Sifang New Material: Revenue in the first quarter was 420 million, an increase of 36.43% over the same period!

On April 27, Sifang New Material released its performance report for the first quarter of 2023. The

report shows that during the reporting period, the operating income of Sifang New Material was 420 million yuan, an increase of 36.43% over the previous year; the net profit attributable to shareholders of listed companies was 13.045 million yuan, a decrease of 57.99% over the previous year. As at the end of the reporting period, total assets amounted to RMB4.347 billion, representing a year-on-year decrease of 0.14%. From January to March

2023 (hereinafter referred to as the "Reporting Period"), the Company produced 1,156,600 cubic meters of commercial concrete, with a year-on-year increase of 55.58%; produced 20,800 cubic meters of mortar, with a year-on-year increase of 65.08%; The operating income was RMB420 million, representing a year-on-year increase of 36.43%, which was mainly due to the addition of new holding subsidiaries within the scope of consolidated statements of the Company; the net profit attributable to the parent company was RMB13 million, representing a year-on-year decrease of 57.99%, which was mainly due to the continuous decline in the price of commercial concrete, fierce market competition and other comprehensive factors.