Ningxia Baofeng Energy's H1 Profit Surges 70%, Revenue Up 32%
MT Newswires Live
Aug 13
Ningxia Baofeng Energy (SHA:600989) reported a 70% jump in attributable net profit in the first half to 9.83 billion yuan from 5.72 billion yuan a year earlier.
Earnings per share edged up to 1.33 yuan from 0.78 yuan, the Chinese coal-chemical products manufacturer said in a Shanghai bourse filing late Wednesday.
Revenue was up 32% to 30.2 billion yuan from 22.8 billion yuan a year earlier.
The performance was in line with the company's first-half guidance issued last month. At the time, it attributed the anticipated growth to increased production and sales of olefin after its Inner Mongolia olefin project reached full production capacity in April 2025.
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