Shanshui Cement: It is expected that the net profit in 2022 will decrease by no less than 70% year-on-year.

Shanshui Cement announced on January 16 that it expected that the profit attributable to equity holders of the Company for the year ending December 31, 2022 would decrease by no less than 70% as compared with the year ending December 31, 2021 of approximately RMB2.777 billion. In 2022, affected by factors such as epidemic, climate and declining market demand, the sales volume of cement decreased compared with 2021, and the operating income decreased compared with 2021. In terms of cost, due to the increase in the price of raw materials and coal and electricity, the operating cost increased compared with 2021, which reduced the profit margin.