Shares of CHINA BLUECHEM (03983) fell more than 9% following the release of its interim results, trading down 8.56% at HK$1.975 as of the time of writing, with turnover reaching HK$22.7736 million.

According to the company's interim report, revenue for the first half of the year stood at RMB 5.619 billion, a year-on-year decrease of 3.95%. This decline was primarily attributed to market fluctuations in phosphate compound fertilizers and acrylonitrile, which led to lower sales volumes, although methanol revenue bucked the trend with a 10.4% increase.

Profit attributable to owners of the company amounted to RMB 507 million, down 20.78% year-on-year. With fertilizer export restrictions still in place and the domestic agricultural sector currently in its off-season for fertilizer application, the company's earnings pressure is unlikely to ease in the near term.