Jianfeng Group: Expected First Half Net Profit of 38 Million to 56 Million

2024-07-09 16:50:41

During the reporting period, the demand for cement was weak, the market competition was fierce, the sales volume and price of the company's cement products decreased year-on-year, and the revenue and gross profit margin decreased year-on-year.

On the evening of July

9, Jianfeng Group issued a semi-annual performance forecast. The company expects a sharp decline in performance from January to June 2024. The net profit attributable to shareholders of listed companies is 38 million to 56 million, and the net profit is 65.96% to 49.83% lower than the same period last year.

The Company made the above forecast based on the following reasons: The main reasons for the changes in the results for the first half of 2024 are:

1. During the reporting period, the demand for cement was weak, the market competition was fierce, the sales volume and price of the Company's cement products decreased year-on-year, and the revenue and gross profit margin decreased year-on-year.

2、 that during the reporting period, the company's sales of pharmaceutical products declined, the market competition of intermediates and pesticides further intensified, the sales price continued to decline, and the gross profit margin declined.

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Correlation

According to the forecast of the meteorological and hydrological department, the natural inflow of Xijiang and Beijiang rivers in the Pearl River Basin this winter and next spring is 10 to 30% less than that in normal years. Xijiang River is the core route for the export of gravel, cement, machine-made sand, stone powder and other materials from Guangxi to Guangdong. Taking the core Changzhou Lock on the Xijiang River as an example, in 2023, there were 61889 ships passing through the lock, and the cargo volume passing through the lock was 6800 tons 14203, with a year-on-year increase of 2.05% and 13.71% respectively. The main types of cargo were gravel, cement and stone powder, accounting for 40%, 15% and 12% of the cargo volume passing through the lock.