Jidong Cement: estimated net loss of 740 million yuan to 870 million yuan in the first half

2024-07-08 10:08:40

During the reporting period, the effective market demand was weak as a whole, the price of cement and clinker decreased significantly year-on-year, and the sales volume decreased year-on-year.

On July 6, Jidong Cement issued a semi-annual performance forecast, the company expects to increase losses in January-June 2024, the net profit attributable to shareholders of listed companies is-870 million to-740 million, net profit fell 137.61% to 102.11% year-on-year. The basic earnings per share is estimated to be -0.3273 to -0.2784 yuan.

The Company made the above forecast based on the following reasons: during the reporting period, the effective market demand was weak as a whole, the price of cement and clinker decreased significantly year-on-year, and the sales volume decreased year-on-year; At the same time, the company took measures to reduce costs and increase efficiency, resulting in a significant year-on-year decrease in costs, but failed to cover the impact of changes in sales volume and price, resulting in a year-on-year increase in losses during the reporting period.

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Correlation

Recently, due to the persistent cost pressure in the south, the price of concrete has risen slightly with the raw materials, but the growth of market demand is limited, and the overall quotation is still stable. From October 31 to November 6, the national concrete price index closed at 112.47 points, up 0.31% annually and down 10.11% year-on-year.