HK Stock Market Move | CHINA BLUECHEM (03983) fell over 9% after earnings report, with net profit in the first half down more than 20% year-on-year. The pressure on profits is unlikely to ease in the short term.

CHINA BLUECHEM (03983) fell over 9% after announcing its results, and as of the time of this report, it has decreased by 8.56%, trading at HKD 1.975, with a transaction volume of HKD 22.7736 million. In terms of news, CHINA BLUECHEM released its interim results, reporting a revenue of 5.619 billion yuan for the first half of the year, a year-on-year decrease of 3.95%. The main reasons cited were fluctuations in the market for phosphate fertilizers and acrylonitrile, which impacted sales volumes year-on-year, although methanol revenue increased by 10.4% against the trend. The profit attributable to the companys owners was 507 million yuan, a year-on-year decrease of 20.78%. Currently, fertilizer exports are restricted, coupled with the off-season for agricultural fertilizers domestically, making it difficult to ease the profit pressure in the short term.