV adopted the most advanced clean coal gasification technology, which substantially facilitated the production efficiency while saving costs. In the Period, the average selling price of the urea increased, while the cost of coal, the major raw material, decreased, which further underpinned the profitability.
China XLX Chairman and Chief Executive Officer Mr. Liu Xingxu commented on the strong performance, "China XLX has been committed to technological development and innovation, which has effectively facilitated the promotion of high-efficiency fertilizer and the market recognition. As a result of our constructive effort, the profit would rise substantially. We will continue to leverage our technological edge and the continuously expanding market share to create synergies and maximize the value for our shareholders."
The Company is still reviewing the unaudited consolidated accounts during the
Period. The interim results are expected to announce by the end of July 2015.
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China XLX Fertiliser Ltd., one of the largest and most cost efficient coal-based urea producers in China, is mainly engaged in the production and sale of urea, compound fertiliser and methanol. Its annual production capacity of urea, compound fertilizer, methanol and furfuryl alcohol is 2.1 million tons, 1.1 million tons, 300,000 tons and 50,000 tons, respectively. Besides, the 5th plant in Xinxiang, which is under construction, is expected to commence trial production in 2015. The Group forged a strategic partnership with Primavera Capital, an
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internationally renowned private equity fund, at the end of 2011, aiming to leverage on its extensive experience and resources network in the capital market to sustain stable business growth. The Company's shares are traded on the main boards of the Stock Exchange of Hong Kong Limited (stock code:
01866.HK).
Investor and Media Enquiries:
China XLX Fertiliser Ltd. Zhu Weiwei
Tel: 86-138 4939 1363
Email: weiwei.zhu@chinaxlx.com.hk
PRChina Limited
Peggy Yuan / Charles Chan
Tel: 852-2522 1368
Email: jyuan@prchina.com.hkckchan@prchina.com.hk
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