Core Viewpoint - China National Chemical Corporation (中海石油化学) experienced a significant decline in its stock price, dropping over 5% in early trading due to a substantial decrease in urea sales prices and a sharp decline in annual net profit [1] Financial Performance - The company reported a revenue of 11.946 billion RMB for the fiscal year 2024, representing an 8% year-on-year decrease [1] - Gross profit was 1.705 billion RMB, down 17.3% compared to the previous year [1] - Net profit fell to 1.071 billion RMB, a staggering 55% decline year-on-year, with earnings per share at 0.23 RMB [1] - The final dividend was set at 0.1208 RMB, down from 0.207 RMB in the previous year [1] Market Dynamics - The decline in revenue was primarily attributed to fluctuations in the urea market, with urea sales revenue dropping to 3.71 billion RMB, a decrease of 20.7% year-on-year due to lower sales prices and reduced sales volume [1] - Conversely, revenue from acrylonitrile products saw a significant increase, reaching 2.011 billion RMB, up 54.3% year-on-year, driven by both higher sales prices and increased sales volume [1]
港股异动 | 中海石油化学(03983)早盘跌超5% 尿素销价大幅降低 公司全年纯利同比腰斩