Xingfa Group's net profit in the first three quarters is expected to nearly double

On October 12, Hubei Xingfa Chemical Group Co.
, Ltd.
(hereinafter referred to as Xingfa Group) released an announcement on the pre-increase in the first three quarters, and is expected to achieve a net profit of 4.
9 billion ~ 4.
95 billion yuan, a year-on-year increase of 96.
98% ~ 98.
98%; The net profit attributable to the parent was 4.
98 billion ~ 5.
03 billion yuan, a year-on-year increase of 91.
1% ~ 93.
02%.

Xingfa Group said that the company's net profit attributable to the parent during the reporting period increased significantly compared with the same period of the previous year, mainly due to the comprehensive impact
of the following factors.
First, affected by the cyclical fluctuations of the traditional chemical and agrochemical industries, the sales prices of glyphosate, phosphate ore, yellow phosphorus and other products have increased significantly compared with the same period last year, and the profitability has been significantly enhanced
.
The company actively grasps market opportunities, scientifically organizes production and operation, and gives full play to
the advantages of the upstream and downstream integrated industrial chain of phosphorus chemical industry.

Second, benefiting from the rapid development of emerging industries such as food processing, carbon fiber, and integrated circuits, the company's food additives, special chemicals, wet electronic chemicals and other products have good market demand, the profit level has steadily improved, the operating efficiency has increased significantly, and the proportion of performance contribution has risen to nearly 30%.