CHINA XLX FERT (01866) has announced its results for the first three quarters of 2026, reporting operating revenue of RMB 23.047 billion, representing a year-on-year increase of 28%.
Net profit came in at RMB 1.522 billion, up 51% year-on-year, while net profit attributable to shareholders reached RMB 1.138 billion, up 42% year-on-year. Basic earnings per share stood at 90.7 cents.
The group has adhered to its development strategy of integrating fertiliser and chemical operations. During the reporting period, it continued to optimise its product mix, seize market windows, and advance marketing transformation, achieving simultaneous increases in both output and prices. This drove overall gross profit up 43% year-on-year and supported high-quality growth in operating performance.
With the Jiangxi Phase II project and the chemical new materials project coming into production on schedule, urea output increased by 780,000 tonnes year-on-year. On the basis of cost reduction and volume growth, the group continued to optimise its product structure. Sales of high-efficiency urea rose 17% year-on-year, and with a per-tonne gross profit RMB 34 higher than that of ordinary urea, this boosted overall urea gross profit by RMB 450 million.
At the same time, the group continued to advance its overseas market layout, seizing export quotas and window periods in advance. Urea export volume increased by nearly 100,000 tonnes year-on-year, further driving overall performance growth.
In addition, the group seized opportunities arising from rising chemical product prices, leveraging flexible production to convert some surplus liquid ammonia into methanol. Through the cost advantages of integrated coal-to-methanol production, the group promoted the upgrading of various chemical products toward higher value-added segments, increasing the proportion of differentiated products such as pharmaceutical-grade DMF and modified polyoxymethylene. This achieved simultaneous increases in both output and prices of chemical products, driving gross profit from chemical products up RMB 650 million year-on-year in the first three quarters, an increase of 77%, maximising profitability.
Looking at the third quarter alone, the group successfully completed maintenance work across its production bases. Although the concentrated maintenance exerted some pressure on quarterly performance, through process optimisation and upgrades to its automation systems, the plant automation rate was raised to 90%, meeting the reference standard for smart factories and laying the foundation for stable full-capacity production.
In the third quarter, the group recorded revenue of approximately RMB 7.307 billion, up 38% year-on-year, and net profit attributable to shareholders of approximately RMB 217 million, up 8% year-on-year.
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