Xinyangfeng Agricultural(SZ:000902)2025-04-18 07:12Financial Performance - In 2024, the company achieved a revenue of CNY 15.563 billion, a year-on-year increase of 3.07% [2] - The net profit attributable to shareholders was CNY 1.315 billion, reflecting a growth of 8.99% [2] - Total sales volume of compound fertilizers reached 4.3571 million tons, a significant increase from 4.0083 million tons in 2023, marking the fastest growth in four years [2] Product Sales - Sales of new compound fertilizers reached 1.38 million tons, with a year-on-year growth of 22.93% [2] - Conventional compound fertilizers sold 2.9771 million tons, showing a growth of 3.17% [2] - The gross margin for conventional and new compound fertilizers increased by 1.31 and 1.74 percentage points, respectively [2] Market Dynamics - The company has established three production bases in the Northwest region, enhancing local supply capabilities and brand recognition [3] - The Northwest market is expected to become a significant growth source due to the concentration of economic crop planting [3] - The market has seen the exit of smaller compound fertilizer companies due to raw material volatility and increasing environmental regulations, benefiting larger firms [3] Cash Flow and Capital Expenditure - The operating cash flow decreased, primarily due to differences in sales rhythm rather than collection difficulties [3] - The company plans future capital expenditures on the Yiling project and the Lianhua Mountain mine, with no additional projects currently planned [3]