Financial Performance - For the first three quarters of 2025, the company's operating revenue reached RMB 17,962,803,000, an increase of approximately 3.1% compared to RMB 17,419,724,000 in the same period last year[5] - Net profit for the same period was RMB 1,008,393,000, a significant decrease of about 50.4% from RMB 2,031,307,000 year-on-year[5] - The total sales revenue reached RMB 17,962,803,000 with a gross profit of RMB 2,899,732,000, resulting in an overall gross margin of 16%[16] Production and Sales - The production volume of key products such as urea, liquid ammonia, and DMF decreased by approximately 269,000 tons, representing a year-on-year decline of about 19% due to maintenance activities[4] - Urea sales volume decreased by 14% year-on-year due to maintenance at key production bases, while compound fertilizer sales volume increased by 12% year-on-year[22] - Methanol production reached 1,180,000 tons, a 37% increase year-on-year, despite a 6% overall decline in production due to maintenance[23] Asset Management - The total assets of the group increased by 20% to approximately RMB 37,060,187,000 compared to RMB 32,518,244,000 at the beginning of the period[7] - The net asset attributable to the parent company rose to RMB 9,753,067,000, up from RMB 8,961,166,000 at the beginning of the period[7] - The company's asset-liability ratio increased to 64.8%, up from 61.5% at the beginning of the period, primarily due to an increase in loan scale[7] Cost Control and Efficiency - The company focused on internal cost control, with the ratio of three expenses to revenue decreasing by 1 percentage point year-on-year, despite an increase in sales expenses due to higher product sales[6] - The average loan interest rate decreased by 0.6 percentage points to 3.2%, optimizing the financing cost and borrowing structure[8] - The construction of the chemical new materials project in Xinxiang is progressing as planned, with a projected completion of the ammonia production line by the end of 2025, which is expected to lower production costs by about 12%[32] Market Strategy and Competitiveness - The successful commissioning of the Jiujiang Phase II project is expected to enhance the company's market competitiveness and support long-term profit growth[4] - The company aims to enhance its market competitiveness and profitability through the gradual release of low-cost production capacity and the introduction of differentiated high-efficiency fertilizer products[35] - The company is focusing on a "low cost + differentiation" strategy to enhance brand value and industry scale, leveraging technological innovation and efficient operations[37] Pricing and Margins - The average selling price of urea decreased by 16% year-on-year, influenced by increased market supply and weak downstream demand[17] - The gross margin for the chemical segment increased by nearly 45% year-on-year, driven by low-cost ammonia and methanol as raw materials[15] - The gross margin for melamine improved to 34%, up 3 percentage points, supported by cost reductions and favorable export pricing[30] - The average selling price of DMF decreased by 6% year-on-year due to oversupply and weak demand in the downstream market[20] - DMF gross profit margin increased due to a 14% year-on-year decline in comprehensive costs, with production costs reduced by approximately 4% and raw material coal prices down nearly 10%[31] Future Outlook - The company anticipates a stable fertilizer market in Q4 2023, despite traditional seasonal demand weakness, due to the accelerated elimination of backward production capacity and environmental policy controls[36] - The Jiujiang Phase II project is expected to reduce comprehensive production costs by approximately 10% while maintaining full-load production of urea[34] - The company plans to enhance the promotion of high-margin products like compound fertilizers to improve profitability amid a weak pricing environment[17]

Core Viewpoint - China Heartland Fertilizer (01866.HK) announced that it will hold a board meeting on October 24, 2025, to consider and approve the publication of the unaudited third-quarter performance announcement for the three months ending September 30, 2025 [1] Group 1 - The board meeting is scheduled for October 24, 2025 [1] - The agenda includes the consideration and approval of the unaudited third-quarter results [1] - The performance announcement will be published on the Hong Kong Stock Exchange website [1]

承董事會命 中國心連心化肥有限公司 董事會主席 劉興旭 香港，二零二五年十月十四日 於本公告日期，本公司執行董事為劉興旭先生、張慶金先生及閆蘊華女士；本公司獨立 非執行董事為王建源先生、李生校先生、王為仁先生及李紅星先生。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA XLX FERTILISER LTD. 中國心連心化肥有限公司 * （ 在 新 加 坡 註 冊 成 立 之 有 限 公 司 ） （香港股份代號：1866） 董事會會議召開日期 中國心連心化肥有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將於二零二 五年十月二十四（星期五）舉行董事會會議，其中議程包括考慮及批准刊發本公司及其附 屬公司截至二零二五年九月三十日止三個月之未經審核第三季度業績公告於香港聯合交 易所有限公司網站。 * 僅供識別 ...

Core Viewpoint - China Heartland Fertilizer (01866) is experiencing a significant decline in stock price, dropping over 3% to HKD 7.39, with a trading volume of HKD 13.98 million. The company anticipates a substantial decrease in net profit for the first three quarters of 2025 compared to the previous year [1]. Financial Performance - The company expects to achieve a net profit of approximately RMB 960 million to RMB 1.06 billion for the first three quarters of 2025, representing a year-on-year decrease of 53% to 48% [1]. - The anticipated net profit after deducting non-recurring items is also projected to be around RMB 960 million to RMB 1.06 billion, reflecting a year-on-year decline of 27% to 19% [1]. - The net profit attributable to the parent company is expected to be between RMB 760 million to RMB 840 million, indicating a year-on-year decrease of 50% to 45% [1]. Operational Factors - The decline in performance is attributed to factors such as base maintenance and falling product prices [1]. - Despite the challenges, the successful commissioning of the second phase of the Jiujiang base project is seen as a positive development, laying a foundation for future project construction and supporting long-term high-quality growth [1].

Core Viewpoint - China Heartland Fertilizer (01866) is expected to see a significant decline in net profit for the first three quarters of 2025, with projections indicating a decrease of 48% to 53% year-on-year [1] Financial Performance - The company anticipates a net profit of approximately 9.6 to 10.6 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 53% to 48% [1] - The expected net profit after deducting non-recurring items is also projected to be around 9.6 to 10.6 billion yuan, reflecting a year-on-year decline of 27% to 19% [1] - The net profit attributable to the parent company is forecasted to be between 7.6 to 8.4 billion yuan, which indicates a year-on-year decrease of 50% to 45% [1] Operational Factors - The decline in performance is attributed to factors such as base maintenance and falling product prices [1] - The successful commissioning of the second phase of the Jiujiang base project is expected to support the company's project construction over the next three years and provide a foundation for future performance recovery and long-term high-quality development [1]

Core Insights - The company expects net profit to be between RMB 9.6 billion and RMB 10.6 billion, representing a year-on-year decline of 48% to 53% [1] - The company plans to conduct maintenance on its three core production bases in Q3 2025, which is expected to reduce product output by approximately 26.9 thousand tons, a decrease of about 19% year-on-year [1] - The maintenance is projected to impact the company's total profit by approximately RMB 226 million, affecting overall performance indicators for the first three quarters [1] Financial Performance - The net profit attributable to the parent company is forecasted to be between RMB 7.6 billion and RMB 8.4 billion, reflecting a decline of 45% to 50% year-on-year [1] - The adjusted net profit attributable to the parent company is expected to be between RMB 7.6 billion and RMB 8.4 billion, indicating a decrease of 13% to 22% [1] Market Conditions - As of October 10, the company's stock price decreased by 1.92%, closing at HKD 7.66 per share, with a total market capitalization of HKD 98.22 billion [3] - The company reported that prices for core products such as urea, liquid ammonia, and melamine have been affected by supply-demand mismatches and weakened cost support, putting pressure on performance indicators for the first three quarters [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA XLX FERTILISER LTD. 中國心連心化肥有限公司 * （ 在 新 加 坡 註 冊 成 立 之 有 限 公 司 ） （香港股份代號：1866） 截至二零二五年九月三十日止九個月 業績預減公告 本公告乃中國心連心化肥有限公司（「本公司」，與本公司附屬公司合稱「本集團」）依據香 港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條及香港法例第571章證 券及期貨條例第XIVA部之內幕消息條文（定義見上市規則）的規定而發佈。 二零二五年第三季度，本集團結合各在建項目進度與產品市場趨勢，統籌安排了三大生 產基地的計劃檢修。本次檢修工作，一方面圍繞九江二期項目和新鄉基地化工新材料項 目的投產節點，對九江、新鄉基地實施了系統性檢修，以確保新舊設備高效適配；此 外，考慮到新疆基地聚甲醛生產線自二零二四年十一月投產以來已持續運行近一年，為 進一步釋放生產效能，同步對該基地聚 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: China XLX Fertiliser Ltd. 中國心連心化肥有限公司（於新加坡註冊成立之有限公司） 呈交日期: 2025年10月9日 I. 法定/註冊股本變動 不適用 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01866 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,282,235,000 | | 1,006,000 | | 1,283,241,000 | | 增加 / 減少 (-) | | | | | | | | | ...

Core Points - Pioneer Top Holdings Limited increased its stake in China Heart Heart Fertilizer (01866.HK) by acquiring 428,000 shares at an average price of HKD 7.19 per share, totaling approximately HKD 3.08 million [1] - Following this acquisition, Pioneer Top Holdings Limited's total shareholding rose to 435,741,999 shares, with its ownership percentage increasing from 33.92% to 33.96% [1]

Group 1 - The core point of the article is that Pioneer Top Holdings Limited has increased its stake in China Heartland Fertilizer (01866.HK) by purchasing 428,000 shares at an average price of HKD 7.19 per share, resulting in a total investment of approximately HKD 3.0773 million [1] - After the purchase, Pioneer Top Holdings Limited's total shareholding increased to 435,741,999 shares, raising its ownership percentage from 33.92% to 33.96% [1][3] - The transaction took place on September 26, 2025, and the disclosure was made on October 2, 2025 [2][3]