Huaxin Cement announced on January 30 that it expected a net profit of 2.521 billion yuan to 2.843 billion yuan in 2022, a decrease of 47% to 53% compared with the same period last year.
The above expected decrease was mainly due to the year-on-year decrease in the sales volume of cement and clinker , the leading products of the Company, as a result of the repeated COVID-19 epidemics, the downturn of the real estate industry and other factors. Meanwhile, the year-on-year increase in the cost of cement and clinker was due to the increase in energy prices.
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