Recently, the phosphorus chemical industry leader Hubei Xingfa Chemical Group Co., Ltd. (Xingfa Group, 600141) announced that in 2023, the company achieved revenue of 28.105 billion yuan, a year-on-year decrease of 7.28%; a net profit of 1.379 billion yuan, a year-on-year decrease of 76.44%; and a basic earnings per share of 1.25 yuan. The company plans to distribute a cash dividend of 6 yuan (tax included) for every 10 shares.
According to the announcement, at the end of 2023, Xingfa Group's total assets were 44.561 billion yuan, an increase of 7.04% year-on-year; the equity attributable to the owners of the parent company was 20.705 billion yuan, an increase of 1.95% year-on-year; the weighted average return on net assets was 6.73%, a decrease of 28.03 percentage points year-on-year; the net assets per share were 19.76 yuan, an increase of 2.98% year-on-year; and the asset-liability ratio was 50.7%, an increase of 1.97 percentage points year-on-year.
Xingfa Group stated that during the reporting period, affected by changes in the macroeconomic situation and market supply and demand, the agricultural chemicals sector and the organosilicon sector experienced a downturn in market prosperity. Sales prices and production and sales volumes of products such as glyphosate technical and organosilicon DMC also experienced varying degrees of decline year-on-year, leading to a significant decrease in profitability in these sectors. The mining and special chemicals sectors of the company were relatively less affected by the macroeconomic situation and maintained a steady development trend overall, which were the main sources of the company's performance during the reporting period.
