Sifang New Material: Net profit was -7.54 million, down 114.66% year on year!

On August 31, Chongqing Sifang New Material Co., Ltd. The

report shows that the operating income of Sifang New Material in the first half of the year was 957 million yuan, up 30.03% year-on-year; the net profit attributable to shareholders of listed companies was -7.54 million yuan, down 114.66% year-on-year; by the end of the reporting period, the total assets of Sifang New Material were 4.482 billion yuan, up 2.98% year-on-year.

The main reasons include: firstly, due to the continuous downturn of the real estate industry and the sharp decline in the new construction area of real estate in Chongqing, the competition in the commercial concrete market is fierce, and the price continues to be at a low level, resulting in a year-on-year decline in the gross profit margin of the company's commercial concrete; Secondly, due to the lack of liquidity of some enterprises downstream of the industrial chain and other factors, the corresponding risk of accounts receivable recovery has increased, and credit impairment losses are expected to increase year-on-year.

Sifang New Material is a building material manufacturer mainly engaged in research and development, production and sales of commercial concrete, and also produces sand and gravel aggregates for construction. At present, it mainly produces and sells ordinary commercial concrete, high-strength commercial concrete and special commercial concrete of various strength grades. The products are widely used in real estate development and infrastructure construction such as roads, bridges, tunnels and water conservancy. As of the end of the reporting period, the Company has 4 commercial concrete production bases with a designed production capacity of about 15.5 million cubic meters per year; 2 mortar production lines with an annual design capacity of 1.2 million cubic meters per year; in addition, the Company also has the supply capacity of asphalt concrete, cement stabilized layer and other products. The company and its holding subsidiaries have obtained the "Green Building Material Rating Certificate for Ready-mixed Concrete".