On September 18, Yunnan Construction and Investment Concrete released its performance report for the first half of 2023. It is shown in the
Report that for the six months ended 30 June 2023, the Group achieved a revenue of approximately RMB734.5 million, representing a decrease of 8.9% as compared to the same period of 2022; a gross profit of approximately RMB67.1 million, representing a decrease of 25.9% as compared to the same period of 2022; Profit before income tax was approximately RMB-15.1 million, representing a decrease of 155.5% as compared to the same period of 2022; and earnings per share was approximately RMB-0.03, representing a decrease of 175.0% as compared to the same period of 2022. Production and sales of ready-mixed concrete amounted to 2.33 million cubic meters, representing a year-on-year increase of 6.9%; profit before income tax amounted to RMB-15.1 million, representing a year-on-year decrease of 155.5%; net profit amounted to RMB-11.5 million, representing a year-on-year decrease of 155.6%; Net profit attributable to owners of the Company amounted to RMB-13.8 million, representing a year-on-year decrease of 173.4%.
For the six months ended 30 June 2023, the majority of the Group's revenue was derived from the business of production and sales of ready-mixed concrete. In particular, the Group's revenue from the production and sales of ready-mixed concrete amounted to RMB703.5 million, accounting for 95.8% of the total revenue.
As at 30 June 2023, the Group had 45 concrete batching 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. However, under the new development pattern, challenges and opportunities coexist, only by accurately recognizing changes, scientifically responding to changes, and actively seeking changes, can we seize opportunities. China Concrete and Cement Products Association published the "Guidelines for the Development of Concrete and Cement Products Industry in the 14th Five-Year Plan", which clearly stated that the Company shall accelerate the development and application of green, low-carbon and high-performance new materials, technologies, equipment and products, promote the development of green, low-carbon and high-end intelligent manufacturing, and accelerate the pace of high-quality development of "the Belt and Road". To provide solid support for the implementation of the strategy of building a powerful country in China.
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