The Zhitong Finance App learned that Sinochem Fertilizer (00297) rose by more than 4%. As of press release, it had risen 4.55% to HK$0.92, with a turnover of HK$4.922 million.

According to the news, Sinochem Fertilizer announced the main operating data for the first quarter of 2024, with a turnover of about RMB 6.639 billion and net profit of about RMB 499 million, an increase of about 1.63% over the previous year, mainly due to the Group's unswerving promotion of “Bio+” strategic transformation, focusing on core biological products, and continuing to develop biotechnology products to drive steady growth in sales and gross profit levels to withstand the impact of market fluctuations on performance.

Anxin International previously stated that looking ahead to the second quarter, with the arrival of the peak season for fertilizer preparation in summer and fertilizer for spring farming, the release of agricultural demand will boost the phased increase in sales of fertilizers such as high-nitrogen fertilizers. Furthermore, from April 12 to August 31, customs relaxed urea inspections. This will ease domestic supply pressure, boost market sentiment, and facilitate the steady, moderate and positive development of fertilizer prices.