Recently, a number of listed companies in the cement sector have disclosed the forecast of the interim report. Overall, the situation in the first half of the year was not objective. The net profit of cement enterprises generally fell year-on-year, and many of them suffered losses. Performance forecast of
certain cement enterprises for the first half of the year:
The net profit attributable to the shareholders of the listed company of Tianshan Cement for the first half of 2023 is expected to be RMB100 million to RMB150 million, representing a decrease of 97.13% to 95.69% as compared with the same period of last year.
Qilian Mountain expects that the net profit attributable to shareholders of listed companies will be about 222 million yuan to 242 million yuan in the first half of 2023, which is expected to decrease by 260 million yuan to 280 million yuan compared with the same period last year, a decrease of 51.76% to 55.74% compared with the same period last year. The net profit of
Ningxia building materials in the first half of 2023 is expected to be 115 million yuan to 173 million yuan, a decrease of 55% to 70% compared with the same period last year.
Jidong Cement announced a net profit loss of 300 million yuan to 400 million yuan in the first half of the year, compared with a profit of 1.141 billion yuan in the same period last year.
China Resources Cement expects that the profit attributable to owners of the company will decrease by 63% to 68% in the first half of 2023 compared with the same period last year. It is reported that the profit attributable to the owners of China Resources Cement in the first half of 2022 is HK $1.8045 billion.
Shanshui Cement expects that the profit attributable to equity holders of the Company for the first half of the year will decrease by approximately 145% to 150% (loss of RMB215 million to RMB239 million) as compared with approximately RMB477 million for the same period in 2022.
Asia Cement expects the Group's unaudited profit attributable to equity holders for the six months ended 30 June 2023 to decrease by approximately 37% as compared to the same period in 2022. In the first half of 2022, the profit attributable to the owners of the company was 312 million yuan.
Yatai Group expects to increase losses from January to June 2023, with net profit attributable to shareholders of listed companies ranging from-1 billion to 850 million, and net profit falling by 78.22% to 51.49% year on year.
Tapai Group is expected to achieve net profit of 454 million yuan to 507 million yuan in the first half of the year, an increase of 160% to 190% over the same period last year.
Fujian Cement is expected to achieve a net loss of about 133 million yuan attributable to the owner of the parent company in the first half of 2023, with a year-on-year loss expansion. The net profit of shareholders of listed companies in the first half of
Xizang Tianlu 2023 is expected to lose 230 million yuan to 250 million yuan.
As for the reasons for the decline in performance, Tianshan shares said that during the reporting period, the market demand was weak, resulting in the sales and prices of cement clinker and commercial concrete, the company's main products, declined to varying degrees year on year. Affected by the year-on-year decrease in the prices of major raw materials such as coal, the cost of cement clinker and commercial concrete decreased year-on-year.
Shanshui Cement said in the announcement that the main reason was the sharp decline in cement sales prices compared with the same period last year.
Fujian Cement also said that due to the continued weak market demand, cement prices continued to decline. During the reporting period, the average price of cement decreased by 7.86% year-on-year, and the sales volume decreased by 7.4% year-on-year, resulting in a loss in the current operating performance.
According to the performance forecast of various enterprises, insufficient demand release and downward cement price are the main reasons for the decline of cement industry performance in the first half of the year. According to the analysis
of Tianfeng Securities, there may still be downward pressure on cement demand throughout the year, but it is expected that cement demand will gradually stabilize as new construction gradually approaches the bottom of the cycle. Benefiting from the decline in coal prices, the profits of cement enterprises in the second quarter may remain relatively stable. In the second half of the year, with the reduction of the profit base, the profits of cement enterprises are expected to turn positive year-on-year.
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