DJ Sinofert Announces 2023 Interim Results EQS Newswire / 28/08/2023 / 19:32 UTC+8 Press Release (For immediate release) Sinofert Announces 2023 Interim Results 2023 Interim Results Highlights:
EQS Newswire / 28/08/2023 / 19:32 UTC+8 Press Release 2023 Interim Results Highlights: -- The Group realized net profit of RMB 1,071 million, up 6.14% YoY. -- Profit attributable to the Company's owners grew by 0.6% YoY to RMB 1,004 million. -- Segment profit of the Growth Business increased by 38.63% YoY to approximately RMB 31476 million.
In the face of intensified market competition, the Group proceeded with the policy of increasing crop yield with fewer fertilizer applications. While significantly scaling down the low-margin nitrogen fertilizer and sulphur businesses, it vigorously promoted"bio-fertilizer+" and"Houpu" soil health strategy.
The Group persistently enhanced the operational management standards and the risk control capability, while retaining a sound financial position. As at 30 June 2023, the Group's current ratio was 1.5 and its debt-to-equity ratio was 17.99%. The relatively high amount of available bank credit, an easy access to financing channels and diversified funding methods lay a solid foundation for its sustainable growth.
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