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Reporter of China Business Network: Wang Lin Editor of China Business Network: Zhang Haini

On the evening of August 19, Xingfa Group (600141.SH, stock price 18.07 yuan, market value 19.936 billion yuan), a leader in the domestic phosphorus chemical industry, released its 2024 semi-annual report. In the first half of the year, it achieved operating income of 13.404 billion yuan, a year-on-year decrease of 2.09%; with an increase in gross profit margin, it achieved a net profit attributable to shareholders of 805 million yuan, a year-on-year increase of 29.85%.

In addition, Xingfa Group disclosed in its semi-annual report that it is still making every effort to promote the spin-off and listing of its subsidiary Hubei Xingfu Electronic Materials Co., Ltd. (hereinafter referred to as Xingfu Electronics).

The profitability of iron phosphate, silicone and other products is lower than expected. The company's fundraising and investment projects are expected to be postponed.

Xingfa Group's main products include phosphate rock, specialty chemicals, glyphosate products, silicone products, fertilizers, etc. Its products are used in food, agriculture, integrated circuits, automobiles, construction, chemicals and other fields.

In the first quarter of this year, Xingfa Group achieved operating income of 6.888 billion yuan, a year-on-year increase of 4.82%, and net profit attributable to the parent company was 382 million yuan, a year-on-year decrease of 15.07%. The semi-annual report shows that in the first half of this year, Xingfa Group achieved operating income of 13.404 billion yuan, a year-on-year decrease of 2.09%, and net profit attributable to the parent company was 805 million yuan, a year-on-year increase of 29.85%. It can be seen that in the second quarter, Xingfa Group achieved a significant increase in net profit attributable to the parent company despite a month-on-month decline in revenue.