Financial Performance - For Q1 2022, China XLX Fertiliser Ltd. reported unaudited consolidated revenue of approximately RMB 5.39 billion, an increase of RMB 2.23 billion or 71% compared to Q1 2021's revenue of approximately RMB 3.15 billion[1]. - The company's unaudited net profit for Q1 2022 was approximately RMB 520 million, up RMB 243 million or 88% from approximately RMB 277 million in Q1 2021[1]. Urea Sales - Urea sales revenue increased by approximately RMB 723 million or 84% to about RMB 1.58 billion in Q1 2022, driven by a 34% rise in average selling price and a 37% increase in sales volume[2]. - The sales volume of urea in Q1 2022 was approximately 646,000 tons, while the gross margin decreased by 7 percentage points to about 29.9% due to a 49% increase in average production costs[2]. Compound Fertilizer Sales - Compound fertilizer sales revenue rose by approximately RMB 654 million or 79% to about RMB 1.48 billion, with sales volume increasing to 504,000 tons[4]. - The gross margin for compound fertilizers improved by 3 percentage points to 18.5% in Q1 2022, attributed to higher average selling prices[4]. Methanol Sales - Methanol sales revenue increased by approximately RMB 219 million or 82% to about RMB 487 million, with sales volume growth supported by new capacity from the Jiujiang base[5]. - The gross margin for methanol significantly decreased by 17 percentage points to approximately 3.7% due to a 56% rise in average production costs[5]. Future Outlook and Projects - The company anticipates continued high fertilizer prices due to global energy and food price increases, alongside a focus on optimizing product structure and enhancing R&D for new fertilizer products[10]. - The company plans to commence trial production of a 100,000-ton DMF project at its Jiangxi base by the end of June 2022 and expects the first phase of the Gansu Jinchang compound fertilizer project to be completed by the end of 2022[11].
中国心连心化肥(01866) - 2022 Q1 - 季度财报