On August 28, Yunnan Jiantou Green High Performance Concrete Co., Ltd. released its performance report for the first half of 2023.
In the first half of the year, the Company produced and sold 2.33 million cubic meters of ready-mixed concrete, representing a year-on-year increase of 6.9%; its revenue was RMB735 million, representing a year-on-year decrease of 8.9%; its gross profit was RMB64.1 million, representing a year-on-year decrease of 25.9%; and its net profit attributable to the owners of the Company was RMB-13.8 million, representing a year-on-year decrease of 173.4%.
The Group has 45 concrete mixing plants and 85 production lines, with an annual production capacity of 19.74 million cubic meters; The Group also owns 164 concrete mixers (including 13 electric mixers and 151 fuel mixers), 19 electric loaders, 10 electric aggregate dump trucks, 10 electric heavy truck tractors, 10 semi-trailers for powder transportation, as well as 1 power exchange station, 1 photovoltaic power station and 2 pump trucks. Since
2023, despite the smooth transition of COVID-19 epidemic prevention and control, the overall situation of the national concrete industry is not optimistic due to the impact of the real estate market and macroeconomic fluctuations, and the growth rate of investment and construction in Yunnan Province has also slowed down. According to the statistics of China Concrete and Cement Products Association, from January to May 2023, the cumulative output of ready-mixed concrete of large enterprises decreased by 1.3% compared with the same period last year; according to the statistics of Yunnan Provincial Bureau of Statistics, in the first half of 2023, the investment in fixed assets of the whole province (excluding farmers) decreased by 5% compared with the same period last year. Investment in real estate development dropped by 33%, and investment in transportation dropped by 16%. All these factors have had a certain impact on the business development of the Group, and posed severe challenges to the development of new markets, transformation and upgrading.
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