KMCJNC(SZ:300505)2025-08-18 09:08Financial Performance - In the first half of 2025, the company achieved a revenue of 1.744 billion CNY, representing a year-on-year growth of 27.91% [3] - The net profit attributable to shareholders reached 177 million CNY, a significant increase of 166.51% compared to the previous year [3] - Operating cash flow improved significantly, with a net amount of 170 million CNY, up 423.23% year-on-year [3] - Total assets stood at 3.669 billion CNY, with total liabilities of 1.029 billion CNY, resulting in a net asset value of 2.640 billion CNY [3] Business Structure - The phosphate business contributed 51.36% of total revenue, making it the primary income source [3] - Revenue from feed-grade phosphates and phosphate fertilizers accounted for 23.92% and 22.87%, respectively [3] - The gross profit margin for the phosphate fertilizer segment was 29.52%, serving as a key driver for profit growth [4] - The gross profit margins for feed-grade phosphates and phosphoric acid products were 17.60% and 9.86%, respectively [4] Investment and Strategic Development - The company is progressing with the Suez Phosphate Chemical Project in Egypt, which is expected to generate over 2 billion CNY in annual revenue and a net profit exceeding 300 million CNY upon full production [4] - The internal rate of return for the project is projected at 22.30%, indicating strong economic benefits [4] - The project aims to establish an overseas processing center, optimizing cost structure and enhancing market competitiveness [4] Future Outlook - The company anticipates a gradual stabilization of phosphate prices due to increased mining capacity and supply in northern regions [4] - The company plans to adjust its dividend payout ratio in line with actual performance and future capital expenditure needs [5] - Although the company is pausing its development in the renewable energy sector, it maintains a long-term positive outlook on the industry [5]