Conch Cement: The net profit in 2022 is expected to drop by 50% -58% year-on-year

On January 30, Conch Cement issued a performance forecast for 2022, predicting that the net profit attributable to the owner of the parent company in 2022 will be 13.973 billion yuan to 16.633 billion yuan, compared with the same period last year (statutory disclosure data). It will be reduced by 16.634 billion yuan to 19.294 billion yuan, a decrease of 50% to 58% over the same period last year.

The announcement said that the main reasons for the performance reduction were: in 2022, due to the downturn of the real estate market, repeated epidemics and other factors, the demand for cement market declined, and the sales price and sales volume of the company's cement products declined year-on-year; at the same time, due to the impact of rising coal prices and electricity prices, the company's product costs increased year-on-year.