DJ China XLX Announces 2023 3Q Results EQS Newswire / 06/11/2023 / 00:36 UTC+8 Press Release (For immediate release) China XLX Announces 2023 3Q Results Comprehensive income attributable to owners
EQS Newswire / 06/11/2023 / 00:36 UTC+8 Press Release Comprehensive income attributable to owners of the parent surged 55% YoY 2023 3Q Results Highlights: -- The consolidated revenue increased by 3% YoY to approximately RMB 5,461 million; -- Net profit grew 35% YoY to approximately RMB 378 million; -- Comprehensive income attributable to owners of the parent surged 55% YoY to approximately RMB 283 million. China XLX Fertiliser Ltd.
During the Period, the urea revenue declined by 4% YoY to approximately RMB 4,893 million, mainly due to lower urea prices caused by a supply glut and coal price slip. However, as the market supply and demand conditions improved and the feed costs gradually rebounded, urea prices for the third quarter edged up 5% from the previous quarter. The revenue from the sale of urea solution for vehicles in the Period dropped 21% YoY to approximately RMB 330 million.
Revenue from melamine for the first nine months of this year dropped 29% YoY to approximately RMB 571 million, mainly due to oversupply and soft demand in domestic market and lackluster demand in overseas markets. However, melamine price in the third quarter grew 9% from the previous quarter while the price of urea, the feedstock for melamine production, steadily picked up.
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