Investment Rating - The report assigns a "Buy" rating to Sinofert Holdings, with a target price of HKD 1.84 based on a PE of 8.5x for FY26 [3][13]. Core Insights - In the first three quarters of 2025, Sinofert Holdings achieved a net profit of approximately CNY 1.364 billion, reflecting a year-on-year increase of 6% despite challenges such as high raw material costs and declining synthetic ammonia market prices [1][15]. - The company is actively promoting its "Bio+" strategy, which focuses on the development and innovation of biological products, resulting in significant sales growth of high-end biological fertilizers [2][12]. - A memorandum of cooperation was renewed with the Jordanian Arab Potash Company (APC) for the period 2026-2028, enhancing the strategic partnership and ensuring stable supply of potash fertilizers in China [1][15]. Financial Performance and Forecast - The projected net profits for Sinofert Holdings from 2025 to 2027 are CNY 1.263 billion, CNY 1.384 billion, and CNY 1.547 billion, respectively, indicating a positive growth trajectory [3][4]. - The company's operating revenue is expected to grow from CNY 212.65 billion in 2024 to CNY 267.23 billion by 2027, with a compound annual growth rate of approximately 9% [4][9]. - The earnings per share (EPS) is forecasted to increase from CNY 0.15 in 2024 to CNY 0.22 in 2027, reflecting the company's improving profitability [4][9].

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10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中化化肥控股有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 | 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) | 00297 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 80,000,000,000 | HKD | | 0.1 | HKD | | 8,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 80,000,000,000 | HKD | | 0.1 | HKD | | 8,000,000,000 | | ...

Core Viewpoint - The company, a leading player in China's fertilizer industry, reported a revenue of approximately RMB 19.37 billion for Q1-Q3 2025, reflecting a year-on-year increase of 6.4%, and a net profit of about RMB 1.36 billion, also up by 6.0% [1] Group 1: Financial Performance - For Q3 2025, the company achieved a revenue of approximately RMB 4.66 billion, representing a year-on-year growth of 2.8%, while net profit reached RMB 260 million, marking a 10.2% increase year-on-year [1] - The company has maintained strong cash flow and steadily increasing dividend payout ratios in recent years, indicating a commitment to shareholder returns [1] Group 2: Industry Position and Strategy - The company has over 60 years of experience in international fertilizer trade and possesses a robust distribution network covering 95% of China's arable land [1] - The company is advancing its "Bio+" strategy, focusing on high-end biological fertilizers, which have shown good performance in quality improvement and growth promotion, supporting revenue growth [2] - The company is expanding its phosphate production capacity, with a resource volume of 200 million tons and an annual capacity of 600,000 tons, which is expected to contribute to future revenue growth [2] Group 3: Brand and Market Vision - The company launched a brand repositioning initiative aimed at becoming a "Crop Nutrition Health Leader," with a vision to create a fertile land in partnership with farmers [3] - The brand's mission emphasizes sustainable agriculture and technological empowerment, reflecting the company's commitment to addressing deep-seated industry challenges [3] - The company is expected to maintain a stable profit from its core business and continue to benefit from its "Bio+" strategy, with projected net profits for 2025-2027 of RMB 1.46 billion, 1.55 billion, and 1.63 billion respectively [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [9] Core Views - The company reported a revenue of approximately RMB 19.37 billion for Q1 to Q3 of 2025, representing a year-on-year increase of 6.4%, and a net profit of approximately RMB 1.36 billion, also up by 6.0%. For Q3 2025, the revenue was about RMB 4.66 billion, with a year-on-year growth of 2.8%, and a net profit of approximately RMB 260 million, reflecting a 10.2% increase year-on-year [2][6] - The company is a leading player in China's fertilizer industry, with over 60 years of international trade experience and a distribution network covering 95% of China's arable land. The company emphasizes shareholder returns, with strong operating cash flow and a steadily increasing dividend payout ratio [9] - The company's full industry chain layout enhances its performance resilience, benefiting from phosphorous fertilizer export trade despite a general slowdown in the compound fertilizer industry due to increased rainfall and high sulfur prices [9] - The company is advancing its "Bio+" strategy, focusing on high-end biological compound fertilizers, supported by its major shareholder Syngenta and a national-level R&D platform. This strategy has led to the successful development of several biological fertilizer products, contributing to revenue growth [9] - The company is steadily expanding its phosphate mining capacity, with a resource volume of 200 million tons and an annual production capacity of 600,000 tons. Key projects are underway to enhance production capabilities [9] - The company has rebranded itself as a leader in crop nutrition and health, aiming to redefine its brand positioning and development path while addressing deep-seated industry issues [9] - The company is expected to maintain strong asset quality, profitability, and cash flow, with projected net profits for 2025-2027 of RMB 1.46 billion, 1.55 billion, and 1.63 billion respectively, supporting the "Buy" rating [9]

Group 1 - Zhonghua Fertilizer (00297.HK) experienced a significant increase of over 6%, specifically rising by 6.04% to reach a price of 1.58 HKD [1] - The trading volume for Zhonghua Fertilizer amounted to 26.7267 million HKD at the time of reporting [1]

Core Viewpoint - Sinochem Fertilizer (00297) experienced a stock price increase of over 6%, closing at HKD 1.58 with a trading volume of HKD 26.73 million, following the release of its operational data for the nine months ending September 30, 2025 [1] Financial Performance - The company reported a revenue of approximately RMB 19.373 billion for the nine-month period [1] - Net profit for the same period was around RMB 1.364 billion, reflecting an increase of about 6% compared to the nine months ending September 30, 2024 [1] Strategic Initiatives - In response to high raw material costs and declining market prices for synthetic ammonia, the company is committed to advancing its "Bio+" strategy [1] - The company has focused on enhancing its research, production, and sales across all segments, with high-end "Bio+" products showing positive performance in quality improvement, stress resistance, and growth promotion [1] - These strategic efforts have contributed to maintaining stable operational performance for the first three quarters of 2025 [1]

Core Viewpoint - Sinochem Fertilizer (00297) experienced a stock price increase of over 6%, reaching HKD 1.58 with a trading volume of HKD 26.73 million, following the release of its operational data for the nine months ending September 30, 2025 [1] Group 1: Financial Performance - For the nine months ending September 30, 2025, the company's revenue was approximately RMB 19.373 billion, and net profit was around RMB 1.364 billion [1] - The net profit for this period increased by approximately 6% compared to the same period ending September 30, 2024 [1] Group 2: Strategic Initiatives - The company is actively pursuing its "Bio+" strategy in response to high raw material costs and declining market prices for synthetic ammonia [1] - The high-end "Bio+" products have shown good performance in quality improvement, stress resistance, and growth promotion, contributing to the stable development of the company's operational performance for the first three quarters of 2025 [1]

Core Viewpoint - Sinochem Fertilizer (00297.HK) reported a revenue of approximately RMB 19.373 billion and a net profit of approximately RMB 1.364 billion for the nine months ending September 30, 2025, indicating a net profit increase of about 6% compared to the same period in 2024 [1] Financial Performance - Revenue for the nine-month period was approximately RMB 19.373 billion [1] - Net profit for the same period was approximately RMB 1.364 billion [1] - Net profit increased by approximately 6% compared to the nine months ending September 30, 2024 [1] Strategic Initiatives - The company is advancing its "Bio+" strategy despite challenges such as high raw material costs and declining market prices for synthetic ammonia [1] - The high-end "Bio+" products have shown good performance in quality improvement, stress resistance, and growth promotion [1] - The company continues to strengthen its research, production, and sales across all segments [1]

Core Viewpoint - Sinochem Fertilizer (00297) reported a revenue of approximately RMB 19.373 billion and a net profit of around RMB 1.364 billion for the nine months ending September 30, 2025, reflecting a net profit increase of about 6% compared to the same period in 2024 [1] Financial Performance - The company's revenue for the reporting period was approximately RMB 19.373 billion [1] - The net profit for the same period was approximately RMB 1.364 billion [1] - The net profit increased by about 6% compared to the nine months ending September 30, 2024 [1] Strategic Initiatives - The company is actively pursuing its "Bio+" strategy to counteract challenges such as high raw material costs and declining market prices for synthetic ammonia [1] - The company has focused on enhancing the quality and resilience of its high-end "Bio+" products, which have shown good performance in promoting growth and improving quality [1] - The ongoing efforts in research, production, and sales across various segments have contributed to the stable development of the company's operating performance for the first three quarters of 2025 [1]

(股份代號：297) 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之內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部分 內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 SINOFERT HOLDINGS LIMITED 中化化肥控股有限公司 ( 於百慕達註冊成立之有限公司 ) 香港，二零二五年十月二十八日 於本公告日期，本公司非執行董事為蘇賦先生（主席）及張光艷女士；本公司 執行董事為王鐡林先生（首席執行官）、陳勝男女士及王凌女士；及本公司獨 立非執行董事為高明東先生、盧欣先生及孫寶源先生。 本集團於有關期間的營業額約為人民幣193.73億元，凈利潤約為人民幣13.64億 元。本集團於有關期間的凈利潤較截至二零二四年九月三十日止九個月期間增 加約6%。面對原材料成本高位運行以及合成氨市場價格持續探低等不利影響， 本集團堅定推進「生物+」戰略，研產銷各環節繼續發力，高端「生物+」類產 品在提質抗逆與促進生長等方面表現良好，帶動本集團二零二五年前三季度經 營業績保持穩健發展。 1 代表董事會 中化化肥控股有限公司 董事會主席 蘇賦 本公告乃由中化化肥 ...