The net profit of Shangfeng Cement in 2022 is expected to be 920 million to 1.03 billion, down 57.72% to 52.67%.

On January 19, Shangfeng Cement recently issued an annual performance forecast for 2022. During the reporting period, the net profit attributable to shareholders of listed companies was 920 million yuan to 103 million yuan, down 57.72% to 52.67% from the same period last year; Basic earnings per share is 0.94 yuan per share-1.06 yuan per share.

Shangfeng Cement said that the main reason for the decline in the company's performance during the reporting period compared with the same period last year was that during the reporting period, the sales volume and price of the company's cement products declined due to factors such as the multi-point spread of the domestic epidemic, the weak macroeconomic environment, insufficient funds for infrastructure projects, and the expansion of the decline in investment in real estate development nationwide. At the same time, the increase of coal price compared with the same period last year pushed up the manufacturing cost of cement products, and the profit margin of products decreased significantly. During the

reporting period, the net profit attributable to shareholders of the listed company is expected to decrease by approximately RMB120 million due to the impact of non-recurring gains and losses, which is mainly due to the floating losses caused by the changes in the fair value of the Company's securities investment during the reporting period.

Shangfeng Cement mainly focuses on the production, manufacture and sale of cement clinker , cement, special cement, concrete, aggregate and other building materials.