Huaxin Cement: 2022 net profit of 2.699 billion yuan, down 49.68% year-on-year!

Huaxin Cement released its annual results for the year ended December 31, 2022. According to the Chinese Accounting Standards, the Group achieved operating income of RMB30.47 billion (the same below), representing a year-on-year decrease of 6.14%; Net profit attributable to shareholders of the listed company was RMB2.699 billion, representing a year-on-year decrease of 49.68%; net profit attributable to shareholders of the listed company after deduction of non-recurring profit and loss was RMB2.579 billion, representing a year-on-year decrease of 51.39%; basic earnings per share was RMB1.3, and a cash dividend of RMB0.51 per share was proposed to be distributed. During the

reporting period, the operating revenue decreased by 1.994 billion yuan compared with the same period last year, of which the sales volume of cement and clinker decreased by 14.8739 million tons (-19.76%), the average price was basically the same as last year, and the revenue decreased by 5.086 billion yuan. Concrete sales increased by 7.3352 million cubic meters (81.02%), sales growth offset the impact of price decline of 37.54 yuan/cubic meter (-10.70%), and revenue increased by 1.957 billion yuan. Aggregate sales volume increased by 30.8176 million tons (88.13%), which offset the impact of price decrease of 12.14 yuan/ton (-20.67%), and revenue increased by 1.011 billion yuan. During the

reporting period, the comprehensive sales price of cement and clinker was basically the same as that of the same period last year, but due to the impact of the increase in energy costs, the unit cost of sales increased by 27.97 yuan/ton (12.21%), and the gross profit per ton decreased by 28.18 yuan/ton, resulting in a decrease of 7.88 percentage points in the gross profit margin of the company in 2022 compared with the same period last year. From the perspective of

regions, due to the decline in cement sales, the Company's operating income in some regions decreased by more than 10% compared with the same period last year; with the completion of overseas mergers and acquisitions and equipment transformation, the overseas income increased by 63.50%.