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） （股份代號：297） 董事名單與其角色和職能 中化化肥控股有限公司董事會（「董事會」）成員載列如下。 非執行董事 蘇賦先生（主席） 張光艷女士 執行董事 高明東先生 盧欣先生 孫寶源先生 董事會設立五個委員會。下表提供各董事會成員在該等委員會中所擔任的職位。 | | 委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | 企業管治 委員會 | 戰略委員會 | | --- | --- | --- | --- | --- | --- | --- | | 董事 | | | | | | | | 蘇賦 | | | | | | C | | 張光艷 | | M | | | | | | 王鐵林 | | | | | C | M | | 陳勝男 | | | | | M | M | | 王凌 | | | | M | M | M | | 高明東 | | M | M | C | | | | 盧欣 | | M | C | M | | M | | 孫寶源 | | C | M | M | | | 附註： C 有關委員會的主席 M 有 ...

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 ) (股份代號：297) 公告 中化化肥控股有限公司（「本公司」）董事會（「董事會」）宣佈，張光艷女士（「張女士」） 已獲委任為本公司非執行董事，並將同時擔任董事會審核委員會成員，自二零二五年八月二 十五日起生效。 張女士的簡歷如下： 張光艷女士，五十一歲，一九九六年七月畢業於對外經濟貿易大學國際貿易專業，獲經濟學 學士學位，並於二零一四年六月獲得對外經濟貿易大學企業管理專業管理學碩士學位。張女 士於一九九六年七月加入中化集團，曾任中國化工進出口總公司風險管理部總經理助理、中 國中化股份有限公司紀檢監察室主任助理兼一部經理、紀檢監察部（巡視辦）一室主任及紀 律檢查專員，以及本公司最終控股股東中國中化控股有限責任公司（「中國中化」）黨組巡 視辦巡視專員及副組長等。於二零零三年九月至二零一一年六月期間， ...

格隆汇8月12日丨中化化肥(00297.HK)宣布，公司将于2025年8月25日(星期一)举行董事会会议，藉以(其 中包括)讨论并批准公司及其附属公司截至2025年6月30日止六个月的未经审核中期业绩及其发布，以及 考虑派发中期股息(如有)。 ...

( 於百慕達註冊成立之有限公司 ) 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 代表董事會 中化化肥控股有限公司 主席 蘇賦 香港，二零二五年八月十二日 於本公告日期，本公司非執行董事為蘇賦先生（主席）；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。 1 (股份代號：297) 公告 董事會召開日期 中化化肥控股有限公司（「本公司」）董事會（「董事會」）宣佈，本公司將於二零 二五年八月二十五日（星期一）舉行董事會會議，藉以（其中包括）討論並批准本公 司及其附屬公司截至二零二五年六月三十日止六個月的未經審核中期業績及其發佈， 以及考慮派發中期股息（如有）。 ...

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7月31日 狀態: 新提交 致：香港交易及結算所有限公司 | 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 | | 2. 股份分類 | 優先股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | ...

Core Viewpoint - A coalition of seven major potassium fertilizer distribution companies in China has issued an initiative to increase potassium fertilizer supply and reduce prices, aiming to bring fertilizer prices back to reasonable levels [1] Group 1: Industry Supply and Demand - The coalition includes China Agricultural Production Materials Group Co., Ltd., Sinochem Fertilizer Co., Ltd., China Chemical Construction Corporation, Huakan International Trade Co., Ltd., Zhejiang Agricultural Group Co., Ltd., Guangdong Tianhe Agricultural Materials Co., Ltd., and Heilongjiang Supply and Marketing Beifeng Agricultural Social Service Co., Ltd. [1] - The companies emphasize the need to correctly assess the current potassium fertilizer supply and demand situation, resist malicious speculation, and maintain market order [1] Group 2: Market Conditions - A meeting held on July 15 concluded that the domestic potassium fertilizer market supply is relatively sufficient during the non-agricultural demand peak season, and future imports of potassium fertilizer are expected to increase significantly [1] - The recent rise in potassium fertilizer prices is attributed to speculative activities, which have deviated significantly from the fundamental supply and demand dynamics [1]

截至7月14日收盘，中化化肥（00297.HK）报1.410港元，较上个交易日上涨2.92%，当日盘中最高价触 及1.420港元，创近一年新高。 资金流向方面，当日主力流入NaN万港元，流出NaN万港元，净流入1561.44万港元。 中化化肥控股有限公司(简称"中化化肥",前身为"中化香港控股有限公司")涵盖资源、研发、生产、分 销、农化服务全产业链。本公司于2005年7月成功收购ChinaFertilizer(Holdings)CompanyLimited及其附属 公司("化肥集团")后在香港联合交易所挂牌上市(股票代码:00297),是中国化肥行业首家在香港上市的企 业。中化化肥在国际化肥市场上具有重要影响力,是国际肥料工业协会(IFA)会员单位、国际植物营养研 究所(IPNI)全球17家理事单位之一。中化化肥拥有逾60年的化肥国际贸易经验和国际贸易关系网络实力, 是中国进口化肥的主渠道,为保障国内紧缺化肥资源供应、调剂余缺发挥骨干和建设性作用。中化化肥 拥有最齐全的大量元素、中微量元素肥料以及专用肥、缓控释肥、生物肥等新型肥料的研发、生产能 力。中化化肥在中国主要的农业省、农业县拥有自己建设的、国内最大 ...

Financial Performance - The company's revenue for 2024 was RMB 21,264,854, a decrease of 2.14% from RMB 21,728,120 in 2023[16] - Gross profit increased to RMB 2,543,838, up 12.54% from RMB 2,259,547 in the previous year[16] - Profit attributable to shareholders rose to RMB 1,061,480, representing a significant increase of 69.91% compared to RMB 625,549 in 2023[16] - Basic earnings per share improved to RMB 0.1511, up from RMB 0.0891 in the prior year[16] - Return on equity increased to 10.55%, compared to 6.52% in 2023, indicating enhanced profitability[16] - The company achieved a revenue of RMB 21.265 billion for the year ending December 31, 2024, with a net profit attributable to shareholders of RMB 1.061 billion, representing a year-on-year growth of 69.49%[58] - Excluding impairment losses related to Yangmei Plain Chemical Co., the adjusted net profit attributable to shareholders for the year was RMB 1.229 billion, a growth of 6.96% compared to RMB 1.149 billion for the previous year[59] - The segment profit for the fiscal year ending December 31, 2024, was RMB 1.38 billion, down from RMB 1.42 billion in the previous year, a decrease of about 3.06%[90][93] - The basic business segment reported a profit of RMB 645 million, a decrease of 4.9% compared to the previous year[90] - The growth business segment achieved a profit of RMB 347 million, a significant increase of 45.11% year-over-year, driven by a 10% increase in compound fertilizer sales and a 59% increase in high-end differentiated compound fertilizer sales[90] - The production business segment's profit was RMB 387 million, a decrease of 23% year-over-year, impacted by a significant drop in synthetic ammonia prices[90] - The net profit margin for the fiscal year ending December 31, 2024, was 4.99%, an increase of 2.11 percentage points compared to the previous year[94] Sales and Market Performance - In 2024, the company achieved a sales volume of 7.21 million tons and a revenue of RMB 21.265 billion, with a net profit of RMB 1.075 billion, representing a year-on-year growth of 57%[20] - The company's shareholder profit reached RMB 1.061 billion, marking a year-on-year increase of 69.49%[20] - The company launched 6 new or upgraded products, including "Huanfeng" and "Weidefeng," achieving a total research output of 1.285 million tons, with sales of Class A products like Lanlin and Kede Feng increasing by 55% year-on-year[60] - The company achieved a 12% year-on-year increase in phosphate fertilizer sales, with differentiated biological phosphate fertilizer sales reaching 250,000 tons, a 14% increase year-on-year[63] - The differentiated compound fertilizer sales for 2024 are projected to be 1.5 million tons, an increase of 160,000 tons year-on-year, with high-end biological products seeing a 59% year-on-year sales growth[64] - The total sales of specialty fertilizers exceeded 110,000 tons in 2024, a year-on-year increase of 20%, with soil health products achieving sales of 30,000 tons, up 11% year-on-year[65] - The company reported a revenue of RMB 410 million from collaborative plant protection in 2024, a 5% increase year-on-year, with a three-year compound growth rate of 17%[66] Research and Development - The company is committed to continuous research and development in crop nutrition products and related technologies[12] - The company launched the "Bio+" technology brand and achieved a research output conversion of 1.285 million tons, with Class A product sales increasing by 55% year-on-year[22] - The company’s research and development efforts are focused on the "Biological +" strategy, with 27 patents granted in key biotechnology areas, enhancing its technological foundation[60] - The company’s innovative "Root-Phosphorus Efficient Coupling Technology" was recognized as a major new agricultural technology in China for 2024, marking a significant achievement in its R&D efforts[47] - The company aims to enhance its integrated R&D capabilities in "nutrient efficiency, biological agents, and soil health" under its "Biological +" strategy[78] Strategic Initiatives - The company aims to lead in bio-fertilizer and soil health innovation, focusing on sustainable agricultural practices[11] - The company has established a comprehensive sales service network covering 95% of arable land in China[12] - Strategic partnerships with international suppliers have been formed to enhance product offerings and market reach[12] - The company signed a strategic cooperation memorandum with the American company for sustainable agricultural development and technology innovation[35] - The company aims to enhance operational management and provide green and efficient crop nutrition products while ensuring stable cash flow for investment decisions[23] - The company plans to celebrate its 20th anniversary in 2025 with a focus on the "Bio+" strategy and sustainable development[23] Environmental and Social Responsibility - The company maintained a 100% utilization rate of phosphogypsum for two consecutive years and received multiple awards for its environmental projects[22] - The company is committed to ensuring food security and supporting farmers' income growth as part of its social responsibility initiatives[78] - The company received the "Leading Environmental Project" award for its "Sinochem Changshan Low Carbon Environmental Comprehensive Management Project" at the 2024 ESG Leading Enterprises event[47] Governance and Management - The company has a strong governance structure with independent non-executive directors overseeing various committees, ensuring compliance and strategic direction[145][146][147] - The company emphasizes its commitment to corporate governance and strategic planning through the establishment of various committees[145][146] - The board of directors consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[158] - The company has adopted the corporate governance code as per the listing rules, ensuring compliance and transparency in its operations[155] - The company has experienced a change in board composition, with Mr. Liu Hongsheng resigning as non-executive director and chairman, and Mr. Su Fu appointed as his successor[159] - The company has implemented a mechanism to ensure that the opinions and suggestions of independent non-executive directors are communicated to management for follow-up[164] Employee Development - The group employs approximately 4,371 full-time employees, with compensation structured to align employee interests with company performance and shareholder value[135] - A total of 21,565 training sessions were conducted, amounting to approximately 158,092 hours of training, covering various topics to enhance management skills and overall employee quality[190] - The group emphasizes employee development, with significant training initiatives aimed at improving core competitiveness[190] Financial Management and Risks - The company faces significant financial risks, including market risk, credit risk, and liquidity risk[127] - Market risk encompasses currency risk, interest rate risk, and other price risks, with management employing forward foreign exchange contracts to mitigate potential adverse impacts on financial performance[128] - The group has implemented robust management procedures for credit limits, payment terms, and overdue collections to prevent and control credit risk[130] - Liquidity risk management includes strengthening daily cash position management and maintaining sufficient cash and cash equivalents to meet operational and debt obligations[131]

Financial Performance - The group's revenue for the year was RMB 21.265 billion, a decrease of 2.13% compared to RMB 21.728 billion in 2023[4]. - The profit attributable to shareholders increased to RMB 1.061 billion, representing a year-on-year growth of 69.49% from RMB 0.626 billion in 2023[4]. - Basic earnings per share rose to RMB 0.1511, up 69.49% from RMB 0.0891 in 2023[4]. - The group achieved a total sales volume of 7.21 million tons for the year, with a net profit of RMB 1.075 billion, reflecting a 57% year-on-year increase[5]. - The group achieved a revenue of RMB 21.265 billion for the year ending December 31, 2024, with a net profit attributable to shareholders of RMB 1.061 billion, representing a year-on-year growth of 69.49%[13]. - Excluding impairment losses, the net profit attributable to shareholders for the year ending December 31, 2024, would be RMB 1.229 billion, a 6.96% increase compared to RMB 1.149 billion for the year ending December 31, 2023[13]. - The group reported a total segment profit of RMB 1,379,107 thousand for 2024, a decrease from RMB 1,423,247 thousand in 2023, representing a decline of 3.10%[131]. - The total profit before tax for 2024 was RMB 1,224,010 thousand, compared to RMB 846,235 thousand in 2023, indicating a significant increase of 44.66%[131]. - The company reported a net profit attributable to shareholders of RMB 1,061,480 thousand for 2024, up from RMB 625,549 thousand in 2023, indicating a growth of 69.8%[145]. Sales and Product Development - The company developed 6 new or upgraded products, including "Huanfeng" and "Weidefeng," achieving a total research output of 1.285 million tons in 2024, with sales of Class A products like Lanlin and Kede Feng increasing by 55% year-on-year[14]. - The company’s phosphate fertilizer sales increased by 12% year-on-year, with differentiated biological phosphate fertilizer sales reaching 250,000 tons, a 14% increase[18]. - The company’s differentiated compound fertilizer sales reached 1.5 million tons in 2024, an increase of 16,000 tons year-on-year, with high-end biological products sales growing by 59%[20]. - The company launched the biological potassium fertilizer "Weidefeng," achieving sales of 20,000 tons in the current year[17]. - The group reported a total sales volume of differentiated products of 1.86 million tons, an increase of 12.12% year-on-year[46]. - The sales volume of differentiated compound fertilizers was 1.5 million tons, reflecting an increase of 11.45% year-on-year[46]. Research and Development - The company aims to enhance its "Bio+" strategy, focusing on technological innovation and product layout for 2025[9]. - The company plans to enhance its integrated R&D capabilities in "nutrient efficiency, biological agents, and soil health" to drive innovation in the agricultural sector[41]. - The company received 2 awards for technological progress and 3 for patents in 2024, highlighting its commitment to innovation in the agricultural sector[14]. Operational Efficiency - The production capacity utilization rate of the core phosphoric acid facility at Zhonghua Fuling reached 102%, with a cumulative comprehensive capacity utilization rate of 94%[27]. - The overall capacity utilization rate of the compound fertilizer facility increased from 46% in 2023 to 59% in 2024, with the differentiated product proportion rising from 6.8% to 65.7%[27]. - The company completed 31 energy-saving projects, achieving cumulative cost reduction benefits exceeding RMB 100 million by the end of 2024[28]. - The company’s strategic procurement rate for phosphate fertilizer reached 92% in 2024, successfully completing the task of ensuring supply and stabilizing prices[18]. Market Environment and Challenges - The overall economic environment in 2024 was challenging, with a GDP growth of 5% in China, contributing to global economic stability[10]. - The company faces operational risks including geopolitical conflicts affecting international trade, slow global economic recovery, and increased competition, prompting proactive measures to enhance supply chain management and customer engagement[93]. - The group faced challenges from geopolitical conflicts affecting global supply chains and natural disasters impacting domestic operations[56]. Sustainability and Corporate Responsibility - The company maintained a commitment to green and sustainable development, achieving zero safety incidents and environmental events in its operations[8]. - The group launched the "Thick Soil Health" service platform, aiming to address soil issues and promote sustainable agricultural development[37]. - The company has received recognition for its contributions to soil restoration and ecological protection, winning the "Special Award" at the 2024 EY Annual Best Sustainability Award for listed companies[38]. - The group has identified and managed environmental risks, strictly adhering to various environmental protection laws, with no major environmental pollution incidents reported in 2024[95]. Financial Position and Management - The total assets decreased to RMB 21,417,216 from RMB 22,982,901, a decline of 6.83%[116]. - The current ratio as of December 31, 2024, was 1.29, and the debt-to-equity ratio was 17.59%, indicating strong solvency[82]. - The total interest-bearing liabilities rose to RMB 1.870 billion, an increase of 2.24% from RMB 1.829 billion, mainly due to new bank financing and lease liabilities[76]. - The group’s inventory balance as of December 31, 2024, was RMB 5.225 billion, a decrease of RMB 459 million or 8.08% from RMB 5.684 billion the previous year, with inventory turnover days reduced by 3 days to 107 days[64]. - Trade payables decreased to RMB 3.287 billion, down 12.86% from RMB 3.772 billion, attributed to improved operational efficiency and enhanced procurement coordination[77]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and risk management standards[157]. - The group's auditor, KPMG, confirmed that the financial data disclosed aligns with the consolidated financial statements for the year ending December 31, 2024[158]. - The company is committed to maintaining high corporate governance standards to enhance transparency and accountability to shareholders[162].

Financial Performance - The company achieved a net profit of RMB 1.073 billion in the first half of 2024, remaining flat year-on-year, with profit attributable to shareholders increasing by 4.68% to RMB 1.051 billion[8] - Revenue for the first half of 2024 reached RMB 13.681 billion, with a net profit attributable to shareholders of RMB 1.051 billion, a year-on-year increase of 4.68%[19] - Revenue for the six months ended June 30, 2024, reached RMB 13,680,872 thousand, a 4.2% increase compared to RMB 13,127,927 thousand in the same period of 2023[80] - Gross profit for the first half of 2024 was RMB 1,662,576 thousand, up 7.2% from RMB 1,550,255 thousand in the first half of 2023[80] - Operating profit for the six months ended June 30, 2024, was RMB 1,117,712 thousand, a 2.5% increase from RMB 1,090,885 thousand in the same period of 2023[80] - Net profit attributable to shareholders for the first half of 2024 was RMB 1,050,926 thousand, a 4.7% increase compared to RMB 1,003,919 thousand in the first half of 2023[80] - Basic and diluted earnings per share for the six months ended June 30, 2024, were RMB 0.1496, up 4.7% from RMB 0.1429 in the same period of 2023[81] - The company's comprehensive income for the six months ended June 30, 2024, was RMB 996,584 thousand, a 7.2% decrease compared to RMB 1,073,659 thousand in the same period of 2023[81] - Total revenue for the six months ended June 30, 2024, was RMB 13,680,872 thousand, compared to RMB 13,127,927 thousand for the same period in 2023, representing a 4.2% increase[93][94] - Segment profit for the six months ended June 30, 2024, was RMB 1,223,944 thousand, up 1.6% from RMB 1,205,195 thousand in the same period in 2023[93][94] - Profit before tax for the six months ended June 30, 2024, was RMB 1,238,609 thousand, a 7.2% increase from RMB 1,155,414 thousand in the same period in 2023[93][94] - The company's income tax expense for the six months ended June 30, 2024, was RMB 166,017 thousand, a 97.6% increase from RMB 83,995 thousand in the same period in 2023[100] - Basic earnings per share for the six months ended June 30, 2024, were RMB 1,050,926 thousand, a 4.7% increase from RMB 1,003,919 thousand in the same period in 2023[102] Business Segments and Product Performance - The growth business segment generated revenue of RMB 5.555 billion, a 5% year-on-year increase, with pre-tax profit reaching RMB 398 million, up 27% year-on-year[8] - The production segment achieved a pre-tax profit of RMB 357 million in the first half of 2024, remaining flat year-on-year[8] - The company's basic business achieved revenue of RMB 6.878 billion in the first half of the year, an increase of RMB 410 million year-on-year, with a pre-tax profit of RMB 469 million, down 12% due to price declines[9] - Sales of bio-phosphate fertilizers increased by 10% year-on-year, driving growth in the basic business[9] - The company launched its first bio-integrated potassium fertilizer product, "Weidefeng," nationwide, enhancing potassium fertilizer efficiency[15] - The company's subsidiary, Sinochem Fuling, successfully produced qualified bio-phosphate fertilizer products under the brand "Linbao"[12] - The company introduced the "Huanfeng®" brand, a full-nutrient crop-specific fertilizer, integrating multiple advanced technologies developed by Syngenta Group China[13] - The company achieved a pre-tax profit of RMB 81.6694 million at Zhonghua Fuling, with a phosphate plant capacity utilization rate of 106.38%[20] - Zhonghua Yunlong produced 182,100 tons of feed calcium and achieved a pre-tax profit of RMB 241.28 million, an increase of RMB 4.0963 million year-on-year[21] - Zhonghua Changshan achieved a pre-tax profit of RMB 42.2 million, a decrease of RMB 21.37 million year-on-year due to low market prices for synthetic ammonia and urea[21] - The company successfully produced differentiated phosphate fertilizer products "Linbao" and "Meilinmei"[21] - The company's R&D achievements were transformed into 886,000 tons of products in the first half of 2024[19] - The company's differentiated compound fertilizer sales reached 1.1 million tons, a year-on-year increase of 14.62%[25] - The "Bio+" high-end product sales increased by 65% year-on-year[25] - The special fertilizer business achieved revenue of RMB 444 million, a year-on-year increase of 23.28%[26] - The total production capacity of the special fertilizer business reached 185,000 tons[26] - The sales of key "Double Excellence" products in the special fertilizer business increased by 50% year-on-year[26] - The company achieved plant protection synergy revenue of RMB 240 million, with a three-year compound growth rate of 21%[27] - The seed synergy revenue reached RMB 33.96 million, with nearly 60 synergistic varieties sold across crops such as rice, corn, vegetables, and wheat[27] - Sales volume for the first half of 2024 reached 4.66 million tons, a 17.38% increase compared to the same period in 2023[34] - Revenue for the first half of 2024 was RMB 13.681 billion, a 4.21% increase year-over-year[34] - Gross profit for the first half of 2024 was RMB 1.663 billion, up 7.29% compared to the same period in 2023[34] - Net profit attributable to shareholders for the first half of 2024 was RMB 1.051 billion, a 4.68% increase year-over-year[34] - The company's differentiated product sales reached 1.32 million tons in the first half of 2024, a 14.56% increase year-over-year[35] - Sales of differentiated compound fertilizers reached 1.1 million tons in the first half of 2024, a 14.62% increase compared to the same period in 2023[35] - Revenue from compound fertilizers increased to RMB 4,691,743 thousand in the six months ended June 30, 2024, from RMB 4,528,876 thousand in the same period of 2023[91] - Revenue from phosphate fertilizers rose to RMB 4,175,840 thousand in the six months ended June 30, 2024, from RMB 3,475,313 thousand in the same period of 2023[91] - Revenue from potash fertilizers decreased to RMB 2,507,905 thousand in the six months ended June 30, 2024, from RMB 2,872,389 thousand in the same period of 2023[91] - Revenue from special fertilizers increased to RMB 443,668 thousand in the six months ended June 30, 2024, from RMB 359,881 thousand in the same period of 2023[91] - Total revenue from customer contracts was RMB 13,680,872 thousand in the six months ended June 30, 2024, compared to RMB 13,127,927 thousand in the same period of 2023[91] - Revenue from Mainland China accounted for RMB 13,114,553 thousand in the six months ended June 30, 2024, up from RMB 12,611,224 thousand in the same period of 2023[91] R&D and Innovation - The company launched a new "Bio+" product, the "Huanfeng®" brand, integrating advanced technologies from Syngenta Group China[8] - The company completed the trial production and sales of 4 key products under the "Bio+" strategy, including "Bio+" organic-inorganic fertilizer - Huanfeng and "Bio+" carbohydrate-soluble fertilizer - Shuidifeng[9] - The company obtained 48 authorized invention patents, with 23 in the field of biotechnology, supporting the "Bio+" strategy[9] - R&D achievements were converted into 886,000 tons of products, a year-on-year increase of 17.2%[9] - The company launched the "Weidefeng" series of potassium sulfate products to enhance terminal agricultural technical services[23] - The company plans to focus on the "Bio+" strategy, aiming to enhance R&D capabilities and increase investment in new bio-fertilizer technologies[33] Operational Efficiency and Management - The company implemented 24 actions across subsidiaries to enhance production management and operational efficiency[8] - The company's production capacity utilization rate remained at a relatively high level within the industry[8] - The company focused on optimizing its product structure, driving high growth in key products such as "Blue Scale" and "Kedefeng"[8] - The company conducted benchmarking studies with leading companies to strengthen production management practices[8] - The company maintained strict safety production and internal control management, ensuring stable operations[8] - The company utilized 686,000 tons of phosphogypsum, achieving a comprehensive utilization rate of 100%[21] - The company conducted over 30,000 comprehensive technical service activities, benefiting over 1.4 million farmers[28] - The company's digital marketing activities reached over 5 million online users and covered over 300,000 farmers through offline promotion meetings[29] - The company conducted over 30,000 technical service activities and established more than 1,500 demonstration fields in the first half of 2024[32] - The company provided direct benefits to over 4 million farmers through various agricultural support initiatives in the first half of 2024[32] - The company launched the "Houpu Soil Health +" service platform, which has developed 18 sets of soil health indicators and solutions[32] - The company employed approximately 4,379 full-time employees as of June 30, 2024, with compensation benchmarked against market levels[76] - The company conducted training for 4,245 employees, totaling 28,865 training hours in the first half of 2024[76] Financial Position and Liquidity - The company's cash and cash equivalents as of June 30, 2024, amounted to RMB 3.762 billion, primarily held in RMB and USD[61] - The company's total interest-bearing liabilities as of June 30, 2024, were RMB 1.810 billion, compared to RMB 1.829 billion as of December 31, 2023[62] - The company has obtained bank credit facilities equivalent to RMB 24.204 billion, including USD 759 million and RMB 18.792 billion, with unused credit facilities of RMB 21.214 billion, including USD 728 million and RMB 16.020 billion[64] - The company plans to repay its loans using internal resources[65] - The company manages liquidity risk by strengthening daily cash management, forecasting and executing capital plans, and maintaining sufficient cash and cash equivalents[72] - Total non-current assets increased to RMB 8,820,810 thousand as of June 30, 2024, compared to RMB 7,854,561 thousand as of December 31, 2023[82] - Current assets decreased to RMB 11,137,535 thousand as of June 30, 2024, from RMB 14,128,340 thousand as of December 31, 2023[82] - Inventory decreased significantly to RMB 3,418,501 thousand as of June 30, 2024, from RMB 5,683,619 thousand as of December 31, 2023[82] - Trade receivables and bills increased to RMB 723,065 thousand as of June 30, 2024, from RMB 469,532 thousand as of December 31, 2023[82] - Total current liabilities decreased to RMB 8,006,169 thousand as of June 30, 2024, from RMB 10,631,821 thousand as of December 31, 2023[84] - Net current assets stood at RMB 3,131,366 thousand as of June 30, 2024, compared to RMB 3,496,519 thousand as of December 31, 2023[84] - Total equity increased to RMB 10,608,577 thousand as of June 30, 2024, from RMB 9,918,784 thousand as of December 31, 2023[84] - Profit attributable to shareholders for the period was RMB 1,050,926 thousand as of June 30, 2024[85] - Other comprehensive income for the period was a loss of RMB 76,008 thousand as of June 30, 2024[85] - Total comprehensive income for the period was RMB 974,918 thousand as of June 30, 2024[85] - Operating cash inflow for the six months ended June 30, 2024, was RMB 1,212,486 thousand, slightly lower than RMB 1,214,638 thousand in the same period of 2023[86] - Investment cash outflow for the six months ended June 30, 2024, was RMB 1,275,005 thousand, compared to RMB 984,324 thousand in the same period of 2023[86] - Cash and cash equivalents decreased by RMB 146,756 thousand in the six months ended June 30, 2024, compared to an increase of RMB 234,363 thousand in the same period of 2023[87] - The company's financing costs for the six months ended June 30, 2024, were RMB 31,419 thousand, a 13.6% decrease from RMB 36,365 thousand in the same period in 2023[96] - Depreciation expenses for the six months ended June 30, 2024, were RMB 169,263 thousand for owned property, plant, and equipment, and RMB 15,414 thousand for right-of-use assets[97] - The company acquired property, plant, and equipment with an original value of RMB 243,692 thousand during the six months ended June 30, 2024, a 37.7% decrease from RMB 391,296 thousand in the same period in 2023[103] - No impairment loss was recognized for the six months ended June 30, 2024 (same period in 2023: none)[104] - Goodwill as of June 30, 2024, was RMB 856,454 thousand, compared to RMB 854,137 thousand as of December 31, 2023[105] - Trade receivables and notes, net of impairment allowance, totaled RMB 723,065 thousand as of June 30, 2024, up from RMB 469,532 thousand as of December 31, 2023[107] - Trade payables and notes amounted to RMB 3,435,510 thousand as of June 30, 2024, down from RMB 3,771,752 thousand as of December 31, 2023[109] - Bank and other borrowings totaled RMB 1,741,974 thousand as of June 30, 2024, compared to RMB 1,788,858 thousand as of December 31, 2023[112] - The effective annual interest rate for variable-rate borrowings was 3.00% as of June 30, 2024, down from 3.35% as of December 31, 2023[115] - The company did not declare an interim dividend for the six months ended June 30, 2024 (same period in 2023: none)[116] - The dividend per share for the previous financial year was HKD 0.0491 (same period in 2023: HKD 0.0623)[117] - The fair value of non-listed securities as of June 30, 2024, was RMB 46,142 thousand, classified under Level 3 of the fair value hierarchy[119] - The fair value of accounts receivable (notes) as of June 30, 2024, was RMB 43,968 thousand, also classified under Level 3 of the fair value hierarchy[119] - The fair value of forward foreign exchange contracts under Level 2 was RMB (21,810) thousand as of June 30, 2024[119] - The total fair value of financial instruments classified under Level 3 as of June 30, 2024, was RMB 90,110 thousand[119] - The fair value of non-listed securities decreased by RMB 118,211 thousand during the six months ended June 30, 2024[124] - The fair value of accounts receivable (notes) decreased by RMB 25,154 thousand during the six months ended June 30, 2024[124] - The company's capital commitments for property, plant, and equipment as of June 30, 2024, amounted to RMB 41,506 thousand[126] - The fair value of non-listed securities as of December 31, 2023, was RMB 164,353 thousand, classified under Level 3[120] - The fair value of accounts receivable (notes) as of December 31, 2023, was RMB 69,122 thousand, classified under Level 3[120] - The total fair value of financial instruments classified under Level 3 as of December 31, 2023, was RMB 233,475 thousand[120] - The company repaid a loan of RMB 11.46 million to a subsidiary of its ultimate holding company in 2024[132] - The company provided financial guarantees to an associate amounting to RMB 478.70 million in 2023[132] - The company loaned RMB 167.67 million to an associate in 2024 with an annual interest rate based on the one-year loan market quotation rate[135] - The company's cash and cash equivalents stood at RMB 732.89 million as of June 30, 2023[134] Market and Industry Trends - The company's fertilizer product prices showed a "V" trend, with prices recovering in April and exceeding the previous year's levels by June[8] - Fertilizer imports increased by 20.0% to 7.27 million tons, while exports decreased by 4