Sinochem Fertilizer (00297) was nearly 6% lower. At the end of press release, it fell 5.81% to HK$0.81, with a turnover of HK$1.06 million.
The Zhitong Finance App learned that Sinochem Fertilizer (00297) was nearly 6% lower. At the end of press release, it fell 5.81% to HK$0.81, with a turnover of HK$1.06 million.
According to the news, the company announced that it is expected that the group will obtain profit attributable to the company's shareholders of about RMB 550 million to RMB 650 million in 2023, a decrease from the profit attributable to the company's shareholders of RMB 1,117 billion in 2022. According to the announcement, the main reason for the expected reduction in profit is that due to the complete cessation of production in Yangmei Plain, the company will fully accrue asset impairment losses of about RMB 200 million in the face value of Yangmei Plain's equity in the upcoming 2023 comprehensive results; after evaluating the guarantee liabilities performed by Sinochem Fertilizer and the solvency of Yangmei Plain, the company will calculate expected credit impairment losses related to these guarantees in the upcoming 2023 Group Comprehensive Results.
If such assets and anticipated credit impairment losses are not taken into account, the profit attributable to the company's shareholders in 2023 will be basically the same as the same period last year. In 2023, the Group's core crop nutrition business continued to develop steadily, and all production and operations were running smoothly. The group has a healthy balance sheet and good capital liquidity. The current fulfillment of guarantee obligations has no significant impact on its capital liquidity. At present, the Group's fundamentals remain stable. On this basis, we will continue to do our best to maximize profits for the company's shareholders and create value for their shareholders in a long-term and sustainable manner.