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Earnings Working Against China BlueChemical Ltd.'s (HKG:3983) Share Price
CHINA BLUECHEM: 2024 Interim Report
CICC: Global potassium fertilizer production capacity is limited, bullish on the industry's outlook.
In 2024, the contract price for imported potash fertilizer is CFR $273 per ton, and the corresponding domestic market price including taxes is estimated to be around 2,300 yuan per ton. Considering the support role of the contract price of potash fertilizer and the subsequent gradual entry into the peak season for fertilizer use, I am bullish on the maintenance of a prosperous domestic potash fertilizer price.
[Brokerage Focus] Haitong Int'l first gives China Bluechem (03983) a "outperform the market" rating, stating that its acrylic nitrile production capacity release, fertilizer and methanol contribute to stable profits.
Jingu Finance News | Haitong Int'l issued a research report, stating that China Bluechem (03983) achieved revenue of 10.511 billion yuan, 13.457 billion yuan, 14.321 billion yuan, 13.041 billion yuan, 6.017 billion yuan respectively in 2020-2024 H1, with year-on-year changes of -3.97%, +28.03%, +6.42%, -8.93%, -2.74% respectively; and net income after non-recurring gains and losses of 0.659 billion yuan, 0.853 billion yuan, 1.514 billion yuan, 1.398 billion yuan, 0.622 billion yuan, with year-on-year growth of +34.80%, +29.53% respectively.
China BlueChemical Reports Decreased Mid-Year Profits
China Bluechem (03983.HK) achieved a net income of 0.687 billion yuan in the first half of the year.
China BlueChem (03983.HK) announced that, for the six months ending June 30, 2024, its revenue was RMB 6.007 billion, gross profit was RMB 1.003 billion, and the net income attributable to equity holders of the company was RMB 0.687 billion.
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