China BlueChemical Ltd. reported unaudited consolidated earnings results for the six months ended June 30, 2009. The Group recorded revenue of RMB 2,828.1 million for the reporting period, a decrease of RMB 4.6 million or 0.2% from RMB 2,832.7 million for the corresponding period of 2008. Profit before tax was RMB 686.5 million against RMB 1,210.3 million for the same period a year ago. For the reporting period, the group's net profit was RMB 583.1 million, a decrease of RMB 511.7 million or 46.7% from RMB 1,094.8 million for the corresponding period of 2008. The decrease in the Group's net profit for the reporting period was primarily attributable to the decrease in selling prices of fertilisers and methanol during the reporting period, which was partially offset by a net profit of RMB 56.2 million generated by the new phosphate fertiliser business. The Group's capital expenditure in respect of acquisitions, property, plant and equipment and prepaid land lease payments for the reporting period amounted to RMB 1,598.8 million, which comprised mainly RMB 1,161.0 million for the acquisition of 83.17% equity interests in DYK Chemical and 100% equity interests in ZHJ Mining; RMB 260.5 million for the polyoxymethylene project in Inner Mongolia; RMB 93.0 million for the methanol project in Hainan; and RMB 84.3 million for plant upgrades and equipment purchases. The net cash inflow from operating activities for the period was RMB 1,155.9 million, net cash outflow from investing activities was RMB 2,310.1 million, and net cash outflow from financing activities was RMB 814.9 million.

It was reported that China BlueChemical, Ltd is seeking opportunities to build nitrogenous fertilizer plants and acquire potassium fertilizer resources overseas. Yang Yexin, CEO of the firm said that China BlueChemical wants to invest in urea plants abroad because the domestic market for the nitrogenous fertilizer is oversupplied and the price of its main raw material, natural gas, is getting more expensive. He added, “The Middle East has a lot of cheap gas. We also need to grow our operation's scale and globalize it. If you look at renowned fertilizer firms like [Norway's] Yara, they all have operations worldwide.” China BlueChemical posted a 50.2% year-on-year drop in net profit to CNY 527.02 million for the first half. Sales fell 22.2% to CNY 2.83 billion on a 51.6% plunge in the price of methanol.

China BlueChemical Ltd. reported unaudited earnings results for the six months ended June 30, 2009. For the period, net profit attributable to equity holders of the parent was CNY 527.0 million. Basic earnings per share were 11.43 fen.