China Resources Cement: Expected loss of HK $35 million to HK $45 million in the first quarter turned from profit to loss on a year-on-year basis

2023-04-11 13:43:34

The Group expects to achieve a loss attributable to owners of the Company of approximately HK $35 million to HK $45 million in the first quarter of 2023, compared with a profit attributable to owners of the Company of HK $729.5 million in the same period last year.

On April 11, China Resources Cement Holdings (01313. HK) announced that the group expects to achieve a loss of about HK $35 million to HK $45 million in the first quarter of 2023, compared with a profit of HK $729.5 million in the same period last year. This was mainly due to: (1) a decrease in the selling price of the Group's products during the period as compared to the same period in 2022; and (2) a one-off gain on disposal of a subsidiary of HK $239.1 million in the first quarter of 2022.

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The Group achieved a turnover of HK $12,173 million, representing a decrease of 24.5% as compared to the same period last year. Profit attributable to owners of the Company was HK $621 million, representing a decrease of 65.6% as compared to the same period last year.

2023-08-19 09:15:24

The Group expects to achieve a loss attributable to owners of the Company of approximately HK $35 million to HK $45 million in the first quarter of 2023, compared with a profit attributable to owners of the Company of HK $729.5 million in the same period last year.

2023-04-11 13:43:34

On January 15, 2021, Fujian Provincial Department of Industry and Information Technology announced the capacity replacement plan of Fujian Cement Co., Ltd. for the construction project of cement clinker production line with a daily output of 4500 tons, which was not organized and implemented for some reasons. Now the enterprise applies for the change of the announcement.