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

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.