The Conch Cement 2022 Annual Report has come out, and there are several data worthy of our attention! Operating income was 132.022 billion yuan, down 21.4% year on year. Net profit was 15.661 billion yuan, down 52.92% year on year.
It can be seen that the net profit of conch last year dropped by almost 2.5 times the operating income? Why is this happening? Don't worry, let's continue to talk.
First, let's look at the operating income, which is the financial data of Conch Cement from the first quarter to the fourth quarter of 2022. In the first quarter of
2022, the whole cement industry was in the low season, and the revenue of Conch was also in a general state of decline; the second quarter was originally the traditional peak season of the cement industry, but the domestic epidemic was severe, the industry was not prosperous in the peak season, the demand for cement was also shrinking rapidly, and the revenue of Conch dropped by 33% year-on-year; After entering the third quarter, the off-season was weaker, and the already weak market was further weakened; in the fourth quarter, the domestic epidemic again, the demand was weak, but compared with the previous slightly better, Conch benefited from the increase in sales, operating income showed a slight rebound, but still unable to resist the overall downward trend of the industry, Conch's fourth quarter profit fell by 70% year-on-year. Demand has improved slightly, revenue has rebounded slightly, but the market has declined across the board, and the decline in earnings has expanded. It can be said that Conch's revenue situation has not been very good in four quarters.
Let's talk about the net profit of conch. Last year, the sales volume of conch fell sharply, and the total sales volume of cement clinker was 310 million tons, down 24.2% from the same period last year. Let's look at the selling price. Last year, the average price of conch cement clinker was 321 yuan/ton, down 11% from the same period last year. The decrease in 
sales volume and price, and the increase in coal price led to the increase in cost. The cost per ton of conch cement clinker increased by 27 yuan to 230.4 yuan/ton, and the profit was directly cut in half, even more than in 2015. Even Conch, the leader in operating cost control, is like this, not to mention how difficult it was for other enterprises last year.
This year, as a key year for economic recovery, we understand that Conch Cement is actively expanding and strengthening the main business of the cement industry chain, and at the same time, it is also increasing its efforts to enter the new energy track, creating a new industrial growth level and cultivating a new profit growth point. In
2023, Conch Cement will have a capital expenditure of 19.318 billion yuan, mainly for project construction, energy-saving and environmental protection technology reform, M & a project expenditure, etc. It is expected that Conch's market share will be further enhanced and its leading position will continue to be consolidated.
Are you optimistic about the future development of Conch Cement? Feel free to leave a comment in the comments section.
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