Baofeng Energy forecasts significant profit surge in Q1 2025

Ningxia Baofeng Energy Group (SSE:600989) has announced a preliminary forecast indicating a significant surge in its financial performance for the first quarter of 2025. The company projects net profit attributable to shareholders to reach between CNY 2.35 billion and CNY 2.50 billion, a substantial increase of 65.38% to 75.93% compared to the same period last year (CNY 1.421 billion). This translates to an increase of between CNY 929 million and CNY 1.079 billion. The unaudited forecast reflects the successful commencement of trial production at the Inner Mongolia 3 million tons/year Olefin project. This has led to a significant increase in the production and sales volume of olefin products. Simultaneously, the prices of coal, a key raw material and fuel source, have declined year-over-year, further boosting the company's profit margins on olefin products. While these figures are preliminary and subject to final audit, Baofeng Energy advises investors to exercise caution and be aware of investment risks. The final, accurate financial data will be disclosed in the company's official first-quarter report.