At one point in the afternoon, China Xinlianxin Chemical Fertilizer (1866.HK) rose more than 14%. It is now at a monthly high of HK $6.26, with a total market capitalization of HK $7.688 billion.
The company announced on Friday night that unaudited comprehensive net profit in the first quarter of 2022 was about 520 million yuan, up 88 per cent from a year earlier. During the period, the epidemic, supply chain tensions and the war between Russia and Ukraine caused food and energy prices to soar in the first quarter. The prices of chemical fertilizers and petrochemical-related products have also risen.
In addition, the group's production capacity has reached a new milestone. Anxin International has said that thanks to the rise in urea prices, the high prosperity of the industry continues, and the heart-to-heart performance of 22 years will maintain rapid growth.